Indiana § 36-9-23-23 - Bonds; enforcement rights of holders; receivership
Full text of Indiana Indiana Code § 36-9-23-23 — Bonds; enforcement rights of holders; receivership, with citation guidance and answers to common questions.
§ 36-9-23-23. Bonds; enforcement rights of holders; receivership
Sec. 23. (a) The rights granted by this section are subject to any restrictions contained in the ordinance authorizing the issuance of revenue bonds or in any trust indenture securing the bonds.
(b) The holder of any revenue bonds or any coupons attached to them, and the trustee, if any, may, either at law or in equity, protect and enforce all rights granted by this chapter or under the ordinance or trust indenture, including the making and collecting of reasonable and sufficient fees for services rendered by the sewage works.
(c) If the principal or interest of any of the revenue bonds is not paid on the date named in the bonds for payment, any court having jurisdiction of the action may appoint a receiver to administer the sewage works on behalf of the municipality, the bondholders, and the trustee, if any. The receiver may:
(1) charge and collect fees sufficient to provide for the payment of the expenses of operation, repair, and maintenance of the works;
(2) pay any revenue bonds and interest outstanding; and
(3) apply the revenues in conformity with this chapter, the ordinance authorizing the bond issue, and the trust indenture, if any.
[Pre-Local Government Recodification Citation: 19-2-5-17.]
As added by Acts 1981, P.L.309, SEC.96.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-9-23-23
What does Indiana Code § 36-9-23-23 cover?
Section 36-9-23-23 ("Bonds; enforcement rights of holders; receivership") 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 § 36-9-23-23?
A common citation format is "Indiana Code § 36-9-23-23" (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 § 36-9-23-23 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.