Sec. 1. This chapter applies to the following: (1) A public work project that will cost the political subdivision not more than two million dollars ($2,000,000). (2) An eligible efficiency project that will cost not more than three million dollars ($3,000,000). As added by P.L.81-2004, SEC.47. Amended by P.L.88-2009, SEC.16.
Sec. 1.5. As used in this chapter, “eligible efficiency project” means: (1) a project necessary or useful to carrying out an interlocal cooperation agreement entered into by two (2) or more political subdivisions or governmental entities under IC 36-1-7; or (2) a project necessary or useful to the consolidation of local government services. As added […]
Sec. 2. As used in this chapter, “public work” means a project for the construction of any public building, highway, street, alley, bridge, sewer, drain, or any other public facility that is paid for out of public funds. As added by P.L.81-2004, SEC.47.
Sec. 3. Notwithstanding any other statute, a political subdivision may borrow the money necessary to finance: (1) a public work project; or (2) an eligible efficiency project; from a financial institution in Indiana by executing a negotiable note under section 4 of this chapter. The political subdivision shall provide notice of its determination to issue […]
Sec. 4. A political subdivision borrowing money under section 3 of this chapter shall execute and deliver to the financial institution the negotiable note of the political subdivision for the sum borrowed. The note must bear interest, with both principal and interest payable in equal or approximately equal installments over a period not exceeding ten […]
Sec. 5. (a) The political subdivision shall appropriate an amount for and levy a tax each year sufficient to pay the political subdivision’s obligation under the note according to its terms. (b) An obligation of a political subdivision under a note executed under this chapter is a valid and binding obligation of the political subdivision, […]
Sec. 6. If a political subdivision gives notice under section 3 of this chapter of its determination that money should be borrowed under this chapter, not less than ten (10) taxpayers in the political subdivision who disagree with the determination may file a petition in the office of the county auditor not more than thirty […]
Sec. 7. (a) Upon receiving a petition under section 6 of this chapter, the county auditor shall immediately certify a copy of the petition, together with other data necessary to present the questions involved, to the department of local government finance. Upon receipt of the certified petition and other data, the department of local government […]
Sec. 8. A: (1) taxpayer who signed a petition filed under section 6 of this chapter; or (2) political subdivision against which a petition is filed under section 6 of this chapter; may petition the tax court established by IC 33-3-5-1 for judicial review of the final determination of the department of local government finance […]
