Indiana § 8-1-11.1-24 Revenue obligations; approval or validation; facsimile signatures; sale;
actions to contest validity; certificates of indebtedness; execution

Indiana Statutes

§ 8-1-11.1-24 — Revenue obligations; approval or validation; facsimile signatures; sale; actions to contest validity; certificates of indebtedness; execution

Indiana § 8-1-11.1-24

Art. 1UTILITIES GENERALLY

Ch. 11.1Department of Public Utilities of Consolidated City

This text of Indiana § 8-1-11.1-24 (Revenue obligations; approval or validation; facsimile signatures; sale; actions to contest validity; certificates of indebtedness; execution) 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 § 8-1-11.1-24 (2026).

Text

(a)All such revenue obligations shall be valid without the necessity of any approval of or ratification by either the commission or the department of local government finance. The board of directors for utilities, upon adopting a resolution authorizing such revenue obligations, shall certify a copy thereof to the city controller of such city who shall thereupon prepare said revenue obligations, and the same shall be issued in the name of the city and shall be executed by the mayor of said city and attested by the city controller and the clerk of the city-county council. Facsimile signatures may be used in executing such revenue obligations, provided that one or more of the signatures on the revenue obligations shall be manually signed, except that all signatures on interest coupons may be

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(a) All such revenue obligations shall be
valid without the necessity of any approval of or ratification by either
the commission or the department of local government finance. The
board of directors for utilities, upon adopting a resolution authorizing
such revenue obligations, shall certify a copy thereof to the city
controller of such city who shall thereupon prepare said revenue
obligations, and the same shall be issued in the name of the city and
shall be executed by the mayor of said city and attested by the city
controller and the clerk of the city-county council. Facsimile signatures
may be used in executing such revenue obligations, provided that one
or more of the signatures on the revenue obligations shall be manually
signed, except that all signatures on interest coupons may be facsimile
signatures.
(b) Certificates of indebtedness issued under section 23 of this
chapter shall be executed solely by the president of the board of
directors without the execution of the mayor. The signature of the
president must be attested by the secretary of the board.
(c) Such revenue obligations shall be sold by the city controller of
said city subject to the requirements of IC 5-1-11; provided, that any
revenue obligations maturing within one (1) year of date of issuance
need not be sold at public sale but may be sold in such manner as the
board of directors for utilities may determine; and, provided further,
that any revenue obligations may be offered for sale and sold to the
United States or to any corporation owned or controlled by the United
States without notice by publication. No suit to question the validity of
any revenue obligations so issued or to prevent their issuance or sale
shall be instituted after the date fixed for the sale of such revenue
obligations and all such revenue obligations from and after such date
shall be incontestable, except for fraud, forgery, or violation of
constitutional provisions.
[Pre-Local Government Recodification Citation:
19-3-24-24.]
As added by Acts 1981, P.L.11, SEC.43. Amended by
P.L.23-1988, SEC.44; P.L.90-2002, SEC.312.