§ 5-1-17.5-38 — Authority for certain actions by the commission and the Indiana finance authority; bonds as legal investments

Indiana § 5-1-17.5-38

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1: BONDS AND OTHER OBLIGATIONS
• Ch. 17.5: Motorsports Investment District

Text

(a) This chapter contains full and complete
authority for the issuance of bonds, the improvement, construction,
reconstruction, renovation, purchase, lease, acquisition, and equipping
of structures and capital improvements located within a motorsports
investment district by the commission and the authority, and the leasing
of such structures and capital improvements by the commission or the
authority. No law, procedure, proceedings, publications, notices,
consents, approvals, orders, or acts by the commission, the authority,
or any other officer, department, agency, or instrumentality of the state
or of any political subdivision is required to issue any bonds under this
chapter, to improve, construct, reconstruct, renovate, purchase, lease,
acquire, and equip structures and capital improvements located within
a motorsports investment district, or to enter into any lease, except as
prescribed in this chapter.
(b) Bonds issued under this chapter are legal investments for private
trust funds and the funds of banks, trust companies, insurance
companies, building and loan associations, credit unions, banks of
discount and deposit, savings banks, loan and trust and safe deposit
companies, rural loan and savings associations, guaranty loan and
savings associations, mortgage guaranty companies, small loan
companies, industrial loan and investment companies, and other
financial institutions organized under Indiana law.

Legislative History

As added by P.L.233-2013, SEC.5.