Ind. Code § 36-7-14.5-13
Refunding bonds; fiscal body approval
Indiana · Indiana Code Title 36 — Local Government · Status: effective
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- Ind. Code § 36-7-14.5-13, Refunding bonds; fiscal body approval, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1685491
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Sec. 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.