CHAPTER 8. FINANCING: REVENUE BONDS

IC 13-21-8
    Chapter 8. Financing: Revenue Bonds

IC 13-21-8-1
Borrowing money and issuing revenue bonds
    Sec. 1. A board may finance the cost of facilities by borrowingmoney and issuing revenue bonds under this chapter.
As added by P.L.1-1996, SEC.11.

IC 13-21-8-2
Authorization by board of resolution
    Sec. 2. The issuance of revenue bonds must be authorized by aresolution of the board.
As added by P.L.1-1996, SEC.11.

IC 13-21-8-3
Revenue bonds; definition; contents
    Sec. 3. (a) The revenue bonds:
        (1) are special obligations of the district;
        (2) are payable solely from and secured by a lien upon therevenues of all or part of the facilities whether or not thefacilities are being financed with revenue bonds under thischapter or IC 13-9.5-9-4 (before its repeal), as shall be morefully described in the resolution authorizing the issuance of therevenue bonds; and
        (3) including interest, are not:
            (A) a debt of the board, the district, or the units thatcomprise the district; or
            (B) a charge, a lien, or an encumbrance, legal or equitable,upon:
                (i) the property of the board;
                (ii) the property of the district; or
                (iii) the revenues of the board or district other than therevenues of the facilities that have been pledged to thepayment of the revenue bonds.
    (b) Each revenue bond must recite in substance that:
        (1) the revenue bond, including interest, is payable solely fromthe revenues pledged to the bond's payment; and
        (2) neither the board or the district is under any obligation topay the bond, except from those revenues.
As added by P.L.1-1996, SEC.11.

IC 13-21-8-4
Security of bonds
    Sec. 4. (a) The resolution may pledge and assign for the securityof the revenue bonds all or part of the revenues or net revenues of thefacilities.
    (b) To adequately secure the payment of the revenue bonds andthe interest on the bonds, the district and the district's officers,agents, and employees shall provide for the covenants and do other

acts and things that:
        (1) are necessary, convenient, or desirable to secure the revenuebonds; or
        (2) may tend to make the revenue bonds more marketable.
As added by P.L.1-1996, SEC.11.