State Codes and Statutes
Statutes > Indiana > Title5 > Ar1 > Ch10IC 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 whose
indebtedness is evidenced by bonds, notes, judgments, or other
obligations issued or negotiated by such township, or rendered
against such township, may for the purpose of funding or refunding
such indebtedness, or any part thereof, reducing the rate of interest
thereon, extending the time of payment and canceling so much
thereof as may be or become due, by the vote of two-thirds (2/3) of
the members of the township board, and with the approval of the
township trustee, issue its bonds, with interest coupons attached, for
an amount not exceeding in the aggregate the whole amount of the
indebtedness of such township.
As added by Acts 1980, P.L.8, SEC.17. Amended by P.L.8-1987,
SEC.6.
