Public improvement bonds, ordinance, or resolution; construction
bidding
Sec. 9. (a) When the proper officers of a political subdivision
decide to issue bonds payable from property taxes to finance a public
improvement, they shall adopt an ordinance or resolution which sets
forth their determination to issue the bonds. Except as provided in
subsection (b), the political subdivision may not advertise for or
receive bids for the construction of the improvement until the
expiration of the latter of:
(1) the time period within which taxpayers may file a petition
for review of or a remonstrance against the proposed issue; or
(2) the time period during which a petition for review of the
proposed issue is pending before the department of local
government finance.
(b) When a petition for review of a proposed issue is pending
before the department of local government finance, the department
may order the political subdivision to advertise for and receive bids
for the construction of the public improvement. When the department
of local government finance issues such an order, the political
subdivision shall file a bid report with the department within five (5)
days after the bids are received, and the department shall render a
final decision on the proposed issue within fifteen (15) days after it
receives the bid report. Notwithstanding the provisions of this
subsection, a political subdivision may not enter into a contract for
the construction of a public improvement while a petition for review
of the bond issue which is to finance the improvement is pending
before the department of local government finance.
(Formerly: Acts 1975, P.L.47, SEC.1.) As amended by P.L.90-2002,
SEC.196.
Last modified: May 28, 2006