Indiana § 5-1.3-6-8 Declaration concerning liability; sources or repayment

Indiana Statutes

§ 5-1.3-6-8 — Declaration concerning liability; sources or repayment

Indiana § 5-1.3-6-8

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.3LEASE FINANCING FOR RAIL PROJECTS FOR

Ch. 6Bonds and Notes

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Bluebook

Ind. Code § 5-1.3-6-8 (2026).

Text

The bonds or notes:

(1)constitute the corporate obligations of the IFA or the NWIRDA;

(2)do not constitute an indebtedness of the state within the meaning or application of any constitutional provision, prohibition, or limitation; and

(3)are payable solely as to both principal and interest from:

(A)the revenues from a lease to the NWIRDA, if any;

(B)other available revenues, if any;

(C)proceeds of bonds or notes, if any; or

(D)investment earnings on proceeds of bonds or notes.

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The bonds or notes:
(1) constitute the corporate obligations of the IFA or the
NWIRDA;
(2) do not constitute an indebtedness of the state within the
meaning or application of any constitutional provision,
prohibition, or limitation; and
(3) are payable solely as to both principal and interest from:
(A) the revenues from a lease to the NWIRDA, if any;
(B) other available revenues, if any;
(C) proceeds of bonds or notes, if any; or
(D) investment earnings on proceeds of bonds or notes.