Indiana § 6-9-2-4.7 Issuance of bonds; negotiation and sale; leases

Indiana Statutes

§ 6-9-2-4.7 — Issuance of bonds; negotiation and sale; leases

Indiana § 6-9-2-4.7

Art. 9INNKEEPER'S TAXES; OTHER LOCAL TAXES

Ch. 2Lake County Innkeeper's Tax

This text of Indiana § 6-9-2-4.7 (Issuance of bonds; negotiation and sale; leases) 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 § 6-9-2-4.7 (2026).

Text

7.

(a)The bureau may issue bonds, enter into leases, or incur other obligations to:

(1)pay the costs incurred in the financing, construction, acquisition, and equipping of a visitor center to promote and encourage conventions, trade shows, special events, recreation, and visitors within the county;

(2)reimburse itself or any nonprofit corporation for any money advanced to pay those costs; or

(3)refund bonds issued or other obligations incurred under this chapter.

(b)Bonds issued or obligations incurred under this section:

(1)are payable solely from the money provided in this chapter;

(2)may, in the discretion of the bureau, be sold at a negotiated sale or under IC 5-1-11 and IC 5-3-1; and

(3)must be authorized by a resolution of the bureau.

(c)Leases entered into under this sectio

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

7. (a) The bureau may issue bonds, enter into
leases, or incur other obligations to:
(1) pay the costs incurred in the financing, construction,
acquisition, and equipping of a visitor center to promote and
encourage conventions, trade shows, special events, recreation,
and visitors within the county;
(2) reimburse itself or any nonprofit corporation for any money
advanced to pay those costs; or
(3) refund bonds issued or other obligations incurred under this
chapter.
(b) Bonds issued or obligations incurred under this section:
(1) are payable solely from the money provided in this chapter;
(2) may, in the discretion of the bureau, be sold at a negotiated
sale or under IC 5-1-11 and IC 5-3-1; and
(3) must be authorized by a resolution of the bureau.
(c) Leases entered into under this section:
(1) may be for a term not to exceed fifty (50) years;
(2) may provide for payments from revenues under this chapter,
any other revenues available to the bureau, or any combination of
these sources;
(3) may provide that payments by the bureau to the lessor are
required only to the extent and only for the time that the lessor is
able to provide the leased facilities in accordance with the lease;
(4) must be based upon the value of the facilities leased; and
(5) may not create a debt of the county for purposes of the
Constitution of the State of Indiana.
(d) A lease may be entered into by the bureau only after a public
hearing:
(1) for which notice has been given in accordance with IC 5-3-1;
and
(2) at which all interested parties are provided the opportunity to
be heard.
(e) After the public hearing, the bureau may approve the execution
of the lease only if the bureau finds that the services to be provided
throughout the life of the lease will serve the public purposes for which
the bureau was created and that the execution of the lease is in the best
interests of the residents of the county.
(f) Upon execution of a lease under this section, the bureau shall
publish notice of the execution of the lease in accordance with IC 5-3-1.
(g) An action to contest the validity of bonds issued or leases
entered into under this section must be brought within thirty (30) days
after the adoption of a bond resolution or notice of the execution and
approval of the lease, as the case may be.