Indiana § 8-4-7-9 Financing of operation; loans and bond issues

Indiana Statutes

§ 8-4-7-9 — Financing of operation; loans and bond issues

Indiana·Art. 4 ORGANIZATION AND OPERATION OF·Ch. 7 Incorporation of Union Railway Companies

Any such union railway company shall have
power to borrow money for the purpose of raising means to carry out
the powers conferred by this chapter, and may issue coupon or other
bonds payable to bearer, bearing interest not exceeding the highest
contract rate of interest which may be allowable in this state at the
time, such interest to be payable semiannually, and such company may
also mortgage its franchises, property, and revenues of every kind then
owned or subsequently to be acquired to secure the payment of such
loan and interest or of such bonds and interest.
Formerly: Acts 1885, c.20, s.9. As amended by P.L.62-1984,
SEC.51.

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Any such union railway company shall have
power to borrow money for the purpose of raising means to carry out
the powers conferred by this chapter, and may issue coupon or other
bonds payable to bearer, bearing interest not exceeding the highest
contract rate of interest which may be allowable in this state at the
time, such interest to be payable semiannually, and such company may
also mortgage its franchises, property, and revenues of every kind then
owned or subsequently to be acquired to secure the payment of such
loan and interest or of such bonds and interest.
Formerly: Acts 1885, c.20, s.9. As amended by P.L.62-1984,
SEC.51.

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