(a) A statement showing the amount of the reduction of the installments shall be certified to the disbursing officer if:(1) the property is sold by the sheriff under this chapter and the money collected is insufficient to pay the principal and interest in full; or(2) a court orders a reduction of principal and interest as assessed.(b) Upon the receipt of the statement, the disbursing officer shall do the following:(1) Calculate the reduction that applies to each installment.(2) Enter on the bonds the amount of the reduction when the bonds are presented for payment.As added by P.L.98-1993, SEC.7.
Indiana Legal Code