Indiana § 16-22-5-17 Loans

Indiana Statutes

§ 16-22-5-17 — Loans

Indiana·Title 16 HEALTH·Art. 22 COUNTY HOSPITALS·Ch. 5 Financing Hospital Buildings

(a)The governing board may borrow money and may secure the borrowing by a pledge of the following:

(1)Amounts from the cumulative building fund.

(2)Accounts receivable.

(3)A security interest in capital equipment for which the proceeds of the loan is used.

(4)Other security, including the excess of unobligated revenues over operating expenses.

(b)The term of a loan may not exceed thirty-five (35) years. [Pre-1993 Recodification Citation: 16-12.1-4-7.]

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(a) The governing board may borrow money
and may secure the borrowing by a pledge of the following:
(1) Amounts from the cumulative building fund.
(2) Accounts receivable.
(3) A security interest in capital equipment for which the proceeds
of the loan is used.
(4) Other security, including the excess of unobligated revenues
over operating expenses.
(b) The term of a loan may not exceed thirty-five (35) years.
[Pre-1993 Recodification Citation: 16-12.1-4-7.]

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