Ind. Code § 5-1-13-3
This is the official text of Ind. Code § 5-1-13-3, part of Indiana’s Code — part of the compiled statutory law of Indiana, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Income from investment of proceeds of sale of bonds; application
Official statutory text
Sec. 3. Notwithstanding any other law, income from the investment of proceeds of the sale of bonds issued by any political subdivision that are payable from property taxes shall be applied to the improvement or the public purpose for which the bonds were issued or shall be used to pay interest on the bonds and in no event may such income be used for any other purpose except as provided in section 2 of this chapter.
As added by P.L.24-1984, SEC.3.
As added by P.L.24-1984, SEC.3.
Status: in_force · Read it on the official government site
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