Indiana § 5-1-4-14 Bond resolutions

Indiana Statutes

§ 5-1-4-14 — Bond resolutions

Indiana § 5-1-4-14

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1BONDS AND OTHER OBLIGATIONS

Ch. 4Hospital Bonding Authorities

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Bluebook

Ind. Code § 5-1-4-14 (2026).

Text

Bonds Resolution. Any resolution or resolutions authorizing any bonds or any issue of bonds may contain provisions, which shall be a part of the contract with the holders of the bonds to be authorized, as to:

(1)pledging or assigning the revenues of the project with respect to which such bonds are to be issued;

(2)the rentals, fees and other amounts to be charged, and the amounts to be raised in each year thereby, and the use and disposition of such amounts;

(3)the setting aside of reserves or sinking funds, and the regulation, investment and disposition thereof;

(4)limitations on the use of the project;

(5)limitations on the purpose to which or the investments in which the proceeds of sale of any issue of bonds then or thereafter to be issued may be applied and pledging such proceeds

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Bonds Resolution. Any resolution or
resolutions authorizing any bonds or any issue of bonds may contain
provisions, which shall be a part of the contract with the holders of the
bonds to be authorized, as to: (1) pledging or assigning the revenues of
the project with respect to which such bonds are to be issued; (2) the
rentals, fees and other amounts to be charged, and the amounts to be
raised in each year thereby, and the use and disposition of such
amounts; (3) the setting aside of reserves or sinking funds, and the
regulation, investment and disposition thereof; (4) limitations on the
use of the project; (5) limitations on the purpose to which or the
investments in which the proceeds of sale of any issue of bonds then or
thereafter to be issued may be applied and pledging such proceeds to
secure the payment of the bonds or any issue of the bonds; (6)
limitations on the issuance of additional bonds, the terms upon which
additional bonds may be issued and secured and the refunding of
outstanding bonds; (7) the procedure, if any, by which the terms of any
contract with bondholders may be amended or abrogated, the amount
of bonds the holders of which must consent thereto, and the manner in
which such consent may be given; (8) limitations on the amount of
moneys derived from the project to be expended for operating,
administrative or other expenses of an Authority; (9) defining the acts
or omissions to act which shall constitute a default in the duties of an
Authority to holders of its obligations and providing the rights and
remedies of such holders in the event of a default; (10) the mortgaging
of a project and the site thereof for the purpose of securing the
bondholders; and (11) any other matters relating to the bonds which an
Authority deems desirable.
Formerly: Acts 1971, P.L.41, SEC.1; Acts 1972, P.L.10,
SEC.1.