- (a) A municipality may assume primary responsibility for the full payment of principal and interest of all bonds issued under this chapter (or under IC 36-9-19 before its repeal in 1993) for the improvement.
(b) The following apply if the municipality assumes the responsibility under subsection (a) for the full payment of principal and interest:
- (1) All payments of principal and interest shall be made by the municipal fiscal officer out of appropriations for the project.
- (2) The municipality shall be reimbursed by the collection of special assessments under the Barrett Law.
As added by P.L.98-1993, SEC.8.