Indiana § 5-1-10-1 - Issuance; purpose; restrictions
Full text of Indiana Indiana Code § 5-1-10-1 — Issuance; purpose; restrictions, with citation guidance and answers to common questions.
§ 5-1-10-1. Issuance; purpose; restrictions
Sec. 1. Any civil township in the state whose indebtedness is evidenced by bonds, notes, judgments, or other obligations issued or negotiated by such township, or rendered against such township, may for the purpose of funding or refunding such indebtedness, or any part thereof, reducing the rate of interest thereon, extending the time of payment and canceling so much thereof as may be or become due, by the vote of two-thirds (2/3) of the members of the township board, and with the approval of the township trustee, issue its bonds, with interest coupons attached, for an amount not exceeding in the aggregate the whole amount of the indebtedness of such township.
[Pre-Local Government Recodification Citation: 17-4-30-1 part.]
As added by Acts 1980, P.L.8, SEC.17. Amended by P.L.8-1987, SEC.6; P.L.233-2015, SEC.6.
IC 5-1-11Chapter 11. Procedures for Selling Bonds
5-1-11-1Public sale; negotiated sale; "bonds"; sale to federal government 5-1-11-2Publication of notice of sale; publication of notice of intent to sell 5-1-11-2Publication of notice of sale; publication of notice of intent to sell 5-1-11-3Maximum interest rate to be fixed; notice of intent to sell; bidding awards; continuation of sale; price of bonds; action to contest validity 5-1-11-4Prohibitions; advantage in bidding; payment before delivery; technical services 5-1-11-5Transcript of proceedings relative to issuance of bonds to be furnished to purchaser 5-1-11-6Other statutory authorization to issue and exchange bonds for refunding or redeeming outstanding bonds 5-1-11-7Restrictions on powers
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-1-10-1
What does Indiana Code § 5-1-10-1 cover?
Section 5-1-10-1 ("Issuance; purpose; restrictions") 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 § 5-1-10-1?
A common citation format is "Indiana Code § 5-1-10-1" (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 § 5-1-10-1 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.