§ 36-8-15-15 — Bonds; issuance; amount

Indiana § 36-8-15-15

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 8: PUBLIC SAFETY
• Ch. 15: Public Safety Communications Systems and Computer

Text

(a) For the purpose of raising money to pay
for any real or personal property to be acquired for a project within the
district or to pay for the purchasing, acquiring, erecting, installing,
constructing, equipping, or upgrading of a facility within the district,
and in anticipation of the special benefit tax, the board may cause
bonds to be issued in the name of the consolidated city (in counties
having a consolidated city) for the benefit of the district. In a county
having a consolidated city, the bonds shall be issued in accordance with
IC 36-3-5-8.
(b) The bonds may be in an amount not to exceed the estimated cost
of all real and personal property to be acquired and the estimated cost
of the facilities, including all expenses necessarily incurred in
connection with the proceedings, together with a sum sufficient to pay
the costs of supervision and inspection during the period of
construction and all costs of programming, planning, and designing the
facilities. The expenses to be covered in the amount of the bond issue
include all expenses of every kind actually incurred preliminary to the
acquisition of property and the installation of the facilities, such as the
cost of necessary records, engineering expenses, publication of notices,
salaries, the letting of contracts, and the sale of bonds.
(c) The bonds issued may not exceed the estimates for the project
as determined in the resolution adopted by the board under section 12
of this chapter.
(d) Any surplus of bond proceeds remaining after all costs and
expenses have been fully paid shall be paid into the public
communications systems and computer facilities district bond fund.
The board may appropriate the proceeds of the bonds.

Legislative History

As added by P.L.82-1985, SEC.3. Amended by P.L.225-1986, SEC.6.