§ 36-9-30-19 — Revenue bonds; application of proceeds; costs of facility

(a) All money received from any revenue
bonds issued under this chapter, after reimbursements for preliminary
expenses under section 16 of this chapter, shall be applied solely to the
payment of the costs of the facilities acquired or constructed under this
chapter. Any surplus of bond proceeds above that amount shall be paid
into the fund established under section 18 of this chapter. The holders
of the bonds have a lien on the money until it is applied in the manner
prescribed by this section.
(b) For purposes of this section, costs of the facilities include:
(1) the cost of all property and rights considered necessary or
convenient for installing, constructing, and equipping the
facilities;
(2) interest on bonds before and during the acquisition,
installation, construction, and equipment of the facilities, and for
six (6) months after the start of collection of fees under this
chapter;
(3) engineering and legal expenses;
(4) expenses for estimates of cost and revenues;
(5) expenses for surveys and plans;
(6) other expenses necessary or incidental to determining the
feasibility or practicability of the method or methods to be used
for the disposal of solid waste;
(7) administrative expenses; and
(8) other expenses necessary or incidental to financing under this
chapter.
[Pre-Local Government Recodification Citations: 19-2-1-11;
19-2-1-14.]
As added by Acts 1981, P.L.309, SEC.106.