Terms Used In Indiana Code 6-1.1-20-3.3

• debt service: means principal of and interest on bonds. See Indiana Code 6-1.1-20-1.2
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• lease: means a lease by a political subdivision of any project with lease rentals payable from property taxes that are exempt from the levy limitations of Indiana Code 6-1.1-20-1.3
• 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. See Indiana Code 6-1.1-20-1.5
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• 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
• Statute: A law passed by a legislature.