Treasurer of state payment of delinquent loan payments from city funds held by state

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. As added by P.L.182-2009(ss), SEC.153.