Indiana § 36-7.5-4.5-23 Funding of development projects within a transit development district;
uses

Indiana Statutes

§ 36-7.5-4.5-23 — Funding of development projects within a transit development district; uses

Indiana § 36-7.5-4.5-23

Title 36LOCAL GOVERNMENT

Art. 7.5NORTHWEST INDIANA REGIONAL

Ch. 4.5Rail Transit Development Districts

This text of Indiana § 36-7.5-4.5-23 (Funding of development projects within a transit development district; uses) 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 § 36-7.5-4.5-23 (2026).

Text

(a)The development authority or redevelopment commission may undertake or provide funding for a development project that will be located within a district.

(b)The development authority or redevelopment commission may use money in its south shore improvement and development fund to provide funding and pay costs for a development project, including in the form of financing for a development project. If financing is used for a development project the obligation must be satisfied before the expiration of this chapter. Costs may be incurred for one (1) or more of the following:

(1)Planning and development of the improvement and all buildings, facilities, structures, and improvements related to the improvement.

(2)Acquisition of a site and clearing and preparing the site for construction. (3

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(a) The development authority or
redevelopment commission may undertake or provide funding for a
development project that will be located within a district.
(b) The development authority or redevelopment commission may
use money in its south shore improvement and development fund to
provide funding and pay costs for a development project, including in
the form of financing for a development project. If financing is used for
a development project the obligation must be satisfied before the
expiration of this chapter. Costs may be incurred for one (1) or more of
the following:
(1) Planning and development of the improvement and all
buildings, facilities, structures, and improvements related to the
improvement.
(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's 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) Bond insurance, debt service reserve insurance, letters of
credit, or other credit enhancement.
(11) In the case of refunding or refinancing, payment of the
principal of, redemption premiums (if any) for, and interest on the
bonds being refunded or refinanced.
(c) To use money in its south shore improvement and development
fund for a development project, the development authority or
redevelopment commission must adopt a resolution under IC 36-7.5-3
setting forth the development authority's or redevelopment
commission's approval of the development project.