Indiana § 14-33-20-24 - Restrictions on bonds, notes, or other evidences of indebtedness
Full text of Indiana Indiana Code § 14-33-20-24 — Restrictions on bonds, notes, or other evidences of indebtedness, with citation guidance and answers to common questions.
§ 14-33-20-24. Restrictions on bonds, notes, or other evidences of indebtedness
Sec. 24. (a) The bonds, notes, or other evidences of indebtedness, including interest, are not any of the following:
(1) A debt of the district or the board.
(2) A charge, lien, or encumbrance, legal or equitable, upon:
(A) property of the district; or
(B) income, receipts, or revenues of the district other than the revenues of the water facilities that have been pledged to payment.
(b) Every bond, note, or other evidence of indebtedness must recite in substance the following:
(1) That the bond, note, or other evidence of indebtedness, including interest, is payable solely from the revenues pledged to payment.
(2) That the board is not under an obligation to pay the bond, note, or other evidence of indebtedness except from those revenues.
[Pre-1995 Recodification Citation: 13-3-4-8(f) part.]
As added by P.L.1-1995, SEC.26.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 14-33-20-24
What does Indiana Code § 14-33-20-24 cover?
Section 14-33-20-24 ("Restrictions on bonds, notes, or other evidences of indebtedness") 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 § 14-33-20-24?
A common citation format is "Indiana Code § 14-33-20-24" (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 § 14-33-20-24 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.