§ 8-15.5-5-4 — Financing of obligations by operator; no state or local debt or pledge

Indiana § 8-15.5-5-4

• Jurisdiction: Indiana
• Art. 15.5: PUBLIC-PRIVATE AGREEMENTS FOR TOLL
• Ch. 5: Terms and Conditions of Public-Private Agreements

Text

(a) The operator may finance its obligations
with respect to the project and the public-private agreement in the
amounts and upon the terms and conditions determined by the operator.
(b) The operator may:
(1) issue debt, equity, or other securities or obligations;
(2) enter into sale and leaseback transactions; and
(3) secure any financing with a pledge of, security interest in, or
lien on any user fees charged and collected for the use of a toll
road project or a facility project and any property interest of the
operator in a toll road project or a facility project.
However, any bonds, debt, other securities, or other financing issued
for the purposes of this article shall not be considered to constitute a
debt of the state or any political subdivision of the state or a pledge of
the faith and credit of the state or any political subdivision.
(c) The operator may deposit any user fees charged and collected for
the use of a toll road project or a facility project in a separate account
held by a trustee or escrow agent for the benefit of the secured parties
of the operator.

Legislative History

As added by P.L.47-2006, SEC.39. Amended by P.L.205-2013, SEC.152; P.L.213-2015, SEC.112.