Borrowing by political subdivision to finance public work project or eligible efficiency project; notice; constitutional debt limitation
Ind. Code § 36-9-41-3
in effectSec. 3. Notwithstanding any other statute, a political subdivision may borrow the money necessary to finance:
(1) a public work project; or
(2) an eligible efficiency project;
from a financial institution in Indiana by executing a negotiable note under section 4 of this chapter. The political subdivision shall provide notice of its determination to issue the note under IC 5-3-1. Money borrowed under this chapter is chargeable against the political subdivision's constitutional debt limitation.
As added by P.L.81-2004, SEC.47. Amended by P.L.88-2009, SEC.18.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/36Fetched: 10/17/2026