Sec. 14. Upon the failure of the city of LaPorte to make any of the city's payments on a loan granted under this chapter when due, the treasurer of state, upon being notified of the failure by the board, may pay the unpaid amount that is due from the funds held by the state that would be otherwise distributable to the city.
Ind. Code § 6-1.1-21.1-14
Treasurer of state payment of delinquent loan payments from city funds held by state
As added by P.L.182-2009(ss), SEC.153.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.