Indiana Code 36-9-36-11. Levy of special assessments; improvement cost as maximum amount of assessment; improvement cost payable by unit
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Sec. 11. (a) The works board shall levy special assessments for the amount determined under section 10 of this chapter if:
(2) the improvement is made.
(1) the contract for the improvement is executed; and
Terms Used In Indiana Code 36-9-36-11
- Contract: A legal written agreement that becomes binding when signed.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(b) The special assessments levied under this section may not exceed the cost of the improvement.
(c) If the amount determined under section 10 of this chapter is less than the contract price, the remainder of the cost of the improvement is payable by the unit.
As added by P.L.98-1993, SEC.7.