Indiana Code 36-9-36-45. Bonds; date; tax exemption
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Sec. 45. (a) This section applies only to municipalities.
(c) The bonds are exempt from taxation for all purposes.
(b) Bonds issued in anticipation of the collection of assessments for an improvement must bear the date of the completion of the improvement under the contract and the acceptance of the improvement by the works board. The bonds draw interest from that date.
Terms Used In Indiana Code 36-9-36-45
- Contract: A legal written agreement that becomes binding when signed.
As added by P.L.98-1993, SEC.7.