Indiana § 36-10-9.1-18.1 Bonds; issuance by authority

Indiana Statutes

§ 36-10-9.1-18.1 — Bonds; issuance by authority

Indiana § 36-10-9.1-18.1

Title 36LOCAL GOVERNMENT

Art. 10RECREATION, CULTURE, AND COMMUNITY

Ch. 9.1Marion County Convention and Recreational Facilities

This text of Indiana § 36-10-9.1-18.1 (Bonds; issuance by authority) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 36-10-9.1-18.1 (2026).

Text

1.

(a)The authority may issue bonds for the purpose of obtaining money to pay the cost of:

(1)acquiring property;

(2)constructing, improving, reconstructing, or renovating one (1) or more capital improvements; or

(3)funding or refunding bonds issued under IC 36-10-9 or prior law.

(b)The bonds are payable solely from the lease rentals from the lease of the capital improvements for which the bonds were issued, insurance proceeds, and any other funds pledged or available.

(c)The bonds shall be authorized by a resolution of the board.

(d)The terms and form of the bonds shall either be set out in the resolution or in a form of trust indenture approved by the resolution.

(e)The bonds shall mature within forty (40) years.

(f)The board shall sell the bonds at public or private sale upon s

Free access — add to your briefcase to read the full text and ask questions with AI

1. (a) The authority may issue bonds for
the purpose of obtaining money to pay the cost of:
(1) acquiring property;
(2) constructing, improving, reconstructing, or renovating one (1)
or more capital improvements; or
(3) funding or refunding bonds issued under IC 36-10-9 or prior
law.
(b) The bonds are payable solely from the lease rentals from the
lease of the capital improvements for which the bonds were issued,
insurance proceeds, and any other funds pledged or available.
(c) The bonds shall be authorized by a resolution of the board.
(d) The terms and form of the bonds shall either be set out in the
resolution or in a form of trust indenture approved by the resolution.
(e) The bonds shall mature within forty (40) years.
(f) The board shall sell the bonds at public or private sale upon such
terms as determined by the board.
(g) All money received from any bonds issued under this chapter
shall be applied solely to the payment of the cost of the acquisition or
construction, or both, of capital improvements, or the cost of refunding
or refinancing outstanding bonds, for which the bonds are issued. The
cost may include:
(1) planning and development of the facility and all buildings,
facilities, structures, and improvements related to it;
(2) acquisition of a site and clearing and preparing the site for
construction;
(3) equipment, facilities, structures, and improvements that are
necessary or desirable to make the capital improvement suitable
for use and operations;
(4) architectural, engineering, consultant, and attorney fees;
(5) incidental expenses in connection with the issuance and sale
of bonds;
(6) reserves for principal and interest;
(7) interest during construction;
(8) financial advisory fees;
(9) insurance during construction;
(10) municipal bond insurance, debt service reserve insurance,
letters of credit, or other credit enhancement; and
(11) in the case of refunding or refinancing, payment of the
principal of, redemption premiums (in any) for, and interest on,
the bonds being refunded or refinanced.