Indiana Statutes
§ 8-21-12-16 — Loans to the authority
The authority may negotiate terms and borrow money from any source under a loan contract, subject to the following requirements:
(1)The loan contract must be approved by resolution of the
authority.
(2)The loan contract must provide for the repayment of the loan
in not more than forty (40) years.
(3)The loan contract must state that the indebtedness is that of
the authority, is payable solely from revenues of the authority that
are derived from either airport operations or from revenue bonds,
and may not be paid by a tax levied on property located within the
state.
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Legislative History
As added by P.L.28-1991, SEC.2.
Nearby Sections
15
§ 8-1-1-11
Staff of commission§ 8-1-1-12
Repealed§ 8-1-1-13
Repealed§ 8-1-1-14
Annual report§ 8-1-1-15
Implementing rules; duration§ 8-1-1-16
Commission to consider effect of governmental requirements upon
utility's operational expenses§ 8-1-1-4
Repealed§ 8-1-1-4.1
Payment of expenses§ 8-1-1-6
Repealed