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5-1.2-5-6. Authority may issue and sell bonds

IN Code § 5-1.2-5-6 (2019) (N/A)
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Sec. 6. (a) For the purpose of providing money to carry out the provisions of this chapter with respect to:

(1) the construction and equipment of a state facility;

(2) acquiring or providing a site or sites; or

(3) the refunding of any bonds or payment of any loan contract of the authority;

the authority may, by resolution, issue and sell interest-bearing revenue bonds of the authority.

(b) The proceeds of the revenue bonds are appropriated for and may be used for the purpose for which the bonds may be issued under this chapter. The proceeds shall be deposited and disbursed in accordance with any provisions and restrictions that the authority may provide in:

(1) the resolution or trust indenture authorizing:

(A) the issuance of the bonds in the first instance; or

(B) the issuance of any refunding bonds; or

(2) a trust indenture authorized and approved by resolution of the authority.

As added by P.L.189-2018, SEC.25.

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