§ 5-1.2-2-12 — "Cost"

Indiana § 5-1.2-2-12

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.2: INDIANA FINANCE AUTHORITY
• Ch. 2: Definitions

Text

"Cost" includes the following:
(1) As applied to financing a health facility and health facility
property under IC 5-1.2-7, the following:
(A) The cost and the incidental and related costs of the
acquisition, repair, restoration, reconditioning, refinancing, or
installation of health facility property.
(B) The cost of any property interest in health facility property,
including an option to purchase a leasehold interest.
(C) The cost of constructing health facility property, or an
addition to health facility property, acquiring health facility
property, or remodeling health facility property.
(D) The cost of architectural, engineering, legal, trustee,
underwriting, and related services; the cost of the preparation
of plans, specifications, studies, surveys, and estimates of cost
and of revenue; and all other expenses necessary or incident to
planning, providing, or determining the need for or the
feasibility and practicability of health facility property.
(E) The cost of financing charges, including premiums or
prepayment penalties and interest accrued during the
construction of health facility property or before the acquisition
and installation or refinancing of the health facility property for
up to two (2) years after the construction, acquisition, and
installation or refinancing, and startup costs related to health
facility property for up to two (2) years after such construction,
acquisition, and installation or refinancing.
(F) The costs paid or incurred in connection with the financing
of health facility property, including:
(i) out-of-pocket expenses;
(ii) the cost of any policy of insurance;
(iii) the cost of printing, engraving, and reproduction
services; and
(iv) the cost of the initial or acceptance fee of any trustee or
paying agent.
(G) The costs of the authority, incurred in connection with
providing health facility property, including reasonable sums to
reimburse the authority for time spent by its agents or
employees in providing and financing health facility property.
(H) The cost paid or incurred for the administration of any
program for the purchase or lease of or the making of loans for
health facility property, by the authority, and any program for
the sale or lease of or making of loans for health facility
property to any participating provider.
(2) As applied to a park or park project under IC 5-1.2-6, the
following:
(A) The cost of construction, renovation, or improvement.
(B) The cost of acquisition of all land, rights in land,
rights-of-way, property, rights, easements, and interests,
including land under water and riparian rights acquired by the
commission for construction.
(C) The cost of demolishing or removing any buildings or
structures on land acquired, including the cost of acquiring any
land to which buildings or structures may be moved.
(D) The cost of relocating public roads, railroads, and public
utility facilities, including the cost of land or easements.
(E) The cost of all machinery and equipment, financing
charges, and interest before and during construction.
(F) The cost of engineering and legal expenses, plans,
specifications, surveys, estimates of use, and revenues.
(G) Other expenses necessary or incident to determining the
feasibility or practicability of financing and constructing any
project.
(H) Administrative expense.
(I) Other expenses that are necessary or incident to the
construction of the project, the financing of construction, and
the placing of the project in operation, including an initial bond
service reserve.
(3) As applied to an educational facility project under IC 5-1.2-8,
all costs necessary or incident to the acquisition, construction, or
funding of an educational facility project under that chapter,
including the costs of refunding or refinancing outstanding
indebtedness incurred for the financing of the educational facility
project, reserves for principal and interest, engineering, legal,
architectural, and all other necessary and incidental expenses,
together with interest on bonds issued to finance the educational
facility project to a date six (6) months after the estimated date of
completion.

Legislative History

As added by P.L.189-2018, SEC.25.