Sec. 5. (a) If upon appeal under section 1 of this chapter the department determines that a township board should be allowed to borrow money under this chapter, the department shall order the township trustee to borrow the money from a financial institution on behalf of the township board and to deposit the money borrowed in the township's township assistance account.
(b) If upon appeal under section 1 of this chapter the department determines that the township board should not be allowed to borrow money, the board may not do so for that year.
[Pre-1992 Revision Citation: 12-2-4.5-5.]
As added by P.L.2-1992, SEC.14. Amended by P.L.101-2000, SEC.9; P.L.90-2002, SEC.352; P.L.73-2005, SEC.111; P.L.169-2006, SEC.37.
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