Indiana § 8-14.5-7-9 Indebtedness limited to authority

Indiana Statutes

§ 8-14.5-7-9 — Indebtedness limited to authority

Indiana § 8-14.5-7-9

Art. 14.5LEASE FINANCING FOR TRANSPORTATION

Ch. 7Grant Anticipation Revenue Bonds and Notes

This text of Indiana § 8-14.5-7-9 (Indebtedness limited to authority) 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 § 8-14.5-7-9 (2026).

Text

Grant anticipation revenue bonds or notes:

(1)constitute the corporate obligations of the authority;

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

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

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

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

(C)investment earnings on proceeds of bonds or notes, if any.

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