IC 36-9-37-20 — Collection of delinquent assessments; interest penalties
Chapter 37. Barrett Law Funding for Municipalities
Section text
Sec. 20. (a) If any principal and interest, or an installment of principal and interest, is not paid in full when due, the municipal fiscal officer shall enforce payment of the following: (1) The unpaid amount of principal and interest. (2) A penalty of interest at the rate prescribed by subsection (b). (b) If payment is made after a default, the municipal fiscal officer shall also collect a penalty of interest on the delinquent amount at one-half (1/2) the rate prescribed by IC 6-1.1-37-9(b) for each six (6) month period, or fraction of a six (6) month period, from the date when payment should have been made.
As added by P.L.98-1993, SEC.8. Amended by P.L.67-2006, SEC.17; P.L.113-2010, SEC.157.
Source: official publisher (2026 edition)