Indiana § 13-21-9-4 Financing agreement; payments; term; retention of interest in facility
by district

Indiana Statutes

§ 13-21-9-4 — Financing agreement; payments; term; retention of interest in facility by district

Indiana·Art. 21 SOLID WASTE MANAGEMENT DISTRICTS·Ch. 9 Financing: Waste Management Development Bonds

(a)A financing agreement must provide for payments in an amount not less than an amount sufficient to pay:

(1)the principal of;

(2)the premium, if any, of; and

(3)interest on; the waste management development bonds authorized for the financing of the facilities.

(b)The term of a financing agreement may not exceed forty (40) years from the date of any waste management development bonds issued under the agreement. However, a financing agreement does not terminate after forty (40) years if a default under the agreement remains uncured, unless the termination is authorized under the terms of the financing agreement.

(c)If the district retains an interest in the facilities, the financing agreement must require the user or developer to pay all:

(1)costs of maintenance and repair;

(2)taxe

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(a) A financing agreement must provide for
payments in an amount not less than an amount sufficient to pay:
(1) the principal of;
(2) the premium, if any, of; and
(3) interest on;
the waste management development bonds authorized for the financing
of the facilities.
(b) The term of a financing agreement may not exceed forty (40)
years from the date of any waste management development bonds
issued under the agreement. However, a financing agreement does not
terminate after forty (40) years if a default under the agreement remains
uncured, unless the termination is authorized under the terms of the
financing agreement.
(c) If the district retains an interest in the facilities, the financing
agreement must require the user or developer to pay all:
(1) costs of maintenance and repair;
(2) taxes;
(3) assessments;
(4) insurance premiums;
(5) trustee's fees; and
(6) any other expenses relating to the facilities;
so that the district will not incur any expenses due to the facilities that
are not covered by the payments provided for in the financing
agreement.
[Pre-1996 Recodification Citation: 13-9.5-9-5(f).]

Indiana § 13-21-9-4 (Financing agreement; payments; term; retention of interest in facility by district) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.