Terms Used In Indiana Code 6-1.1-20-1.5

  • Contract: A legal written agreement that becomes binding when signed.
  • property taxes: means a property tax rate or levy to pay debt service or to pay lease rentals, but does not include taxes allocated for an allocation area under IC 6-1. See Indiana Code 6-1.1-20-1.6
Sec. 1.5. As used in this chapter, “obligations” refers to a contract or promise to pay of a political subdivision that would be considered a bond or lease under this chapter but for the fact that it is payable solely from funds other than property taxes.

As added by P.L.25-1995, SEC.44.