Sec. 1. (a) As used in this chapter, “cost of a project” includes the following: (1) The cost of construction and purchase. (2) The cost of acquisition of all land, rights-of-way, property, rights, easements, and other legal or equitable interests acquired by the commission for construction, including the cost of any relocations incidental to the […]
Sec. 10. Interest paid on bonds issued under this chapter is exempt from taxation for all purposes, except for determining financial institution tax liabilities under IC 6-5.5. [Pre-2008 Recodification Citation: 15-1.5-9-9.] As added by P.L.2-2008, SEC.4. Amended by P.L.79-2017, SEC.64.
Sec. 11. (a) As used in this section, “lessor” has the meaning set forth for “leasing body” in IC 5-1-1-1. The term includes the Indiana bond bank. (b) The commission may enter into a lease of any property that could be financed with the proceeds of bonds issued under this chapter with a lessor for […]
Sec. 2. As used in this chapter, “project” means any of the following concerning property at the fairgrounds: (1) Acquisition. (2) Construction. (3) Repair. (4) Refurbishing. [Pre-2008 Recodification Citation: 15-1.5-9-1.] As added by P.L.2-2008, SEC.4.
Sec. 3. (a) Subject to the approval of the governor, the commission may, by resolution, authorize and issue revenue bonds to: (1) pay all or part of the cost of a project; or (2) refund outstanding revenue bonds. (b) The principal of and the interest on bonds must be payable solely from the revenues specifically […]
Sec. 4. (a) The proceeds of the bonds of each issue must be: (1) used solely for the payment of the cost of the project for which the bonds were issued; and (2) disbursed in the manner and under those restrictions that the commission provides in the resolution authorizing the issuance of the bonds or […]
Sec. 5. (a) Bonds issued under this chapter may be secured by a trust agreement between the commission and a corporate trustee, which may be any trust company or bank having the powers of a trust company in Indiana. (b) A resolution adopted by the commission providing for the issuance of bonds, and any trust […]
Sec. 6. (a) All money received under this chapter must be held and applied solely as provided in this chapter. Until the time the money is needed for use, the money may be invested or kept in depositories designated by the commission in the manner provided by IC 5-13. (b) The resolution authorizing the issuance […]
Sec. 7. (a) A holder of a bond issued under this chapter may, subject to the authorizing resolution or trust agreement: (1) protect and enforce the holder’s rights under the laws of Indiana, the trust agreement, or the resolution authorizing the issuance of the bonds; and (2) enforce and compel the performance of the duties […]
Sec. 8. (a) Bonds issued under this chapter: (1) do not constitute: (A) a debt of the state or of any political subdivision of the state; or (B) a pledge of the faith and credit of the state or of any political subdivision; and (2) are payable solely from the funds pledged for payment of […]
Sec. 9. Bonds issued by the commission under this chapter constitute legal investments for: (1) any private trust funds; and (2) the funds of any banks, trust companies, insurance companies, building and loan associations, credit unions, banks of discount and deposit, savings banks, loan and trust and safe deposit companies, rural loan and savings associations, […]
