§ 8-16-2-4 — Estimates of construction costs; issuance of bonds

If the department shall, in its discretion,
determine to construct any such bridge as in this chapter provided for,
in accordance with the authority conferred by this chapter, the
department shall ascertain and estimate, as nearly as is practicable, the
probable cost of the location and construction of such bridge, including
the approaches thereto as a part thereof, and including also in said
estimated cost the cost of acquiring all necessary personal and real
property and easements in real property, and shall certify the amount
of such estimated cost, together with a copy of its order expressing its
determination to construct such bridge, to the county auditor of that
county in Indiana in which such bridge, or any part thereof, considering
the approaches thereto as a part thereof, is located; and thereupon such
county, by and through its board of county commissioners, by
appropriate resolution and order, shall forthwith issue and execute the
negotiable bonds of such county, with proper interest coupons attached
thereto, in an amount equal to one-fourth of such estimated cost of the
location and construction of such bridge: Provided, That no county
shall issue its bonds under the provisions of, or for any of the purposes
contemplated in, this chapter in any amount in excess of one percent
(1%) of the adjusted value of the taxable property within such county
as determined under IC 36-1-15.
Formerly: Acts 1927, c.10, s.4. As amended by Acts 1980,
P.L.74, SEC.282; P.L.6-1997, SEC.135.