Indiana Code 36-9-41-3. Borrowing by political subdivision to finance public work project or eligible efficiency project; notice; constitutional debt limitation
Current as of: 2023 | Check for updates
|
Other versions
Sec. 3. Notwithstanding any other statute, a political subdivision may borrow the money necessary to finance:
(2) an eligible efficiency project;
(1) a public work project; or
Terms Used In Indiana Code 36-9-41-3
- eligible efficiency project: means :
Indiana Code 36-9-41-1.5
- public work: means a project for the construction of any public building, highway, street, alley, bridge, sewer, drain, or any other public facility that is paid for out of public funds. See Indiana Code 36-9-41-2
- Statute: A law passed by a legislature.
from a financial institution in Indiana by executing a negotiable note under section 4 of this chapter. The political subdivision shall provide notice of its determination to issue the note under IC 5-3-1. Money borrowed under this chapter is chargeable against the political subdivision’s constitutional debt limitation.
As added by P.L.81-2004, SEC.47. Amended by P.L.88-2009, SEC.18.