CHAPTER 9. FINANCING: WASTE MANAGEMENT DEVELOPMENT BONDS

IC 13-21-9
    Chapter 9. Financing: Waste Management Development Bonds

IC 13-21-9-1
Financing facilities; negotiations
    Sec. 1. A board may periodically enter into negotiations with one(1) or more persons concerning the terms and conditions of financingfacilities. Preliminary expenses in connection with negotiations maybe paid from any of the following:
        (1) Money furnished by the proposed user or developer.
        (2) Grant money.
        (3) Money of the board.
As added by P.L.1-1996, SEC.11.

IC 13-21-9-2
Public hearing and notice; financing agreement
    Sec. 2. (a) The board shall hold a public hearing on the proposedfinancing of the facilities after giving public notice.
    (b) Upon findings by the board that:
        (1) the proposed financing will benefit the health or welfare ofthe district; and
        (2) the proposed financing complies with the purposes andprovisions of this article;
the board shall adopt a resolution to approve the financing, includingthe form and terms of the financing agreement, the wastemanagement development bonds, and the trust indenture, if any.
As added by P.L.1-1996, SEC.11.

IC 13-21-9-3
Waste management development bonds
    Sec. 3. (a) The resolution adopted under section 2 of this chaptermay also authorize the issuance of waste management developmentbonds payable solely from:
        (1) revenues and receipts derived from a financing agreement;or
        (2) payments made under a guaranty agreement by a developer,user, or any other person.
    (b) The waste management development bonds are not in anyrespect a general obligation of the district.
As added by P.L.1-1996, SEC.11.

IC 13-21-9-4
Financing agreement; payments; term; retention of interest infacility by district
    Sec. 4. (a) A financing agreement must provide for payments inan amount not less than an amount sufficient to pay:
        (1) the principal of;
        (2) the premium, if any, of; and
        (3) interest on;
the waste management development bonds authorized for the

financing of the facilities.
    (b) The term of a financing agreement may not exceed forty (40)years from the date of any waste management development bondsissued under the agreement. However, a financing agreement doesnot terminate after forty (40) years if a default under the agreementremains uncured, unless the termination is authorized under the termsof the financing agreement.
    (c) If the district retains an interest in the facilities, the financingagreement must require the user or developer to pay all:
        (1) costs of maintenance and repair;
        (2) taxes;
        (3) assessments;
        (4) insurance premiums;
        (5) trustee's fees; and
        (6) any other expenses relating to the facilities;
so that the district will not incur any expenses due to the facilitiesthat are not covered by the payments provided for in the financingagreement.
As added by P.L.1-1996, SEC.11.

IC 13-21-9-5
Bonds; expenses, premiums, and commissions
    Sec. 5. The district may advance all expenses, premiums, andcommissions that the district considers necessary or advantageous inconnection with the issuance of bonds issued under this chapter.
As added by P.L.1-1996, SEC.11.

IC 13-21-9-6
Exemption from property tax on facilities
    Sec. 6. (a) The district is exempt from all property taxes onfacilities.
    (b) Developers and users are liable for property taxes on facilitiesas provided by law.
    (c) This chapter does not deny a tax exemption that a developeror user may have under other laws because of the nature of thefacilities or the user.
As added by P.L.1-1996, SEC.11.

IC 13-21-9-7
Approvals and permits
    Sec. 7. The user or developer is responsible for obtaining andmaintaining all approvals and permits required for the constructionof the facilities under this chapter.
As added by P.L.1-1996, SEC.11.