Indiana § 8-1.5-5-13 District bonds; nature

Indiana Statutes

§ 8-1.5-5-13 — District bonds; nature

Indiana § 8-1.5-5-13

Art. 1.5MUNICIPAL UTILITIES

Ch. 5Department of Storm Water Management

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Bluebook

Ind. Code § 8-1.5-5-13 (2026).

Text

(a)The bonds of the district are:

(1)a valid claim of the holders only against the bond and interest redemption account and the revenues of the storm water system; and

(2)exempt from taxation in Indiana as provided by IC 6-8-5.

(b)The bonds may be issued either as registered bonds or as coupon bonds payable to the bearer.

(c)Except as provided in this chapter or IC 5-1-5, bonds shall be sold in accordance with IC 5-1-11. The registration of bonds does not affect negotiability.

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(a) The bonds of the district are:
(1) a valid claim of the holders only against the bond and interest
redemption account and the revenues of the storm water system;
and
(2) exempt from taxation in Indiana as provided by IC 6-8-5.
(b) The bonds may be issued either as registered bonds or as coupon
bonds payable to the bearer.
(c) Except as provided in this chapter or IC 5-1-5, bonds shall be
sold in accordance with IC 5-1-11. The registration of bonds does not
affect negotiability.