Sec. 12. (a) The district may not issue waste management district bonds under this chapter that are payable by special taxation or fees under IC 13-21-14 in a total amount, including outstanding bonds already issued, exceeding six percent (6%) of the adjusted value of taxable property in the district as determined under IC 36-1-15.

     (b) All waste management district bonds issued in violation of this section or IC 13-9.5-9-3(k) (before its repeal) are void.

[Pre-1996 Recodification Citation: 13-9.5-9-3(k).]

As added by P.L.1-1996, SEC.11. Amended by P.L.6-1997, SEC.157.