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8-25-5-3. Bond issues; purposes; notice and hearing

IN Code § 8-25-5-3 (2019) (N/A)
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Sec. 3. (a) Upon request of the county executive, the county fiscal body may borrow money and issue bonds in the name of the county in principal amounts and maturities as the fiscal body determines necessary to provide sufficient funds for the purposes specified in this article, including:

(1) the payment of costs of the public transportation project for which bonds are authorized, costs of issuance, or related costs of financing;

(2) the payment of interest on the bonds;

(3) the establishment of reserves to secure the bonds; and

(4) all other expenditures of the county incident to, necessary, and convenient to carry out this chapter.

(b) Before bonds may be issued under this chapter, the county fiscal body shall give notice of a public hearing to disclose the purpose for which the bond issue is proposed, the amount of the proposed issue, and other pertinent data. The county fiscal body shall publish in accordance with IC 5-3-1 a notice of the time, place, and general purpose of the hearing.

As added by P.L.153-2014, SEC.17.

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8-25-5-2. "Bonds"
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8-25-5-4. Ordinance authorizing bonds; method of sale; price