Ind. Code ch. 13-21-11

in effect

Ind. Code § 13-21-11-1 Anticipation notes

Sec. 1. A district: (1) pending receipt of a grant; or (2) in anticipation of the issuance of bonds under this article; may borrow money from any person and evidence the debt by a note or notes executed by the chairperson of the board and the controller of the district and containing the terms and provisions prescribed by the board. [Pre-1996 Recodification Citation: 13-9.5-9-7(a).] As added by P.L.1-1996, SEC.11.

Ind. Code § 13-21-11-2 Sale of notes

Sec. 2. An issuance of a note or notes or evidence of indebtedness under this chapter or IC 13-9.5-9-7 (before its repeal) may be sold at a public or private negotiated sale. [Pre-1996 Recodification Citation: 13-9.5-9-7(b).] As added by P.L.1-1996, SEC.11.

Ind. Code § 13-21-11-3 Term

Sec. 3. A note or notes issued or renewed under this chapter must: (1) mature not more than five (5) years from the date of issuance of the original note; and (2) pledge for the payment of the principal and interest the proceeds of the grant or bonds. [Pre-1996 Recodification Citation: 13-9.5-9-7(c).] As added by P.L.1-1996, SEC.11.

Ind. Code § 13-21-11-4 Application of proceeds

Sec. 4. The board shall apply the proceeds of a note issued under this chapter or IC 13-9.5-9-7 (before its repeal) to the cost of the facility for which the grant is to be made or bonds issued, although a purchaser of any obligations is not liable for the proper application of the proceeds. [Pre-1996 Recodification Citation: 13-9.5-9-7(d).] As added by P.L.1-1996, SEC.11.

Ind. Code § 13-21-11-5 Board approval

Sec. 5. Notes issued under this chapter must be approved by a resolution of the board. [Pre-1996 Recodification Citation: 13-9.5-9-7(e).] As added by P.L.1-1996, SEC.11.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/13Fetched: 10/17/2026