Indiana § 14-33-15-5 - District with bonds or notes outstanding
Full text of Indiana Indiana Code § 14-33-15-5 — District with bonds or notes outstanding, with citation guidance and answers to common questions.
§ 14-33-15-5. District with bonds or notes outstanding
Sec. 5. The court may not dissolve a district if the district has bonds or notes outstanding. If the court finds that the activities of the district should cease, the court shall order the district to function only for the purpose of:
(1) certifying necessary assessments or taxes; and
(2) collecting the assessments and taxes;
to pay off the financial obligations of the district. When all financial obligations are paid, the court may order the district dissolved.
[Pre-1995 Recodification Citation: 13-3-3-97(a).]
As added by P.L.1-1995, SEC.26.
IC 14-33-16Chapter 16. Dissolution Due to Lack of Construction
14-33-16-1Applicability of chapter 14-33-16-2Dissolution by election 14-33-16-3Petition 14-33-16-4Determination that petition bears proportion of signatures required 14-33-16-5Election requirements; publication of notice 14-33-16-6List of freeholders 14-33-16-7Ballots 14-33-16-8Assistant secretary and voting list 14-33-16-9Voting procedures 14-33-16-10Absentee ballot 14-33-16-11Election duties of secretary and clerks 14-33-16-12Majority of votes 14-33-16-13Court ordering board to take steps to terminate district activities 14-33-16-14Election costs 14-33-16-15Court ordering final accounting and filing of records; discharging board
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 14-33-15-5
What does Indiana Code § 14-33-15-5 cover?
Section 14-33-15-5 ("District with bonds or notes outstanding") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 14-33-15-5?
A common citation format is "Indiana Code § 14-33-15-5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 14-33-15-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.