Indiana § 36-8-19-8.7 - Purchase of firefighting equipment on installment conditional sale or mortgage contract
Full text of Indiana Indiana Code § 36-8-19-8.7 — Purchase of firefighting equipment on installment conditional sale or mortgage contract, with citation guidance and answers to common questions.
§ 36-8-19-8.7. Purchase of firefighting equipment on installment conditional sale or mortgage contract
Sec. 8.7. After a sufficient appropriation for the purchase of firefighting apparatus and equipment, including housing, is made and is available, the participating units, with the approval of the fiscal body of each participating unit, may purchase the firefighting apparatus and equipment for the territory on an installment conditional sale or mortgage contract running for a period not exceeding:
(1) six (6) years; or
(2) fifteen (15) years for a territory that:
(A) has a total assessed value of sixty million dollars ($60,000,000) or less, as determined by the department of local government finance; and
(B) is purchasing the firefighting equipment with funding from the:
(i) state or its instrumentalities; or
(ii) federal government or its instrumentalities.
The purchase shall be amortized in equal or approximately equal installments payable on January 1 and July 1 each year.
As added by P.L.83-1998, SEC.4. Amended by P.L.90-2002, SEC.501; P.L.178-2002, SEC.135.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-8-19-8.7
What does Indiana Code § 36-8-19-8.7 cover?
Section 36-8-19-8.7 ("Purchase of firefighting equipment on installment conditional sale or mortgage contract") 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 § 36-8-19-8.7?
A common citation format is "Indiana Code § 36-8-19-8.7" (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 § 36-8-19-8.7 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.