Indiana § 5-1-17-12 Bonds; refunding; leases; property

Indiana Statutes

§ 5-1-17-12 — Bonds; refunding; leases; property

Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 1 BONDS AND OTHER OBLIGATIONS·Ch. 17 Indiana Stadium and Convention Building Authority

(a)Bonds issued under IC 36-10-8 or IC 36-10-9 or prior law may be refunded as provided in this section.

(b)A capital improvement board may:

(1)lease all or a portion of land or a capital improvement or improvements to the authority, which may be at a nominal lease rental with a lease back to the capital improvement board, conditioned upon the authority assuming bonds issued under IC 36-10-8 or IC 36-10-9 or prior law and issuing its bonds to refund those bonds; and

(2)sell all or a portion of land or a capital improvement or improvements to the authority for a price sufficient to provide for the refunding of those bonds and lease back the land or capital improvement or improvements from the authority.

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(a) Bonds issued under IC 36-10-8 or IC 36-10-9 or prior law may be refunded as provided in this section.
(b) A capital improvement board may:
(1) lease all or a portion of land or a capital improvement or
improvements to the authority, which may be at a nominal lease
rental with a lease back to the capital improvement board,
conditioned upon the authority assuming bonds issued under IC 36-10-8 or IC 36-10-9 or prior law and issuing its bonds to refund
those bonds; and
(2) sell all or a portion of land or a capital improvement or
improvements to the authority for a price sufficient to provide for
the refunding of those bonds and lease back the land or capital
improvement or improvements from the authority.

Indiana § 5-1-17-12 (Bonds; refunding; leases; property) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.