Sec. 1. A district may obtain money for the payment of the costs of the works or an improvement, enlargement, or extension of the works by the issuance of revenue bonds of the district. The principal and interest of the revenue bonds must be paid solely from the net revenues of the works. [Pre-1996 Recodification […]
Sec. 10. The fund to finance the construction of any of the self-liquidating works authorized by this article may be obtained from a federal or state agency. [Pre-1996 Recodification Citation: 13-3-2-17(f) part.] As added by P.L.1-1996, SEC.16.
Sec. 11. An action to contest the validity of bonds issued under this article or IC 13-3-2 (before its repeal) must be brought not later than ten (10) days after the advertised sale date of the bonds. [Pre-1996 Recodification Citation: 13-3-2-17(f) part.] As added by P.L.1-1996, SEC.16.
Sec. 12. Subject to an ordinance or trust indenture pertaining to outstanding bonds, additional bonds payable from the revenues of the works may be authorized and issued in accordance with this article for the purpose of improving, enlarging, or extending works acquired or constructed under this article or IC 13-3-2 (before its repeal). [Pre-1996 Recodification […]
Sec. 13. The board may secure the revenue bonds by a trust indenture by and between the district and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or outside Indiana. However, a trust indenture may not convey or mortgage all or any part of […]
Sec. 14. The ordinance authorizing the revenue bonds and fixing the details of the revenue bonds may provide that the trust indenture contain reasonable and lawful provisions for protecting and enforcing the rights and remedies of the bondholders, including covenants setting forth the duties of the district and the board in relation to the following: […]
Sec. 15. The ordinance may also provide that the works shall be contracted for, constructed, and paid for under the supervision and approval of consulting engineers employed or designated by the board and satisfactory to the original bond purchasers, successors, assigns, or nominees. The original bond purchasers, successors, assigns, or nominees may be given the […]
Sec. 16. The trust indenture may set forth the rights and remedies of the bondholders or trustee, restricting the individual right of action of bondholders as is customary in trust indentures securing bonds and debentures of corporations. [Pre-1996 Recodification Citation: 13-3-2-19(d) part.] As added by P.L.1-1996, SEC.16.
Sec. 17. Unless this article otherwise provides, the board may provide by ordinance or in the trust indenture for the payment of: (1) the proceeds of the sale of the bonds; and (2) the revenues of the works; to the officer, board, or depository that the board determines for the custody of the money and […]
Sec. 18. (a) At or before the time of issuance of the revenue bonds, the board shall by ordinance create a sinking fund for the payment of the following: (1) The bonds. (2) The interest on the bonds. (3) The charges of banks or trust companies for making payment of the bonds or interest. (b) […]
Sec. 19. (a) The holder of revenue bonds or attached coupons and the trustee, if any, except to the extent the rights given may be restricted by the ordinance authorizing issuance of the bonds or by the trust indenture, may, by civil action, protect and enforce rights granted: (1) by this article or IC 13-3-2 […]
Sec. 2. A district obtaining a loan from the federal government or an agency of the federal government may issue obligations under this article to the federal government or agency to evidence the indebtedness without advertising for or receiving bids. The obligations: (1) are payable solely from the net revenues of the works; and (2) […]
Sec. 3. Revenue bonds may: (1) bear interest, at a rate or rates not exceeding the maximum determined by the board, that is payable or accretes as determined by the board; (2) mature at a time or times to be determined by ordinance; and (3) be made redeemable before maturity at the option of the […]
Sec. 4. The principal and interest of revenue bonds may be made payable in any lawful medium. The ordinance must do the following: (1) Determine the form of the bonds, including the interest coupons, if any, to be attached. (2) Fix the denomination or denominations of the bonds and the place or places of payment […]
Sec. 5. (a) The revenue bonds must contain a statement on the face of the bonds that the district is not obligated to pay the bonds or the interest on the bonds except from the special fund provided from the net revenues of the works. (b) All bonds are negotiable instruments. (c) The bonds and […]
Sec. 6. The: (1) president of the board shall execute; and (2) secretary of the board shall attest; the bonds and coupons. The coupons must bear facsimile signature. [Pre-1996 Recodification Citation: 13-3-2-17(c) part.] As added by P.L.1-1996, SEC.16.
Sec. 7. (a) Subject to subsection (b), the treasurer of the district shall sell the revenue bonds in a manner and at a price that is determined to be in the best interests of the district. (b) If the bonds are sold at public sale, the bonds shall be sold in accordance with IC 5-1-11 […]
Sec. 8. (a) A surplus of revenue bond proceeds over the cost of the works shall be paid into the sinking fund provided by this article. (b) If the proceeds of the bonds, by error of calculation or otherwise, are less than the cost of the works, additional bonds may in the same manner be […]
Sec. 9. Before the preparation of the definite revenue bonds, temporary revenue bonds under the same restrictions may be issued with or without coupons, exchangeable for definite revenue bonds upon the issuance of the latter. [Pre-1996 Recodification Citation: 13-3-2-17(f) part.] As added by P.L.1-1996, SEC.16.
