Indiana § 8-15.5-11-4 Allocations to accounts and other funds

Indiana Statutes

§ 8-15.5-11-4 — Allocations to accounts and other funds

Indiana § 8-15.5-11-4

Art. 15.5PUBLIC-PRIVATE AGREEMENTS FOR TOLL

Ch. 11Toll Road Fund

This text of Indiana § 8-15.5-11-4 (Allocations to accounts and other funds) 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 § 8-15.5-11-4 (2026).

Text

(a)Before any allocations are made from the fund under this chapter, the authority shall determine:

(1)the extent to which outstanding bonds issued by the authority under IC 8-14.5-6 or IC 8-15-2 should be repaid, defeased, or otherwise retired;

(2)the total amount necessary to repay, defease, or otherwise retire the bonds selected by the authority for repayment, defeasance, or retirement; and

(3)the total amount necessary to pay the amounts owed by the authority related to the execution and performance of a public-private agreement under this article, including establishing reserves, plus the amount necessary to establish an escrow account to implement a written agreement entered into under IC 8-15.5-7-6 to fund reductions in, or refunds of, user fees imposed on Class 2 vehicles. The

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(a) Before any allocations are made from the
fund under this chapter, the authority shall determine:
(1) the extent to which outstanding bonds issued by the authority
under IC 8-14.5-6 or IC 8-15-2 should be repaid, defeased, or
otherwise retired;
(2) the total amount necessary to repay, defease, or otherwise
retire the bonds selected by the authority for repayment,
defeasance, or retirement; and
(3) the total amount necessary to pay the amounts owed by the
authority related to the execution and performance of a
public-private agreement under this article, including establishing
reserves, plus the amount necessary to establish an escrow
account to implement a written agreement entered into under IC 8-15.5-7-6 to fund reductions in, or refunds of, user fees imposed
on Class 2 vehicles.
The authority shall make a separate determination of the amount
described in subdivision (3) for each public-private agreement. The
amount described in subdivision (3) is payable solely from money
received by the authority under the public-private agreement for which
the amounts owed were incurred, and are not payable from lease
payments received under IC 8-9.5 or IC 8-14.5.
(b) Before making any allocations from the fund under subsection
(c) or (d), the authority shall allocate the amount determined under
subsection (a)(2) to the bond retirement account. Money in this account
may be used only for the purpose described in section 3(a)(1) of this
chapter.
(c) After making the allocation required by subsection (b) and
before making the allocations required by subsection (d), the authority
shall allocate the amount determined under subsection (a)(3) to the
administration account. Money in this account may be used only for the
purpose described in section 3(a)(2) of this chapter.
(d) After making the allocations required by subsections (b) and (c),
the remaining money received during each state fiscal year under a
public-private agreement under this article shall be allocated to the
eligible project account. Money in this account may be used only for
the purposes described in section 3(a)(3) of this chapter. Within thirty
(30) days after a public-private agreement concerning the Indiana Toll
Road has been executed and the closing for each financing transaction
required to provide funding to carry out the agreement has been
conducted, the authority shall transfer the money in the eligible project
account to the major moves construction fund. In addition, any amounts
transferred to the fund under section 3(i) of this chapter after the date
described in this subsection shall be transferred to the major moves
construction fund.