Indiana § 5-1.2-4-4 Additional authority powers; capital improvements; northwest Indiana
regional development authority; motorsports investment district; local
innovation development district

Indiana Statutes

§ 5-1.2-4-4 — Additional authority powers; capital improvements; northwest Indiana regional development authority; motorsports investment district; local innovation development district

Indiana § 5-1.2-4-4

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.2INDIANA FINANCE AUTHORITY

Ch. 4General Powers and Duties

This text of Indiana § 5-1.2-4-4 (Additional authority powers; capital improvements; northwest Indiana regional development authority; motorsports investment district; local innovation development district) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-1.2-4-4 (2026).

Text

(a)In addition to the powers listed in section 1 of this chapter, the authority may:

(1)enter into leases and issue bonds under terms and conditions determined by the authority and use the proceeds of the bonds to:

(A)acquire obligations issued by any entity authorized to acquire, finance, construct, or lease capital improvements under IC 5-1-17;

(B)acquire any obligations issued by the northwest Indiana regional development authority established by IC 36-7.5-2-1; or

(C)carry out the purposes of IC 5-1-17.5 within a motorsports investment district;

(2)at the request of the Indiana economic development corporation established by IC 5-28-3-1, and subject to subsections

(b), (c), and (d), enter into leases and issue bonds under terms and conditions determined by the authority payable so

Free access — add to your briefcase to read the full text and ask questions with AI

(a) In addition to the powers listed in section 1
of this chapter, the authority may:
(1) enter into leases and issue bonds under terms and conditions
determined by the authority and use the proceeds of the bonds to:
(A) acquire obligations issued by any entity authorized to
acquire, finance, construct, or lease capital improvements under
IC 5-1-17;
(B) acquire any obligations issued by the northwest Indiana
regional development authority established by IC 36-7.5-2-1; or
(C) carry out the purposes of IC 5-1-17.5 within a motorsports
investment district;
(2) at the request of the Indiana economic development
corporation established by IC 5-28-3-1, and subject to subsections
(b), (c), and (d), enter into leases and issue bonds under terms and
conditions determined by the authority payable solely from:
(A) revenues that are deposited in a local innovation
development district fund established under IC 36-7-32.5-19;
(B) revenues generated from a project under IC 36-7-32.5-19;
and
(C) appropriations from the general assembly; and
(3) perform any other functions determined by the authority to be
necessary or appropriate to carry out the purposes of this section.
(b) The proceeds of bonds issued under subsection (a)(2) may be
used to pay the costs of projects:
(1) described in IC 36-7-32.5-19; and
(2) located within or directly serving the innovation development
district in which the revenue was generated.
(c) Before the authority enters into leases or issues bonds under
subsection (a)(2), the proposed lease or issuance of bonds must be
reviewed by the budget committee.
(d) The authority may not issue more than one billion dollars
($1,000,000,000) of bonds under subsection (a)(2).