§ 36-7-29-14 — Form of bonds

Indiana § 36-7-29-14

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 29: Local Environmental Response Financing

Text

(a) All district bonds issued under this
chapter may:
(1) be issued as serial or term bonds or as a combination of both;
(2) be executed and delivered by the district at any time and from
time to time;
(3) bear the date or dates;
(4) bear the maximum interest rates, if fixed rates are used, or
specify any manner in which the interest rate will be determined,
if variable or adjustable rates are used;
(5) be redeemable before their stated maturities on the terms and
conditions and at premiums as determined by the board;
(6) be issued in any denomination of not less than five thousand
dollars ($5,000);
(7) be in a form, either book entry or registered, or both;
(8) carry registration conversion privileges;
(9) be payable in a medium of payment and at a place or places,
which may be at any one (1) or more banks or trust companies
within or outside Indiana;
(10) provide for the replacement of mutilated, destroyed, stolen,
or lost bonds;
(11) be authenticated in a manner and upon compliance with
conditions;
(12) establish reserves from the proceeds of the sale of bonds or
from other funds, or both, to secure the payment of the principal
and interest on the district bonds issued under this chapter; and
(13) contain other terms and covenants;
as provided in the resolution of the board authorizing the district bonds.
(b) The district bonds issued under this chapter may mature at the
time or times not to exceed forty (40) years.
(c) The district bonds issued under this chapter may bear either the
impressed or facsimile seal of the district and shall be executed by the
manual or facsimile signature of the chairperson of the board and
attested by the manual or facsimile signature of the treasurer of the
district, if one (1) of these signatures is manual. However, any
signatures may be facsimiles if the bonds are to be manually
authenticated by a fiduciary.
(d) The district bonds and the interest coupons appertaining to them,
if any, issued under this chapter are valid and binding obligations of the
district for all purposes in accordance with the terms of this chapter,
notwithstanding that before delivery of the district bonds and any
appertaining interest coupons, any of the persons whose signatures
appear on the district bonds and any appertaining interest coupons have
ceased to be officers of the district, as if the persons had continued to
be officers of the district until after delivery.
(e) The district bonds issued under this chapter may be sold at
public or private sale for the price or prices that may be provided in the
resolution authorizing their issuance.

Legislative History

As added by P.L.44-1994, SEC.11.