Ind. Code § 36-9-41-5

Current through P.L. 171-2024
Section 36-9-41-5 - Payments
(a) The political subdivision shall appropriate an amount for and levy a tax each year sufficient to pay the political subdivision's obligation under the note according to its terms.
(b) An obligation of a political subdivision under a note executed under this chapter is a valid and binding obligation of the political subdivision, notwithstanding any tax limitation, debt limitation, bonding limitation, borrowing limitation, or other statute to the contrary.

IC 36-9-41-5

Amended by P.L. 164-2019,SEC. 10, eff. 7/1/2019.
As added by P.L. 81-2004, SEC.47.