Indiana § 36-9-36-62 - Improvement costs to be paid by unit; bonds and certificates of indebtedness
Full text of Indiana Indiana Code § 36-9-36-62 — Improvement costs to be paid by unit; bonds and certificates of indebtedness, with citation guidance and answers to common questions.
§ 36-9-36-62. Improvement costs to be paid by unit; bonds and certificates of indebtedness
Sec. 62. (a) A difference between the total assessments for an improvement and the contract price of the improvement shall be paid by the unit.
(b) The unit's part of the cost of an improvement shall, if possible, be paid from the general fund of the unit. If payment from the unit's general fund is not possible, the unit may issue bonds or certificates of indebtedness to the contractor for the amount of the unit's part of the cost. The unit's fiscal officer shall issue the bonds or certificates and shall fix the denominations of the bonds or certificates at the time of the approval of the final assessment roll and at the time of a subsequent reduction of assessments on appeal.
(c) The certificates of indebtedness issued under this section (or under IC 36-9-18 before its repeal in 1993) entitle the contractor to the amounts the certificates specify when a fund for redemption of the certificates has been provided.
(d) The certificates of indebtedness are negotiable instruments and bear interest from the date of the final acceptance of the work.
As added by P.L.98-1993, SEC.7.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-9-36-62
What does Indiana Code § 36-9-36-62 cover?
Section 36-9-36-62 ("Improvement costs to be paid by unit; bonds and certificates 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 § 36-9-36-62?
A common citation format is "Indiana Code § 36-9-36-62" (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 § 36-9-36-62 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.