Indiana § 5-1.2-8-18 Bonds; use of proceeds

Indiana Statutes

§ 5-1.2-8-18 — Bonds; use of proceeds

Indiana § 5-1.2-8-18

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.2INDIANA FINANCE AUTHORITY

Ch. 8Educational Facility Financing

This text of Indiana § 5-1.2-8-18 (Bonds; use of proceeds) 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 § 5-1.2-8-18 (2026).

Text

The proceeds of any bonds issued for the purpose of refunding outstanding bonds may, in the discretion of the authority:

(1)be applied to the purchase or retirement at maturity or redemption of the outstanding bonds either on their earliest or any subsequent redemption date or upon the purchase or at the maturity of the outstanding bonds; and

(2)pending the application of the proceeds, be placed in escrow to be applied to the purchase or retirement at maturity or redemption of the outstanding bonds on a date determined by the authority.

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The proceeds of any bonds issued for the
purpose of refunding outstanding bonds may, in the discretion of the
authority:
(1) be applied to the purchase or retirement at maturity or
redemption of the outstanding bonds either on their earliest or any
subsequent redemption date or upon the purchase or at the
maturity of the outstanding bonds; and
(2) pending the application of the proceeds, be placed in escrow
to be applied to the purchase or retirement at maturity or
redemption of the outstanding bonds on a date determined by the
authority.