State Codes and Statutes
Statutes > Indiana > Title5 > Ar1 > Ch9IC 5-1-9
Chapter 9. Refunding Bonds of Cities and Towns
IC 5-1-9-1
Issuance; purpose; restrictions
Sec. 1. Any city or town whose indebtedness is evidenced by
bonds, notes, judgments, or other obligations issued, rendered, or
negotiated by the city or town, may, for the purpose of funding or
refunding the indebtedness, or any part thereof, reducing the rate of
interest thereon, extending the time of payment and cancelling so
much thereof as may be or become due, by the vote of two-thirds
(2/3) of the members of the fiscal body of the city or town, issue its
bonds, for an amount not exceeding in the aggregate the whole
amount of the indebtedness of the city or town.
As added by Acts 1980, P.L.8, SEC.15. Amended by P.L.8-1989,
SEC.16.
