IC 6-1.1-20.3-6: Petitions to the board; petition by treasurer of state

Sec. 6. (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).