Indiana § 8-9.5-7-15 Loans; warrants; advancements from within district

Indiana Statutes

§ 8-9.5-7-15 — Loans; warrants; advancements from within district

Indiana § 8-9.5-7-15

Art. 9.5TRANSPORTATION AGENCIES

Ch. 7Automated Transit Districts

This text of Indiana § 8-9.5-7-15 (Loans; warrants; advancements from within district) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 8-9.5-7-15 (2026).

Text

(a)To facilitate the carrying out of the preliminary proceedings and provide funds for the payment of expenses prior to the issuance of bonds, the commission may by resolution authorize the making of loans. Such loans shall be evidenced by callable warrants payable out of the proceeds of bonds, when available. The same shall be sold at public sale pursuant to notice given in accordance with IC 5-3-1. Such warrants shall be sold to the bidder offering to purchase said warrants at the lowest actual interest cost to the district, and shall be executed in the name of the district by the president or vice president of the commission.

(b)Any city, town, township, or county, any part of the territory of which is included within said district, shall have authority to advance funds to the distric

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(a) To facilitate the carrying out of the
preliminary proceedings and provide funds for the payment of expenses
prior to the issuance of bonds, the commission may by resolution
authorize the making of loans. Such loans shall be evidenced by
callable warrants payable out of the proceeds of bonds, when available.
The same shall be sold at public sale pursuant to notice given in
accordance with IC 5-3-1. Such warrants shall be sold to the bidder
offering to purchase said warrants at the lowest actual interest cost to
the district, and shall be executed in the name of the district by the
president or vice president of the commission.
(b) Any city, town, township, or county, any part of the territory of
which is included within said district, shall have authority to advance
funds to the district upon being authorized so to do by its fiscal body.
Such advancements may be made without appropriation, and warrants
evidencing the same shall be issued by the district, bearing such rate of
interest as shall be provided for in the resolution or other action
authorizing the making of such advancements.
As added by Acts 1982, P.L.77, SEC.1.