16-22-7-36. Security for Bonds; Trust Indenture
Sec. 36. (a) The governing board may secure the bonds by a trust indenture between the authority and a corporate trustee, which may be any trust company or national or state bank in Indiana having trust powers. (b) The trust indenture may do the following: (1) Mortgage all or part of the land or buildings, […]
16-22-7-37. Tax Levy for Lease Rental Payments
Sec. 37. (a) The county fiscal body shall annually levy a tax sufficient to produce funds that, with other funds available, are sufficient to pay the lease rental provided to be paid from taxes. (b) If the lease rental is payable from taxes, net revenues of the hospital of which the leased buildings are a […]
16-22-7-38. Lease Rentals Payable Solely From Hospital Revenues
Sec. 38. (a) A city hospital that enters into a lease under this chapter under which the lease rental is payable solely from the net revenues of the hospital that contains the leased building shall covenant in the lease to establish and maintain rates, fees, and charges sufficient in each year to do the following: […]
16-22-7-39. Exemptions From State Taxation
Sec. 39. The following are exempt from state taxation except the financial institutions tax: (1) All property owned by the authority. (2) All revenues of the authority. (3) All bonds or other securities issued by the authority and the interest on the bonds or other securities, the proceeds received by a holder from the sale […]
16-22-7-24. Notice and Hearing on Objections
Sec. 24. On receipt of the certified petition and information, the department of local government finance shall fix a time and place in the county for a hearing of the matter, which shall be not less than five (5) or more than fifteen (15) days after receipt of the certified petition and information. Notice of […]
16-22-7-40. Audit of Funds; Bond of Officers and Employees
Sec. 40. The state board of accounts may supervise and audit the funds of the authority. Any officer or employee of the authority authorized to receive or disburse funds or negotiable securities of the authority shall execute a bond of a surety or guaranty corporation qualified to do business in Indiana and payable to the […]
16-22-7-25. Time to Contest or Enjoin Lease
Sec. 25. An action to contest the validity of the lease or to enjoin the performance of the terms and conditions of the lease may not be instituted later than thirty (30) days after publication of notice of the execution of the lease or, if an appeal is taken to the department of local government […]
16-22-7-41. Liquidation of Authority
Sec. 41. An authority may be liquidated after redemption of the authority’s securities, payment of the authority’s debts, and termination of the authority’s leases if the governing board files a report with the circuit court, superior court, or probate court showing the facts and stating that liquidation is in the best public interest. If the […]
16-22-7-26. Terms of Lease
Sec. 26. (a) A lease may provide the lessee with an option to renew the lease, with approval of the board of directors of the city hospital, for a like or lesser term. The lease must contain an option for the city hospital to purchase at any time after ten (10) years from the execution […]
16-22-7-42. Remodeling and Additions to Hospital
Sec. 42. (a) The governing board of the hospital may remodel or construct an addition to a hospital building leased by the hospital under this chapter. (b) To provide funds for that purpose, the county may issue general obligation aid bonds or the city hospital or city may appropriate money from the city hospital’s or […]