Indiana Code 5-1-11-7. Restrictions on powers
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Terms Used In Indiana Code 5-1-11-7
- bonds: as used in this chapter means any obligations issued by or in the name of any of the political subdivisions or bodies referred to in subsection (a), except obligations payable in the year in which they are issued, obligations issued in anticipation of the collection of delinquent taxes, and obligations issued in anticipation of the collection of frozen bank deposits. See Indiana Code 5-1-11-1
Sec. 7. Nothing in this chapter contained shall be so construed as to enlarge the powers of counties, townships, cities, towns, school corporations, and special taxing districts, or agencies or instrumentalities thereof to issue bonds.
[Pre-Local Government Recodification Citation: 19-8-5-7.]
As added by Acts 1980, P.L.8, SEC.19.