(a) This section does not prohibit:

1. (1) the city works board from making long term contracts for utility services under IC 36-9 ; or
2. (2) a department from issuing bonds or other obligations authorized by law.

(c) A city department, officer, or employee may obligate the city beyond the amount of money appropriated for that department, officer, or employee if:

1. (1) the obligation is made under a multi-year interlocal cooperation agreement entered into by the city and one (1) or more political subdivisions or governmental entities under IC 36-1-7 ; and
2. (2) the agreement described in subdivision (1) is approved by the fiscal body of the city.

(d) An obligation described in subsection (c) may be terminated:

1. (1) if the city provides notice of the termination of the obligation at least one (1) year before the termination of the obligation; or

2. (2) the city and the political subdivisions or governmental entities that have entered into the interlocal cooperation agreement otherwise agree to the termination.

   [Pre-Local Government Recodification Citation: 18-1-6-8.]

   As added by Acts 1980, P.L.212, SEC.3. Amended by P.L.30-2012, SEC.2.