Indiana § 36-7-29-17 - Notes of indebtedness
Full text of Indiana Indiana Code § 36-7-29-17 — Notes of indebtedness, with citation guidance and answers to common questions.
§ 36-7-29-17. Notes of indebtedness
Sec. 17. (a) A district:
(1) pending receipt of any grant; or
(2) in anticipation of the issuance of district bonds under this chapter;
may borrow money from any person and evidence the debt by a note or notes executed by the chairperson of the board and the treasurer of the district. The note or notes must contain the terms and provisions prescribed by the board.
(b) An issuance of a note or notes or evidence of indebtedness under this section may be sold at a public or private negotiated sale.
(c) A note or notes issued or renewed under this section must mature not more than five (5) years from the date of issuance of the original note and must pledge for the payment of the principal and interest the proceeds of the grant or district bonds.
(d) The board shall apply the proceeds of any note or notes issued under this section to the cost of the substance removal or remedial action for which the grant is to be made or bonds issued, but no purchaser of any obligations is liable for the proper application of the proceeds.
(e) Notes issued under this section must be approved by a resolution of the board.
As added by P.L.44-1994, SEC.11.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-7-29-17
What does Indiana Code § 36-7-29-17 cover?
Section 36-7-29-17 ("Notes 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 § 36-7-29-17?
A common citation format is "Indiana Code § 36-7-29-17" (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 § 36-7-29-17 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.