§ 8-15-2-4 — Definitions

Indiana § 8-15-2-4

• Jurisdiction: Indiana
• Art. 15: TOLL ROADS
• Ch. 2: Operation and Financing of Toll Roads

Text

As used in this chapter, the following words and
terms shall have the following meanings, unless the context shall
indicate another or different meaning or intent:
(1) "Authority" refers to the Indiana finance authority established
by IC 5-1.2-3.
(2) "Capitalized interest" means:
(A) interest costs on toll road revenue bonds before and during
the period of construction of the project for the payment of the
cost of which the bonds were issued, and for one (1) year after
completion of construction; and
(B) interest costs on succeeding lien bonds authorized by this
chapter for the period from the date of such bonds until the date
when the prior outstanding toll road revenue bonds, for which
revenues are pledged, are retired, but not later than ten (10)
years from the date of issue of the succeeding lien bonds.
(3) "Department" refers to the Indiana department of
transportation.
(4) "Project" or "toll road project" means any new or existing
express highway, limited access facility, superhighway, or
motorway constructed under the provisions of this chapter or
accepted as a toll road under IC 8-23-7, including all bridges,
tunnels, overpasses, underpasses, interchanges, entrance plazas,
approaches, tollhouses, service stations, and administration,
storage, and other buildings and facilities which the authority may
deem necessary or desirable for the operation of the project,
together with all property, rights, easements, and interests which
may be acquired by the authority for the construction or the
operation of the project. "Project" or "toll road project" includes
any subsequent improvement, betterment, enlargement, extension,
or reconstruction of an existing project. "Project" or "toll road
project" also includes a project connecting the state of Indiana
with an adjacent state. Each project or toll road project may be
constructed or extended in such sections as the authority may
from time to time determine, and shall be separately designated
by name or number, which designation shall also apply to any
project which is a subsequent improvement, betterment,
enlargement, extension, or reconstruction of such project. The
construction, maintenance, or operation, of transient lodging
facilities on, or adjacent to any such project, or the contracting
therefor, shall not be considered as within the definition of
"project" or "toll road project".
(5) "Cost" as applied to a toll road project or any part of a toll
road project includes:
(A) the cost of construction, including bridges over or under
existing highways and railroads;
(B) the cost of acquisition of all land, rights-of-way, property,
rights, easements, and interests acquired by the authority for
such construction;
(C) the cost of demolishing or removing any buildings or
structures on land so acquired, including the cost of acquiring
any lands to which such buildings or structures may be moved;
(D) the cost of diverting highways, interchange of highways,
and access roads to private property, including the cost of land
or easements therefor;
(E) the cost of all machinery and equipment;
(F) financing charges and capitalized interest;
(G) the cost of funding any reserves to secure the payment of
toll road revenue bonds;
(H) the cost of traffic estimates and of engineering and legal
expenses, plans, specifications, surveys, estimates of cost and
revenues;
(I) other expenses necessary or incident to determining the
feasibility or practicability of constructing any such project;
(J) administrative expense;
(K) such other expenses as may be necessary or incident to the
construction of the project, the financing of such construction,
and the placing of the project in operation; and
(L) the cost of conversion to a toll road project of a state
highway or part of a highway accepted as a toll road project
under IC 8-23-7.
Any obligation or expense incurred by the department for surveys,
borings, preparation of plans and specifications, and other
engineering services in connection with the construction of a
project under this chapter or for the repayment of a grant from a
federal agency which the authority itself would be authorized to
repay under section 5(9) of this chapter in connection with such
project or with the issuance of bonds for the payment of the cost
of such project, shall be regarded as a part of the cost of such
project and shall be reimbursed to the state out of the proceeds of
toll road revenue bonds as authorized.
(6) "Owner" includes all individuals, copartnerships, associations,
limited liability companies, or corporations having any title or
interest in any property, rights, easements, and interests
authorized to be acquired by this chapter.
(7) "Revenues" means all tolls, rentals, gifts, grants, money, and
all other funds and property coming into the possession or under
the control of the authority by virtue of the terms and provisions
of this chapter, except the proceeds from the sale of bonds issued
under the provisions of this chapter and earnings thereon.
(8) "Public roads" includes all public highways, roads, and streets
in the state, whether maintained by the state, county, city,
township, or other political subdivision.
(9) "Transient lodging facility" means accommodations for
overnight or temporary habitation, including, but not limited to,
hotels, motels, motor courts, lodges, and inns, for persons using
any toll road project.
(10) "Toll road bonds" means all bonds issued under the
provisions of this chapter, including refunding bonds and
succeeding lien bonds.
(11) "State highway" means a public road for which the
department is responsible under IC 8-23-2.
Formerly: Acts 1951, c.281, s.4; Acts 1959, c.285, s.2. As
amended by Acts 1980, P.L.74, SECS.226, 227; Acts 1981, P.L.41,
SEC.52; P.L.109-1983, SEC.6; P.L.386-1987(ss), SEC.8; P.L.68-1988,
SEC.13; P.L.18-1990, SEC.129; P.L.8-1993, SEC.144; P.L.235-2005,
SEC.116; P.L.85-2010, SEC.1; P.L.189-2018, SEC.82.