Sec. 20. To raise the drainage maintenance fund, the drainage commissioners shall meet annually to do the following:
(1) Estimate the amount of money necessary to properly maintain the ditch and drain for the ensuing year.
(2) Determine what percent that amount is of the total of the last assessments made and confirmed by the court in the last proceedings to construct or reconstruct the ditch and drain. The drainage commissioners shall by resolution fix that percent as the assessment rate for the ensuing year, subject to the following:
(A) The assessment rate may not be greater than fifty percent (50%) of the last assessment.
(B) If, in a year there is an unencumbered balance in the drainage maintenance fund equal to or greater than four (4) times the estimated annual cost of the drainage maintenance, the annual assessment shall be omitted for that year.
[Pre-1995 Recodification Citation: 13-2-21-5(b).]
As added by P.L.1-1995, SEC.20.