Indiana Code 6-1.1-20-1.5. “Obligations”
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Terms Used In Indiana Code 6-1.1-20-1.5
- Contract: A legal written agreement that becomes binding when signed.
- property taxes: means a property tax rate or levy to pay debt service or to pay lease rentals, but does not include taxes allocated for an allocation area under Indiana Code 6-1.1-20-1.6
Sec. 1.5. As used in this chapter, “obligations” refers to a contract or promise to pay of a political subdivision that would be considered a bond or lease under this chapter but for the fact that it is payable solely from funds other than property taxes.
As added by P.L.25-1995, SEC.44.