Bonds; Issuance When Cost of Maintaining Project Exceeds Amount That Can Be Raised

  1. Law
  2. Indiana Code
  3. Local Government
  4. Transportation and Public Works
  5. Certain Watercourse, Levee, Sewer, and Drain Improvements
  6. Bonds; Issuance When Cost of Maintaining Project Exceeds Amount That Can Be Raised

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Sec. 17. If a board of directors finds that the cost of maintaining a project exceeds the amount that can be raised in any year, the board may issue bonds in the manner in which bonds are issued for construction of levees. However, the bonds and the interest on the bonds shall be paid by assessments made in the manner prescribed by section 16 of this chapter.

[Pre-Local Government Recodification Citation: 19-4-20-21.]

As added by Acts 1981, P.L.309, SEC.104.


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