§ 8-10-4-1 — "Self-liquidating or nonrecourse project"

Indiana § 8-10-4-1

• Jurisdiction: Indiana
• Art. 10: PORTS
• Ch. 4: Ports of Indiana─Jurisdiction and Bonding Powers

Text

(a) As used in this chapter, "self-liquidating or
nonrecourse project" means:
(1) a project for which a lease or leases have been executed
providing for payment in an amount the ports of Indiana
determines to be sufficient to pay:
(A) the interest and principal of the bonds to be issued to
finance the cost of the project; and
(B) all costs of maintenance, repair, and insurance of the
project; or
(2) a project that is structured in such a manner that the ports of
Indiana determines there is no recourse against the state or the
ports of Indiana.
(b) Other words and terms used in this chapter shall have the same
meaning as in IC 8-10-1-2 and the other provisions of this article,
unless otherwise specifically provided.
Formerly: Acts 1969, c.292, s.1. As amended by P.L.66-1984,
SEC.18; P.L.224-2003, SEC.226 and P.L.271-2003, SEC.26;
P.L.232-2005, SEC.8; P.L.98-2008, SEC.45.