16-22-7-29. Lease of Land to Authority by Hospital, Municipality, or County; Option to Purchase; Price
Sec. 29. (a) The city hospital, city, or county desiring to erect buildings on land owned or acquired by the city hospital, city, or county may lease land to the authority for a nominal rental for the same period, including renewal periods, that the lessee proposes to lease the particular land or buildings to be […]
16-22-7-30. Sale of Land to Authority by Hospital, Municipality, or County
Sec. 30. (a) The city hospital, city, or county desiring to have buildings erected on land owned or acquired by the city hospital, city, or county may sell the land to the authority. Before the sale may take place, the legislative body of the city, the governing board of the hospital, or executive of the […]
16-22-7-31. Issuance of Revenue Bonds by Authority
Sec. 31. (a) The governing board may issue revenue bonds of the authority to procure funds for buildings to be built or acquired under this chapter and to repay advances for preliminary expenses. The bonds are payable from the income and revenues of the buildings financed from the proceeds of the bonds. (b) The revenue […]
16-22-7-32. Nature of Revenue Bonds
Sec. 32. The bonds are negotiable instruments under IC 26-1, and legal investments for private trust funds and 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 safe deposit companies, rural loan and savings associations, guaranty loan and savings […]
16-22-7-33. Execution of Bonds
Sec. 33. The bonds shall be executed by signature or facsimile signature of the president of the governing board. The corporate seal of the authority or a facsimile shall be affixed and attested by the secretary. The interest coupons attached to the bonds shall be executed by facsimile signature of the treasurer. [Pre-1993 Recodification Citation: […]
16-22-7-34. Terms of Bond Sale
Sec. 34. The bonds shall be sold by the board at public sale in the manner described under IC 5-1-11-3(c). However, the bonds may not be sold for less than the bonds’ par value. Notice of sale shall be published in the manner required for bonds of a county. Any premium received from the sale […]
16-22-7-35. Disposition of Bond Proceeds
Sec. 35. The proceeds from bonds issued under this chapter, after reimbursement for preliminary expenses as provided in section 14 of this chapter and payment for land, shall be applied to the payment of the costs of the buildings on account of which the bonds are issued, including incidental expenses and interest during construction. Until […]
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: […]