Indiana § 36-9-37-30 - Payment of bonds at maturity
Full text of Indiana Indiana Code § 36-9-37-30 — Payment of bonds at maturity, with citation guidance and answers to common questions.
§ 36-9-37-30. Payment of bonds at maturity
Sec. 30. (a) Bonds issued in anticipation of the collection of special assessments bear interest until the date of maturity if sufficient money is available to pay the principal of and interest on the bonds at that date.
(b) If sufficient money is not available to pay the principal of and interest on the bonds, any available money that was assessed to pay the bonds shall be paid to the holders of the bonds on a pro rata basis. The unpaid balances of the principal of and interest on the bonds bear interest until the delinquent assessments have been collected. The rate of interest on the unpaid balances must be the same as the rate paid by the bonds before their maturity.
(c) If the principal of and interest on the bonds are not paid in full at their maturity, the bonds must be marked with the following:
(1) The date of payment.
(2) The amount of principal and interest paid.
(3) The balance unpaid.
(d) At every six (6) month period after the maturity of the bonds, the delinquent collections for the payment of the principal of and interest on the bonds and interest on the unpaid balances of the bonds shall be paid on a pro rata basis. Each bond shall be marked with the following:
(1) The amount of principal and interest paid.
(2) The balance unpaid.
(3) The amount of interest paid on unpaid balances.
As added by P.L.98-1993, SEC.8.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-9-37-30
What does Indiana Code § 36-9-37-30 cover?
Section 36-9-37-30 ("Payment of bonds at maturity") 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 § 36-9-37-30?
A common citation format is "Indiana Code § 36-9-37-30" (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 § 36-9-37-30 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.