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

Indiana § 5-1-17-12

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

Text

(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.

Legislative History

As added by P.L.214-2005, SEC.6.