Note: This version of section effective until 7-1-2027. See also following version of this section, effective 7-1-2027. Sec. 18. A civil taxing unit may pledge its certified shares to the payment of bonds or to lease payments for: (1) any purpose of the civil taxing unit; (2) any purpose of another governmental entity located in any part in the county, including a governmental entity organized on a regional basis; or (3) any purpose for which certified shares may be used under IC 6-3.6-10 . The pledge must be approved in an ordinance adopted by the fiscal body of the political subdivision. IC 6-3.6-6-18 Pledge of general purpose revenue; payment of bonds; lease payments; approval by fiscal body Note: This version of section effective 7-1-2027. See also preceding version of this section, effective until 7-1-2027. Sec. 18. (a) A county, city, town, or nonmunicipal civil taxing unit may pledge its general purpose revenue to the payment of bonds or to lease payments for: (1) any purpose of the unit; (2) any purpose of another governmental entity located in any part in the county, including a governmental entity organized on a regional basis; or (3) any purpose for which general purpose revenue may be used by the unit under this chapter. (b) The pledge must be approved in an ordinance adopted by the fiscal body of the political subdivision.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.