§ 5-1-5-1 — Definitions

The following terms as used in this chapter have
the following meanings:
(1) "Governing body" means the council, commission, board of
commissioners, board of directors, board of trustees, or other
legislative body in which the legislative powers of the issuing
body are vested.
(2) "Issuing body" means the state of Indiana, its agencies,
commissions, universities, colleges, institutions, political
subdivisions, counties, school corporations, hospital associations,
municipal and quasi-municipal corporations, special taxing
districts, and any corporation which has issued bonds payable
directly or indirectly from lease rentals payable by any of the
foregoing issuing bodies now or hereafter existing under the laws
of the state.
(3) "Bond" means any revenue bond, general obligation bond, or
advance refunding bond.
(4) "Revenue bond" means any bond, note, warrant, certificate of
indebtedness, or other obligation, including a certificate or other
evidence of participation in the lessor's interest in and rights
under a lease, for the payment of money issued by an issuing body
or any predecessor of any issuing body which is payable from
designated revenues, rental payments, special benefits, taxes, or
a special fund but excluding any obligation constituting an
indebtedness within the meaning of the constitutional debt
limitation and any obligation payable solely from special
assessments or special assessments and a guaranty fund.
(5) "General obligation bond" means any bond, note, warrant,
certificate of indebtedness, or other obligation of an issuing body
which constitutes an indebtedness within the meaning of the
constitutional debt limitation.
(6) "Advance refunding bonds" means bonds issued for the
purpose of refunding bonds first subject to redemption or
maturing after the date of the advance refunding bonds.
(7) "Ordinance" means an ordinance of a city or town or
resolution or other instrument by which the governing body of the
issuing body exercising any power under this chapter takes formal
action and adopts legislative provisions and matters of some
permanency.
(8) "Corporation which has issued bonds" means a corporation
organized under IC 20-47-2 or IC 20-47-3, the laws of any state
of the United States of America or of the United States of
America, including any bank, trust company, or national
association serving as a trustee under an indenture providing for
issuance of bonds.
(9) "Local issuing body" means an issuing body that is:
(A) a political subdivision (as defined in IC 36-1-2-13);
(B) a district (as defined in IC 6-1.1-21.2-5); or
(C) a corporation or other entity that:
(i) is not a body corporate and politic established as an
instrumentality of the state; and
(ii) has issued bonds that are payable directly or indirectly
from lease rentals payable by a political subdivision or
district described in clause (A) or (B).
(10) "Special benefit taxes" means a special tax levied and
collected on an ad valorem basis on property for the purpose of
financing local public improvements that:
(A) are not political or governmental in nature; and
(B) are of special benefit to the residents and property of the
area.
(11) "Tax increment revenues" means an allocation of:
(A) ad valorem property taxes;
(B) state or local adjusted gross income taxes; or
(C) state or local gross retail and use taxes;
to a redevelopment district that is based on an increase in the
assessed value, wages, sales, or other economic activity occurring
in a designated area. The term includes allocations described in
IC 5-28-26-9, IC 6-1.1-21.2-10, IC 36-7-26-10, IC 36-7-27-8, IC 36-7-31-6, and IC 36-7-31.3-4.
(12) "Redevelopment district" refers to the following:
(A) An airport development zone under IC 8-22-3.5.
(B) A redevelopment district established under:
(i) IC 36-7-14; or
(ii) IC 36-7-15.1.
(C) A special taxing district described in:
(i) IC 36-7-14.5-12.5(d); or
(ii) IC 36-7-30-3(b).
(D) Another public entity to which tax increment revenues are
allocated.
(13) Words used in this chapter importing singular or plural
number may be construed so that one (1) number includes both.
Formerly: Acts 1973, P.L.28, SEC.1; Acts 1975, P.L.36, SEC.1.
As amended by P.L.2-2006, SEC.8; P.L.146-2008, SEC.23;
P.L.136-2018, SEC.19.