Sec. 7. (a) This section does not apply to bonds, notes, or warrants for which a political subdivision:
(1) after June 30, 2008, makes a preliminary determination as described in section 3.1 or 3.5 of this chapter or a decision as described in section 5 of this chapter; or
(2) in the case of bonds, notes, or warrants not subject to section 3.1, 3.5, or 5 of this chapter, adopts a resolution or ordinance authorizing the bonds, notes, or warrants after June 30, 2008.
(b) When the proper officers of a political subdivision decide to issue any bonds, notes, or warrants which will be payable from property taxes and which will bear interest in excess of eight percent (8%) per annum, the political subdivision shall submit the matter to the department of local government finance for review. The department of local government finance may either approve or disapprove the rate of interest.
(c) This section does not apply to a school corporation.
[Pre-1975 Property Tax Recodification Citation: 6-1-1-25 part.]
Formerly: Acts 1975, P.L.47, SEC.1. As amended by P.L.23-1984, SEC.8; P.L.90-2002, SEC.195; P.L.224-2007, SEC.34; P.L.146-2008, SEC.196; P.L.233-2015, SEC.19.
Structure Indiana Code
6-1.1-20-0.5. Project Cost; Exception for Donations
6-1.1-20-1.1. "Controlled Project"
6-1.1-20-1.6. "Property Taxes"
6-1.1-20-1.8. "County Voter Registration Office"
6-1.1-20-1.9. "Registered Voter", "Eligible Voter", and "Owner of Property"
6-1.1-20-2. Lease Obligations and Issuance of Instruments Authorized
6-1.1-20-2.5. Allocation of Certain Project Costs
6-1.1-20-3.2. Petition and Remonstrance Process for Bonds or Lease for Certain Projects
6-1.1-20-3.3. Applicability of Other Statutes to Imposition of Property Taxes
6-1.1-20-3.9. Eligibility to Vote on Public Question
6-1.1-20-9. Public Improvement Bonds, Ordinance, or Resolution; Construction Bidding
6-1.1-20-10. Restrictions on Promoting a Position on a Petition and Remonstrance
6-1.1-20-10.1. Restrictions on Promoting a Position on a Referendum