Indiana Code 36-9-38-29. Municipal assessment; manner of payment; other assessments; payment in installments; interest
Current as of: 2023 | Check for updates
|
Other versions
Sec. 29. (a) At the time the municipal works board determines the amount of the assessments, the municipal works board shall also determine the following:
(2) The number of monthly or annual installments over which the other assessments will be paid.
(1) The manner in which the municipality shall pay the municipality’s assessment, if any.
Terms Used In Indiana Code 36-9-38-29
- 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
(3) The maximum rate of interest on the installments, which may be equal to or greater than the interest rate on bonds issued under section 30 of this chapter.
(b) The works board shall certify the determination under subsection (a) to the municipal fiscal officer. This certification must accompany the assessment roll.
As added by P.L.98-1993, SEC.9. Amended by P.L.62-2001, SEC.9.