Indiana Code 6-1.1-20-3.3. Applicability of other statutes to imposition of property taxes
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Terms Used In Indiana Code 6-1.1-20-3.3
- debt service: means principal of and interest on bonds. See Indiana Code 6-1.1-20-1.2
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- lease: means a lease by a political subdivision of any project with lease rentals payable from property taxes that are exempt from the levy limitations of Indiana Code 6-1.1-20-1.3
- 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. See Indiana Code 6-1.1-20-1.5
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- 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 Indiana Code 6-1.1-20-1.6
- Statute: A law passed by a legislature.
Sec. 3.3. Notwithstanding any other law, a political subdivision may issue or enter into obligations under any statute that requires or permits the imposition of property taxes to pay debt service or lease rentals without pledging to impose property taxes, if necessary, to pay the debt service or lease rentals. If the proper officers of a political subdivision determine to use revenues other than property taxes to pay obligations without pledging to impose property taxes for that purpose, provisions of any other statute relating to controlling property taxes do not apply to the issuance of or entering into the obligations.
As added by P.L.25-1995, SEC.50.
Indiana Code 6-1.1-20.3-3. “Political subdivision”
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Sec. 3. As used in this chapter, “political subdivision” has the meaning set forth in IC 36-1-2-13.
As added by P.L.224-2007, SEC.36.