§ 6-1.1-20-9 — Public improvement bonds, ordinance, or resolution; construction bidding

Indiana § 6-1.1-20-9

• Jurisdiction: Indiana
• Art. 1.1: PROPERTY TAXES
• Ch. 20: Procedures for Issuance of Bonds and Other Evidences

Text

(a) When the proper officers of a political
subdivision decide to issue bonds payable from property taxes to
finance a public improvement or enter into a lease rental agreement
payable from property taxes to finance a public improvement, they
shall adopt an ordinance or resolution which sets forth their
determination to issue the bonds or enter into the lease rental
agreement. Except as provided in subsection (b), the political
subdivision may not advertise for or receive bids for the construction
of the improvement until the expiration of:
(1) the time period within which taxpayers may file a petition:
(A) for review of or a remonstrance against the proposed issue
or lease, in the case of a proposed issue or lease that is subject
to section 3.1 of this chapter; or
(B) to initiate the local public question process, in the case of
a proposed issue or lease that is subject to section 3.5 of this
chapter; or
(2) the time period during which a petition for review of the
proposed issue or lease is pending before the department of local
government finance (in the case of bonds or a lease for which a
petition for review may be filed with the department of local
government finance).
(b) This subsection does not apply to bonds or lease rental
agreements for which a political subdivision:
(1) after June 30, 2008, makes:
(A) a preliminary determination as described in section 3.1 or
3.5 of this chapter; or
(B) a decision as described in section 5 of this chapter; or
(2) in the case of bonds or lease rental agreements not subject to
section 3.1 or 3.5 of this chapter and not subject to section 5 of
this chapter, adopts a resolution or ordinance authorizing the
bonds or lease rental agreement after June 30, 2008.
When a petition for review of a proposed issue is pending before the
department of local government finance, the department may order the
political subdivision to advertise for and receive bids for the
construction of the public improvement. When the department of local
government finance issues such an order, the political subdivision shall
file a bid report with the department within five (5) days after the bids
are received, and the department shall render a final decision on the
proposed issue within fifteen (15) days after it receives the bid report.
Notwithstanding the provisions of this subsection, a political
subdivision may not enter into a contract for the construction of a
public improvement while a petition for review of the bond issue which
is to finance the improvement is pending before the department of local
government finance.
[Pre-1975 Property Tax Recodification Citations: 6-1-49-1;
6-1-50-1.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by
P.L.90-2002, SEC.196; P.L.224-2007, SEC.35; P.L.146-2008,
SEC.198.