Indiana § 5-1.3-6-10 Exemption from taxation

Indiana Statutes

§ 5-1.3-6-10 — Exemption from taxation

Indiana § 5-1.3-6-10

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.3LEASE FINANCING FOR RAIL PROJECTS FOR

Ch. 6Bonds and Notes

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Bluebook

Ind. Code § 5-1.3-6-10 (2026).

Text

(a)All bonds or notes issued under this article by the IFA are issued by a body corporate and politic of this state, but not a state agency, and for an essential public and governmental purpose. The bonds and notes, the interest on the bonds and notes, the proceeds received by an owner from the sale of the bonds or notes to the extent of the owner's cost of acquisition, proceeds received upon redemption for maturity, proceeds received at maturity, and the receipt of the interest and proceeds are exempt from taxation for all purposes except the financial institutions tax imposed under IC 6-5.5.

(b)All bonds or notes issued under this article by the NWIRDA are issued by a body corporate and politic. The bonds and notes, the interest on the bonds and notes, the proceeds received by an owner

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(a) All bonds or notes issued under this
article by the IFA are issued by a body corporate and politic of this
state, but not a state agency, and for an essential public and
governmental purpose. The bonds and notes, the interest on the bonds
and notes, the proceeds received by an owner from the sale of the
bonds or notes to the extent of the owner's cost of acquisition, proceeds
received upon redemption for maturity, proceeds received at maturity,
and the receipt of the interest and proceeds are exempt from taxation
for all purposes except the financial institutions tax imposed under IC 6-5.5.
(b) All bonds or notes issued under this article by the NWIRDA are
issued by a body corporate and politic. The bonds and notes, the
interest on the bonds and notes, the proceeds received by an owner
from the sale of the bonds or notes to the extent of the owner's cost of
acquisition, proceeds received upon redemption for maturity, proceeds
received at maturity, and the receipt of the interest and proceeds are
exempt from taxation for all purposes except the financial institutions
tax imposed under IC 6-5.5.