Sec. 60. (a) A statement showing the amount of the reduction of the installments shall be certified to the disbursing officer if: (1) the property is sold by the sheriff under this chapter and the money collected is insufficient to pay the principal and interest in full; or (2) a court orders a reduction of principal and interest as assessed. (b) Upon the receipt of the statement, the disbursing officer shall do the following: (1) Calculate the reduction that applies to each installment. (2) Enter on the bonds the amount of the reduction when the bonds are presented for payment.
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