§ 36-7.5-4-6 — Bond refunding; leases

Indiana § 36-7.5-4-6

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7.5: NORTHWEST INDIANA REGIONAL
• Ch. 4: Financing; Issuance of Bonds; Leases

Text

(a) Bonds issued under IC 8-5-15, IC 8-22-3,
or IC 36-9-3 or prior law may be refunded as provided in this section.
(b) An eligible political subdivision may:
(1) lease all or a portion of land or a project or projects to the
development authority, which may be at a nominal lease rental
with a lease back to the eligible political subdivision, conditioned
upon the development authority assuming bonds issued under IC 8-5-15, IC 8-22-3, or IC 36-9-3 or prior law and issuing its bonds
to refund those bonds; and
(2) sell all or a portion of land or a project or projects to the
development authority for a price sufficient to provide for the
refunding of those bonds and lease back the land or project or
projects from the development authority.

Legislative History

As added by P.L.214-2005, SEC.73. Amended by P.L.114-2022, SEC.39.