§ 8-25-5-3 — Bond issues; purposes; notice and hearing

Indiana § 8-25-5-3

• Jurisdiction: Indiana
• Art. 25: CENTRAL INDIANA PUBLIC
• Ch. 5: Bonding for Central Indiana Public Transportation

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 this article, including:
(1) the payment of costs of the public transportation 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.

Legislative History

As added by P.L.153-2014, SEC.17.