Indiana Code 14-33-21-14. Discharge of obligation
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Sec. 14. 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:
(2) shall use the accumulation of money in the fund, including the proceeds of:
(1) may not defend that not enough money for the work has accumulated in the fund; and
Terms Used In Indiana Code 14-33-21-14
- fund: refers to a cumulative improvement fund established under this chapter. See Indiana Code 14-33-21-1
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Statute: A law passed by a legislature.
(A) borrowing;
(B) the collection of tax or assessments; or
(C) both borrowing and the collection of tax or assessments;
to discharge the obligation.
[Pre-1995 Recodification Citation: 13-3-5-9.]
As added by P.L.1-1995, SEC.26.