Sec. 1. (a) The development board shall establish and administer a development authority revenue fund. (b) The development authority revenue fund consists of the following: (1) Riverboat admissions tax revenue, riverboat wagering tax revenue, or riverboat incentive payments received by a city or county described in IC 36-7.5-2-3(b) and transferred by the county or city […]
Sec. 10. The development authority and an eligible political subdivision may enter into common wall (party wall) agreements or other agreements concerning easements or licenses. These agreements shall be recorded with the recorder of the county in which the project is located. As added by P.L.214-2005, SEC.73.
Sec. 11. (a) An eligible political subdivision may lease for a nominal lease rental, or sell to the development authority, one (1) or more projects or portions of a project or land upon which a project is located or is to be constructed. (b) Any lease of all or a portion of a project by […]
Sec. 12. If an eligible political subdivision exercises its option to purchase leased property, the eligible political subdivision may issue its bonds as authorized by statute. As added by P.L.214-2005, SEC.73.
Sec. 13. (a) All: (1) property owned by the development authority; (2) revenues of the development authority; and (3) bonds issued by the development authority, the interest on the bonds, the proceeds received by a holder from the sale of bonds to the extent of the holder’s cost of acquisition, proceeds received upon redemption before […]
Sec. 14. Bonds issued under this chapter are legal investments for private trust funds and the funds of banks, trust companies, insurance companies, building and loan associates, credit unions, savings banks, private banks, loan and trust and safe deposit companies, rural loan and savings associations, guaranty loan and savings associations, mortgage guaranty companies, small loan […]
Sec. 15. An action to contest the validity of bonds to be issued under this chapter may not be brought after the time limitations set forth in IC 5-1-14-13. As added by P.L.214-2005, SEC.73.
Note: This version of section amended by P.L.248-2017, SEC.8. See also preceding version of this section amended by P.L.229-2017, SEC.40. Sec. 16. (a) This section applies if a political subdivision or city or county described in IC 36-7.5-2-3 or a county participating in a rail project under IC 36-7.5-4.5 fails to make a transfer or […]
Note: This version of section amended by P.L.229-2017, SEC.40. See also following version of this section amended by P.L.248-2017, SEC.8. Sec. 16. (a) This section applies if a political subdivision or city or county described in IC 36-7.5-2-3 fails to make a transfer or a part of a transfer required by section 2 of this […]
Sec. 16.5. (a) This section applies if the development board does the following: (1) Finds that a city or county described in IC 36-7.5-2-3 has, at any time before July 1, 2015, failed to make a transfer or a part of a transfer required by section 2 of this chapter. (2) Finds that the obligation […]
Sec. 17. (a) If there are bonds outstanding that have been issued under this article and are not secured by a lease, or if there are leases in effect under this article, the general assembly also covenants that it will not reduce the amount required to be transferred from the counties and cities to the […]
Sec. 18. Subject to IC 5-1.3, the development authority is the exclusive fiscal officer for and has final approval for financing a transportation project involving a rail project under this article. As added by P.L.248-2017, SEC.9. Amended by P.L.189-2018, SEC.177.
Sec. 19. (a) All bonds, notes, evidences of indebtedness, leases, or other written obligations issued or executed by or in the name of the development authority under this chapter before April 30, 2019, are hereby legalized and declared valid. (b) Any pledge, dedication or designation of revenues securing the bonds, notes, evidences of indebtedness, leases, […]
Sec. 2. (a) Except as provided in subsections (b) and (d), the fiscal officer of each city and county described in IC 36-7.5-2-3(b) shall each transfer three million five hundred thousand dollars ($3,500,000) each year to the development authority for deposit in the development authority revenue fund established under section 1 of this chapter. However, […]
Sec. 2.5. (a) This section applies to a unit that has previously: (1) entered into an interlocal cooperation or other similar agreement; (2) adopted an ordinance or resolution; or (3) taken any other action offering to support and finance: (A) a rail project or rail projects under this chapter; or (B) the double tracking project […]
Sec. 20. (a) Before July 1, 2019, the Lake County auditor shall transfer to the secretary-treasurer of the development authority all amounts held in the commuter rail extension and improvement fund established by an ordinance adopted by the fiscal body of Lake County on June 9, 2015. (b) On or before December 31, 2019, the […]
Sec. 21. (a) If a full funding grant agreement is not entered into between the commuter transportation district and the federal government for the West Lake corridor project, all amounts received by the secretary-treasurer of the development authority under IC 6-3.6-11-5.5, including any interest earned on those amounts, shall be distributed by the secretary-treasurer of […]
Sec. 22. (a) Subject to subsection (b), if, before December 31, 2020, the proper applications for federal funding necessary and desired to complete commuter rail extensions and improvements described in an interlocal agreement entered into by Lake County units to support the extension and improvement of rail services have not been filed, after satisfaction of […]
Sec. 3. (a) The development authority may issue bonds for the purpose of obtaining money to pay the cost of: (1) acquiring real or personal property, including existing capital improvements; (2) acquiring, constructing, improving, reconstructing, or renovating one (1) or more projects; or (3) funding or refunding bonds issued under this chapter or IC 8-5-15, […]
Sec. 4. This chapter contains full and complete authority for the issuance of bonds. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the development board or any other officer, department, agency, or instrumentality of the state or of any political subdivision is required to issue any bonds, except as prescribed in […]
