Ind. Code § 14-33-21-14

Current through P.L. 171-2024

Section 14-33-21-14 - Discharge of obligation

If a federal or state agency, according to statute or contractual obligation, demands immediate or prompt action by the district in construction of, adding to, or repairing works of improvement, the district:

(1) may not defend that not enough money for the work has accumulated in the fund; and

(2) shall use the accumulation of money in the fund, including the proceeds of:

(A) borrowing;

(B) the collection of tax or assessments; or

(C) both borrowing and the collection of tax or assessments;

to discharge the obligation.

IC 14-33-21-14

Pre-1995 Recodification Citation: 13-3-5-9.

As added by P.L. 1-1995, SEC.26.