36-7-23-1. “Authority” Defined
Sec. 1. As used in this chapter, “authority” refers to a multiple jurisdiction infrastructure authority established under this chapter. As added by P.L.346-1989(ss), SEC.7. Amended by P.L.86-1999, SEC.5.
36-7-23-10. Appointed Members of Board of Directors
Sec. 10. (a) A member appointed under section 9 of this chapter must be a resident of the unit whose officials or representatives make the appointment. (b) A member appointed under section 9(1) or 9(2) of this chapter by a unit executive or unit fiscal body must be an elected official of the unit whose […]
36-7-23-11. Terms of Office
Sec. 11. (a) A member of the board appointed under section 9 of this chapter serves a term of four (4) years. (b) The agreement establishing the authority under this chapter must provide: (1) that the terms of the initial members appointed under section 9 of this chapter expire after one (1), two (2), three […]
36-7-23-12. Vacancy on Board of Directors
Sec. 12. The officials responsible for appointing members of the board shall fill a vacancy on the board among the members appointed under section 9 of this chapter by appointment for the unexpired term. As added by P.L.346-1989(ss), SEC.7. Amended by P.L.86-1999, SEC.12.
36-7-23-13. Compensation and Expenses of Board Members
Sec. 13. (a) A member of the board is entitled to reimbursement for traveling expenses and other expenses actually incurred in connection with the member’s duties, as provided in the state travel policies and procedures established by the department of administration and approved by the budget agency. (b) A member of the board is not […]
36-7-23-14. Repealed
As added by P.L.346-1989(ss), SEC.7. Repealed by P.L.86-1999, SEC.21.
36-7-23-15. Officers of Board of Directors
Sec. 15. The members shall elect: (1) a chair; (2) a vice chair; (3) a secretary; and (4) other officers determined to be necessary for the board to function; at the first meeting of the board in January of each year. As added by P.L.346-1989(ss), SEC.7. Amended by P.L.86-1999, SEC.14; P.L.127-2017, SEC.217.
36-7-23-16. Vacancies in Offices of Board of Directors
Sec. 16. The members shall fill a vacancy in an office described by section 15 of this chapter for the unexpired term. As added by P.L.346-1989(ss), SEC.7.
36-7-23-17. Quorum; Proxies
Sec. 17. (a) A majority of the members of the board constitutes a quorum for the transaction of business. The affirmative vote of a majority of the board is necessary for an action to be taken by the board. (b) A member may vote by written proxy delivered in advance to the chair or secretary […]
36-7-23-18. Meetings
Sec. 18. Meetings of the board shall be held at the call of the chair or at the request of at least three (3) members. The board shall meet at least once every three (3) months to attend to the business of the authority. As added by P.L.346-1989(ss), SEC.7. Amended by P.L.127-2017, SEC.219.
36-7-23-19. Powers and Duties
Sec. 19. The board may do the following: (1) Borrow money or otherwise incur indebtedness for any of its purposes, and issue revenue bonds, notes, or other evidences of indebtedness, whether secured or unsecured (other than general obligation bonds), to a person. (2) Purchase, discount, sell, and negotiate notes and other evidences of indebtedness. (3) […]
36-7-23-2. “Board” Defined
Sec. 2. As used in this chapter, “board” refers to the board of directors of the authority. As added by P.L.346-1989(ss), SEC.7.
36-7-23-20. Bylaws, Rules, and Regulations
Sec. 20. The board may adopt bylaws, rules, and regulations without complying with IC 4-22-2. As added by P.L.346-1989(ss), SEC.7.
36-7-23-21. Broad Construction of Board’s Powers
Sec. 21. The board’s powers under this chapter shall be interpreted broadly to effectuate the purposes of this chapter and may not be construed as a limitation of powers. As added by P.L.346-1989(ss), SEC.7.
36-7-23-22. Revenue Bond Resolutions
Sec. 22. The board must adopt a resolution before issuing and selling revenue bonds under this chapter. The amount of the bonds issued under a resolution may not exceed the total, as estimated by the board, of all expenses reasonably incurred in connection with the purpose for which the bonds were issued. As added by […]
36-7-23-23. Amount of Bonds Sold
Sec. 23. In determining the amount of bonds to be issued and sold, the board may include the costs of the following: (1) Acquisition and construction of infrastructure. (2) Financing charges, bond sale discount, reasonable issuance costs, and interest accruing on the bonds before and during the construction period and for a reasonable period of […]
36-7-23-24. Disclosures on Face of Bond
Sec. 24. The bonds must indicate the following on the face of each bond: (1) The denomination of the bond. (2) The maturity date or dates, not exceeding fifty (50) years from the date of issue. (3) The interest rate or rates if fixed rates are used, or the manner in which the interest rate […]
36-7-23-25. Execution, Attestation, and Authentication of Bonds
Sec. 25. The bonds: (1) shall be executed by the manual or facsimile signature of the chair of the board; (2) shall be attested by the manual or facsimile signature of the secretary of the board; (3) shall be imprinted or impressed with the seal of the authority; (4) may be authenticated by a trustee, […]
36-7-23-26. Negotiability of Bonds
Sec. 26. The bonds, when issued, have all the qualities of negotiable instruments under IC 26, subject to their provisions for registration, and are incontestable in the hands of a bona fide purchaser or holder of bonds for value. As added by P.L.346-1989(ss), SEC.7.
36-7-23-27. Sale of Bonds
Sec. 27. The bonds issued under this chapter may be sold by the board at a public or private sale at a time or times determined by the board. As added by P.L.346-1989(ss), SEC.7.