Indiana Statutes
§ 14-33-11-4 — Payment of bonds
(a)Revenue bonds issued for the payment of
works of improvement for the collection, treatment, and disposal of
sewage and other liquid wastes may provide that the principal and
interest shall be paid:
(1)solely from the net revenue of the sewage works, which is
gross revenues after deduction only for the reasonable expenses
of operation and maintenance; or
(2)from a combination of net revenue and other money available
to a district by:
(A)levy;
(B)special benefits taxes; or
(C)assessment of exceptional benefits.
(b)The board may covenant with the holders of the bonds to pay:
(1)a certain percentage of principal and interest from the
revenue;
(2)a certain percentage from the other money to maintain a
reasonable reserve from the other money that may be used for
payment of principal
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Legislative History
As added by P.L.1-1995, SEC.26.
Nearby Sections
15
§ 14-10-1-1
Establishment and members of commission§ 14-10-1-2
Filling of vacancies of ex officio members§ 14-10-1-3
Citizen members§ 14-10-1-4
Per diem compensation and traveling expenses§ 14-10-1-5
Officers§ 14-10-1-6
Quorum§ 14-10-1-7
Meetings§ 14-10-2-1
Powers of commission§ 14-10-2-2
Repealed§ 14-10-2-2.5
Consolidated proceedings§ 14-10-2-3
Repealed§ 14-10-2-4
Adoption of rules§ 14-10-2-5
Rules§ 14-10-2-6
Notices of violation