IC 20-48-1-6 — Required debt service fund levy; payment of obligations
Chapter 1. Borrowing and Bonds
Section text
Sec. 6. (a) The governing body shall provide for the payment of principal and interest on bonds executed under section 5 of this chapter by levying annually a tax for its debt service fund that is sufficient to pay the principal and interest as the bonds become due. (b) The bodies charged with the review of budgets and tax levies shall review a levy for principal and interest described in subsection (a) to determine whether the levy is sufficient.
As added by P.L.2-2006, SEC.171. Amended by P.L.244-2017, SEC.115.
Source: official publisher (2026 edition)