§ 8-18-22-3 — Bond issues; purposes; notice and hearing; multiple projects funded by single issue

Indiana § 8-18-22-3

• Jurisdiction: Indiana
• Art. 18: COUNTY ROADS─FINANCING AND BONDING
• Ch. 22: County Road and Bridge Bonding

Text

(a) Upon request of the county executive, the
county fiscal body may borrow money and issue bonds in the name of
the county in principal amounts and maturities as the fiscal body
determines necessary to provide sufficient funds for the purposes
specified in IC 8-16 through IC 8-20, including:
(1) the payment of costs of the project for which bonds are
authorized, costs of issuance, or related costs of financing;
(2) the payment of interest on the bonds;
(3) the establishment of reserves to secure the bonds; and
(4) all other expenditures of the county incident to, necessary, and
convenient to carry out this chapter.
(b) Before bonds may be issued under this chapter, the county fiscal
body shall give notice of a public hearing to disclose the purpose for
which the bond issue is proposed, the amount of the proposed issue,
and other pertinent data. The county fiscal body shall publish in
accordance with IC 5-3-1 a notice of the time, place, and general
purpose of the hearing.
(c) The costs of more than one (1) project may be included in one
(1) issue of bonds.

Legislative History

As added by P.L.113-1989, SEC.9.