IC 36-9-41
    Chapter 41. Financing of Public Work Projects by PoliticalSubdivisions

IC 36-9-41-1
Application
    Sec. 1. This chapter applies to the following:
        (1) A public work project that will cost the political subdivisionnot more than two million dollars ($2,000,000).
        (2) An eligible efficiency project that will cost not more thanthree million dollars ($3,000,000).
As added by P.L.81-2004, SEC.47. Amended by P.L.88-2009,SEC.16.

IC 36-9-41-1.5
"Eligible efficiency project"
    Sec. 1.5. As used in this chapter, "eligible efficiency project"means:
        (1) a project necessary or useful to carrying out an interlocalcooperation agreement entered into by two (2) or more politicalsubdivisions or governmental entities under IC 36-1-7; or
        (2) a project necessary or useful to the consolidation of localgovernment services.
As added by P.L.88-2009, SEC.17.

IC 36-9-41-2
"Public work"
    Sec. 2. As used in this chapter, "public work" means a project forthe construction of any public building, highway, street, alley,bridge, sewer, drain, or any other public facility that is paid for outof public funds.
As added by P.L.81-2004, SEC.47.

IC 36-9-41-3
Borrowing by political subdivision to finance public work projector eligible efficiency project; notice; constitutional debt limitation
    Sec. 3. Notwithstanding any other statute, a political subdivisionmay 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 noteunder section 4 of this chapter. The political subdivision shallprovide notice of its determination to issue the note under IC 5-3-1.Money borrowed under this chapter is chargeable against thepolitical subdivision's constitutional debt limitation.
As added by P.L.81-2004, SEC.47. Amended by P.L.88-2009,SEC.18.

IC 36-9-41-4
Terms of the note    Sec. 4. A political subdivision borrowing money under section 3of this chapter shall execute and deliver to the financial institutionthe negotiable note of the political subdivision for the sum borrowed.The note must bear interest, with both principal and interest payablein equal or approximately equal installments on January 1 and July1 each year over a period not exceeding ten (10) years.
As added by P.L.81-2004, SEC.47. Amended by P.L.182-2009(ss),SEC.453.

IC 36-9-41-5
Payments
    Sec. 5. (a) The first installment of principal and interest on a noteexecuted under this chapter is due on the next January 1 or July 1following the first tax collection for which it is possible for thepolitical subdivision to levy a tax under subsection (b).
    (b) The political subdivision shall appropriate an amount for andlevy a tax each year sufficient to pay the political subdivision'sobligation under the note according to its terms.
    (c) An obligation of a political subdivision under a note executedunder this chapter is a valid and binding obligation of the politicalsubdivision, notwithstanding any tax limitation, debt limitation,bonding limitation, borrowing limitation, or other statute to thecontrary.
As added by P.L.81-2004, SEC.47.

IC 36-9-41-6
Taxpayer objections
    Sec. 6. If a political subdivision gives notice under section 3 ofthis chapter of its determination that money should be borrowedunder this chapter, not less than ten (10) taxpayers in the politicalsubdivision who disagree with the determination may file a petitionin the office of the county auditor not more than thirty (30) days afternotice of the determination is given. The petition must state thetaxpayers' objections and the reasons why the taxpayers believe theborrowing to be unnecessary or unwise.
As added by P.L.81-2004, SEC.47.

IC 36-9-41-7
Department of local government finance proceedings
    Sec. 7. (a) Upon receiving a petition under section 6 of thischapter, the county auditor shall immediately certify a copy of thepetition, together with other data necessary to present the questionsinvolved, to the department of local government finance. Uponreceipt of the certified petition and other data, the department oflocal government finance shall fix a time and place for a hearing onthe matter.
    (b) The hearing shall be held not less than five (5) and not morethan thirty (30) days after the department's receipt of the certifiedpetition, and shall be held in the county where the petition arose.
    (c) The department of local government finance shall give notice

of the hearing by letter to the political subdivision and to the first ten(10) taxpayer petitioners listed on the petition. A copy of the lettershall be sent to each of the first ten (10) taxpayer petitioners at thetaxpayer's usual place of residence at least five (5) days before thedate of the hearing. In addition, public notice shall be published atleast five (5) days before the date of the hearing under IC 5-3-1.
    (d) After the hearing under subsection (c), the department of localgovernment shall issue a final determination concerning the petition.
As added by P.L.81-2004, SEC.47.

IC 36-9-41-8
Judicial review
    Sec. 8. A:
        (1) taxpayer who signed a petition filed under section 6 of thischapter; or
        (2) political subdivision against which a petition is filed undersection 6 of this chapter;
may petition the tax court established by IC 33-3-5-1 for judicialreview of the final determination of the department of localgovernment finance on the taxpayers' petition. The petition forjudicial review must be filed in the tax court not more than forty-five(45) days after the date of the department's final determination.
As added by P.L.81-2004, SEC.47.