Sec. 11. The proceeds of a loan received by an eligible county under this chapter are not considered to be part of the ad valorem property tax levy actually collected by the eligible county for taxes first due and payable during a particular calendar year for the purpose of calculating levy excess.
As added by P.L.182-2009(ss), SEC.150.
Structure Indiana Code
Chapter 20.2. Rainy Day Fund Loans to Certain Counties
6-1.1-20.2-2. "Eligible County"
6-1.1-20.2-3. Eligible County May Apply to Board for Loan
6-1.1-20.2-4. Board Determines Terms of Any Loan After Review by Budget Committee
6-1.1-20.2-5. Interest on Loan
6-1.1-20.2-6. Term of Loan Repayment; Penalty
6-1.1-20.2-7. Disbursement of Loan Proceeds by Board
6-1.1-20.2-8. Repayment of Loan by Eligible County From Any Revenue Sources
6-1.1-20.2-9. Obligation to Repay Loan Not Basis to Obtain Excessive Tax Levy
6-1.1-20.2-10. Deposit by Board of Loan Payments
6-1.1-20.2-11. Loan Proceeds Received Not Considered Part of Levy Excess
6-1.1-20.2-12. Chapter Constitutes Complete Authority for Loans