Sec. 8. Subject to the approval of the legislative body under IC 36-7-14 or IC 36-7-15.1, as applicable, the redevelopment commission may issue notes or bonds payable from the special improvement assessments. These assessments are not ad valorem property taxes, and any bonds issued and payable by the assessment revenues are not a general obligation of the unit that established the special improvement district.
As added by P.L.380-1987(ss), SEC.20.
Structure Indiana Code
Article 7. Planning and Development
Chapter 21. Special Improvement Districts for Redevelopment of Blighted Areas
36-7-21-1. Application of Chapter
36-7-21-2. Legislative Finding
36-7-21-3. Establishment of Special Improvement District; Prerequisite Findings
36-7-21-4. Resolution Requesting Establishment of District; Contents
36-7-21-5. Apportionment of Benefits; Adjustment
36-7-21-8. Bonds or Notes Payable From Special Improvement Assessments