Sec. 23.5. (a) With respect to assessments imposed after June 30, 2001, the works board shall establish a procedure to permit owners of real property in the improvement district to elect whether to pay assessments in:
(1) one (1), five (5), ten (10), fifteen (15), or twenty (20) annual installments; or
(2) a number of monthly installments that corresponds to one (1), five (5), ten (10), fifteen (15), or twenty (20) installments.
(b) The works board shall establish the timing of the election under subsection (a) to permit the works board to structure the maturities of the principal of the bonds in a number of annual series that is consistent with the installment periods elected by owners of real property under subsection (a).
As added by P.L.62-2001, SEC.8.
Structure Indiana Code
Article 9. Transportation and Public Works
Chapter 38. Barrett Law Funding for Municipal Improvement Districts
36-9-38-1. Application of Chapter
36-9-38-2. Permissible Improvements
36-9-38-3. Improvement to Be Owned, Maintained, and Operated by Municipality
36-9-38-5. Application of Ic 36-9-36 and Ic 36-9-37
36-9-38-6. Persons Having the Same Rights and Powers as the Owner of Fee Simple Title
36-9-38-7. Petition to Establish District
36-9-38-10. Association Established Under Ic 36-9-38-8; Notice; Meeting
36-9-38-11. Association Established Under Ic 36-9-38-8; Directors; Bylaws
36-9-38-13. Notice of Hearing on Establishment of District
36-9-38-14. Petition in Opposition to District; Termination of Proceedings
36-9-38-15. Conduct of Hearing; Resolution
36-9-38-18. Plans, Specifications, and Cost Estimates
36-9-38-19. Eminent Domain; Vacation of Streets and Alleys; Property Owned by Government Entities
36-9-38-20. Letting of Construction Contracts; Actions to Enjoin Performance; Limitations
36-9-38-21. Appointment of Appraisers to Assess Benefits and Costs
36-9-38-22. Appointment of Appraisers; Assessment of Benefits and Costs; Filing of Roll
36-9-38-23.5. Assessments; Installment Payments
36-9-38-24. Final Determination of Costs; Revised Assessment
36-9-38-25. Appraisers; Qualification for Appointment
36-9-38-26. Notice of Proposed Assessments to Property Owners; Contents
36-9-38-28. Lien of Assessment
36-9-38-31. Fees for Use of Improvement; Changes; Hearing Upon Petition in Cases of Certain Changes
36-9-38-32. Fees for Use of Improvement; Excess Revenues; Payment of Bonds
36-9-38-33. Fees for Use of Improvement; Amount Limitation Following Retirement of Bonds