Indiana Code 36-9-36-39. Appeal of assessment; payment of part ordered to be assessed against unit
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Sec. 39. The following applies to any part of the assessment that the court orders to be assessed against the unit:
(A) from the date of the final acceptance of the work; and
(1) The assessment bears interest:
Terms Used In Indiana Code 36-9-36-39
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(B) at a specified rate per year that is not less than the interest rate specified for installments under section 36 of this chapter.
(2) The assessment may be paid by the unit in any manner provided by law for paying other assessments against the unit for similar work.
As added by P.L.98-1993, SEC.7.