Indiana § 16-22-7-35 Disposition of bond proceeds

Indiana Statutes

§ 16-22-7-35 — Disposition of bond proceeds

Indiana·Title 16 HEALTH·Art. 22 COUNTY HOSPITALS·Ch. 7 Hospital Building Authorities in County With Hospital

The proceeds from bonds issued under this
chapter, after reimbursement for preliminary expenses as provided in
section 14 of this chapter and payment for land, shall be applied to the
payment of the costs of the buildings on account of which the bonds are
issued, including incidental expenses and interest during construction.
Until the proceeds are applied as required in this section, the proceeds
are subject to a lien in favor of the bondholders or the trustees.
[Pre-1993 Recodification Citation: 16-12-20.5-20.]

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The proceeds from bonds issued under this
chapter, after reimbursement for preliminary expenses as provided in
section 14 of this chapter and payment for land, shall be applied to the
payment of the costs of the buildings on account of which the bonds are
issued, including incidental expenses and interest during construction.
Until the proceeds are applied as required in this section, the proceeds
are subject to a lien in favor of the bondholders or the trustees.
[Pre-1993 Recodification Citation: 16-12-20.5-20.]

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