(a) The fiscal body and the executive of a political subdivision may jointly file a petition with the board seeking to have the political subdivision designated as a distressed political subdivision under this chapter.(b) The governing body or the superintendent of a school corporation may do any of the following:(1) File a petition with the board seeking relief under section 8.3 of this chapter.(2) File a petition with the board seeking to have the school corporation designated as a distressed political subdivision under this chapter.(c) If the treasurer of state has reason to believe that a school corporation will not be able to pay the school corporation's debt service obligations (as defined in IC 20-48-1-11) as those debt service obligations become due, the treasurer of state may file a petition with the board seeking to have the school corporation designated as a distressed political subdivision under this chapter.(d) The board may adopt procedures governing the timing and required content of a petition under subsection (a) or (c).As added by P.L.224-2007, SEC.36. Amended by P.L.146-2008, SEC.205; P.L.145-2012, SEC.5; P.L.257-2013, SEC.20; P.L.241-2017, SEC.6; ming and required content of a petition under subsection (a) or (c).As added by P.L.224-2007, SEC.36. Amended by P.L.146-2008, SEC.205; P.L.145-2012, SEC.5; P.L.257-2013, SEC.20; P.L.241-2017, SEC.6; P.L.244-2017, SEC.11; P.L.140-2018, SEC.2.
Indiana Legal Code