§ 5-1-4-18 — Rents and charges

Indiana § 5-1-4-18

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1: BONDS AND OTHER OBLIGATIONS
• Ch. 4: Hospital Bonding Authorities

Text

Rents and Charges. Each Authority shall fix,
revise, charge and collect rents for the use of each project and contract
with any participating hospital, in respect thereof. Each lease entered
into by an Authority with a participating hospital shall provide that the
rents payable by the participating hospital shall be sufficient at all
times (a) to pay its share of the administrative costs and expenses of
such Authority, (b) to pay the cost of maintaining, repairing and
operating the project and each and every portion thereof, (c) to pay the
principal of, the premium, if any, and the interest on outstanding bonds
of the Authority issued in respect of such project as the same shall
become due and payable, and (d) to create and maintain reserves which
may but need not be required or provided for in the bond resolution or
trust agreement relating to such bonds of the Authority.
Formerly: Acts 1971, P.L.41, SEC.1; Acts 1972, P.L.10,
SEC.1.