Refunding bonds; fiscal body approval
Ind. Code § 36-7-14.5-13
in effectSec. 13. (a) Bonds issued under IC 36-7-14 may be refunded as provided in this section.
(b) Subject to the prior approval of the fiscal body of the unit under IC 36-7-14-25.2, the commission may:
(1) lease all or a portion of a local public improvement or improvements to the authority, which may be at a nominal lease rental with a lease back to the commission, conditioned upon the authority assuming bonds issued under IC 36-7-14 and issuing its bonds to refund those bonds; and
(2) sell all or a portion of a local public improvement or improvements to the authority for a price sufficient to provide for the refunding of those bonds and lease back the local public improvement or improvements from the authority.
As added by P.L.380-1987(ss), SEC.18. Amended by P.L.149-2014, SEC.25.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/36Fetched: 10/17/2026