Sec. 4. This section applies only to the following:
(1) A county that has a population of more than one hundred thousand (100,000).
(2) A municipality that has a population of more than seventy-five thousand (75,000).
Notwithstanding any other law, a county or municipality subject to this section may not issue bonds after June 30, 2020, unless the county or municipality has for its preceding budget year prepared an annual financial report using the modified accrual basis of accounting in accordance with generally accepted accounting principles. However, upon request of a county or municipality to the state examiner, the state examiner may waive the requirement under this section if the state examiner determines that a waiver is in the best interest of the county or municipality.
As added by P.L.244-2017, SEC.2.