Sec. 12. (a) The district may not issue waste management district bonds under this chapter that are payable by special taxation or fees under IC 13-21-14 in a total amount, including outstanding bonds already issued, exceeding six percent (6%) of the adjusted value of taxable property in the district as determined under IC 36-1-15.
(b) All waste management district bonds issued in violation of this section or IC 13-9.5-9-3(k) (before its repeal) are void.
[Pre-1996 Recodification Citation: 13-9.5-9-3(k).]
As added by P.L.1-1996, SEC.11. Amended by P.L.6-1997, SEC.157.
Structure Indiana Code
Article 21. Solid Waste Management Districts
Chapter 7. Financing: Waste Management District Bonds
13-21-7-1. Special Taxing Districts
13-21-7-2. Waste Management District Bonds; Bidding Requirements for Facility
13-21-7-3. Resolution to Construct, Modify, Acquire, or Maintain Facility; Public Notice
13-21-7-4. Hearing; Remonstrance; Final Action
13-21-7-6. Certified Copy of Resolution and Approval to Controller
13-21-7-7. Waste Management District Bonds Not Corporate Obligation or Unit Indebtedness
13-21-7-8. Proceeds From Sale of Bonds; Use of Funds
13-21-7-9. Special Tax on Real Property
13-21-7-10. Certification of Tax Levy; Distribution of Tax
13-21-7-11. Factors to Consider in Determining Amount of Tax Levy
13-21-7-12. Issuance of Waste Management District Bonds Under Certain Circumstances