CHAPTER 10. FUNDING AND REFUNDING BONDS OF TOWNSHIPS

IC 5-1-10
    Chapter 10. Funding and Refunding Bonds of Townships

IC 5-1-10-1
Issuance; purpose; restrictions
    Sec. 1. Any civil or school township in the state whoseindebtedness is evidenced by bonds, notes, judgments, or otherobligations issued or negotiated by such township, or renderedagainst such township, may for the purpose of funding or refundingsuch indebtedness, or any part thereof, reducing the rate of interestthereon, extending the time of payment and canceling so muchthereof as may be or become due, by the vote of two-thirds (2/3) ofthe members of the township board, and with the approval of thetownship trustee, issue its bonds, with interest coupons attached, foran amount not exceeding in the aggregate the whole amount of theindebtedness of such township.
As added by Acts 1980, P.L.8, SEC.17. Amended by P.L.8-1987,SEC.6.