§ 5-1-18-7 — Bond report requirements; uniformity; electronic submission

Indiana § 5-1-18-7

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1: BONDS AND OTHER OBLIGATIONS
• Ch. 18: Reports Concerning Bonds and Leases of Political

Text

(a) Except as provided by subsection (b), the
debt issuance report required by section 6 of this chapter must be
submitted on a form prescribed by the department and must include the
following information concerning bonds:
(1) The par value of the bond issue.
(2) A schedule of maturities and interest rates.
(3) The purposes of the bond issue.
(4) The itemized costs of issuance information, including fees for
bond counsel, other legal counsel, underwriters, and financial
advisors.
(5) The type of bonds that are issued.
(6) Other information as required by the department.
A copy of the official statement and bond covenants, if any, must be
supplied with this information.
(b) A political subdivision or a person acting on behalf of a political
subdivision shall submit the debt issuance report information described
in subsection (a) to the department electronically, in the manner
prescribed by the department.
(c) For taxes due and payable for an assessment date after January
15, 2012, the department may not approve an appropriation or a
property tax levy that is associated with a debt unless the debt issuance
report for the debt has been submitted to the department, unless the
department has granted a waiver under subsection (d).
(d) The department may for good cause grant a waiver to the
requirement under subsection (c) and approve an appropriation or a
property tax levy, notwithstanding a political subdivision's failure to
submit a required debt issuance report.

Legislative History

As added by P.L.199-2005, SEC.2. Amended by P.L.137-2012, SEC.5.