§ 8-15.7-8-6 — Powers of authority to finance qualifying project

Indiana § 8-15.7-8-6

• Jurisdiction: Indiana
• Art. 15.7: PUBLIC-PRIVATE PARTNERSHIPS
• Ch. 8: Financial Arrangements

Text

(a) For the purpose of financing a qualifying
project, the authority may enter into agreements, leases, or subleases
with the department or an operator, or both, and do the following:
(1) Issue bonds, debt, or other obligations under IC 5-1.2-4, IC 8-15-2, or IC 8-15.7-9.
(2) Enter into loan agreements or other credit facilities.
(3) Secure any financing with a pledge of, security interest in, or
lien on all or part of a property subject to the agreement, including
all of the party's property interests in the qualifying project.
(4) Subject to review by the budget committee established in IC 4-12-1-3 and approval by the budget director appointed under IC 4-12-1-3:
(A) establish a procedure for the authority or a person acting on
behalf of the authority to certify to the general assembly the
amount needed to pay costs incurred under a public-private
agreement; or
(B) otherwise create a moral obligation of the state to pay all or
part of any costs incurred by the authority under a
public-private agreement.
(b) The department and an operator may transfer any interest in
property that the department or operator has to the authority to secure
the financing.
(c) If items submitted for review under subsection (a)(4) provide for
any tolls, the budget committee shall hold a meeting and conduct a
review of the items not later than ninety (90) days after the date the
items are submitted for review.

Legislative History

As added by P.L.47-2006, SEC.40. Amended by P.L.163-2011, SEC.16; P.L.189-2018, SEC.99.