Indiana § 36-9-13-33 Proceeds; application; liens

Indiana Statutes

§ 36-9-13-33 — Proceeds; application; liens

Indiana § 36-9-13-33

Title 36LOCAL GOVERNMENT

Art. 9TRANSPORTATION AND PUBLIC WORKS

Ch. 13County Building Authority

This text of Indiana § 36-9-13-33 (Proceeds; application; liens) 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 § 36-9-13-33 (2026).

Text

(a)The proceeds of any bonds issued under section 30 of this chapter or of any loans made under section 31 of this chapter shall first be applied to the reimbursement of all amounts advanced for preliminary expenses under section 21 of this chapter. The proceeds shall then be applied solely to the payment of the costs for which the bonds are issued or the loan is negotiated, including incidental expenses and interest during construction or acquisition.

(b)The bondholders under section 30 of this chapter, lenders under section 31 of this chapter, or trustees under section 32 of this chapter have a lien upon the proceeds of the bonds or the loan until those proceeds are applied in the manner prescribed by this section. [Pre-Local Government Recodification Citation: 19-8-4-17.] As added by

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

(a) The proceeds of any bonds issued under
section 30 of this chapter or of any loans made under section 31 of this
chapter shall first be applied to the reimbursement of all amounts
advanced for preliminary expenses under section 21 of this chapter.
The proceeds shall then be applied solely to the payment of the costs
for which the bonds are issued or the loan is negotiated, including
incidental expenses and interest during construction or acquisition.
(b) The bondholders under section 30 of this chapter, lenders under
section 31 of this chapter, or trustees under section 32 of this chapter
have a lien upon the proceeds of the bonds or the loan until those
proceeds are applied in the manner prescribed by this section.
[Pre-Local Government Recodification Citation:
19-8-4-17.]
As added by Acts 1981, P.L.309, SEC.86. Amended by
P.L.37-1988, SEC.39.