Indiana § 36-9-36-41 - Installment payment procedure; proceeds constituting special fund for payment of improvement; diversion prohibited
Full text of Indiana Indiana Code § 36-9-36-41 — Installment payment procedure; proceeds constituting special fund for payment of improvement; diversion prohibited, with citation guidance and answers to common questions.
§ 36-9-36-41. Installment payment procedure; proceeds constituting special fund for payment of improvement; diversion prohibited
Sec. 41. (a) The disbursing officer of the unit shall do the following:
(1) Receive the payment of assessment installments.
(2) Keep all accounts and give proper vouchers for the payment of assessment installments.
(b) Proceeds arising from assessments for the payment of a particular improvement may not be diverted to the payment of any other improvement.
(c) The proceeds from assessments for the payment of a particular improvement constitute a separate special fund for the following:
(1) The payment of contractors for the particular work, upon the allowance of estimates by the works board.
(2) The security and payment of any bonds issued in anticipation of the collection of the assessments for the improvement, including debt service reserves to secure the payment of the bonds.
(3) The payment of expenses incurred by the unit in performing the unit's duties under this chapter, IC 36-9-37, IC 36-9-38, and IC 36-9-39 (or under IC 36-9-18 through IC 36-9-21, before the repeal of those provisions in 1993), including expenses, duties, and costs associated with the issuance, sale, or payment of the bonds.
As added by P.L.98-1993, SEC.7.
Frequently Asked Questions About Indiana § 36-9-36-41
What does Indiana Code § 36-9-36-41 cover?
Section 36-9-36-41 ("Installment payment procedure; proceeds constituting special fund for payment of improvement; diversion prohibited") 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 § 36-9-36-41?
A common citation format is "Indiana Code § 36-9-36-41" (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 § 36-9-36-41 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.