IC 5-1-18
    Chapter 18. Reports Concerning Bonds and Leases of PoliticalSubdivisions

IC 5-1-18-1
"Bonds"
    Sec. 1. As used in this chapter,"bonds" means any bonds, notes,or other evidences of indebtedness, including guaranteed energysavings contracts and advances from the common school fund,whether payable from property taxes, other taxes, revenues, or anyother source. However, the term does not include notes, warrants, orother evidences of indebtedness made in anticipation of and to bepaid from current revenues of a political subdivision actually leviedand in the course of collection for the fiscal year in which the notes,warrants, or other evidences of indebtedness are issued.
As added by P.L.199-2005, SEC.2.

IC 5-1-18-2
"Department"
    Sec. 2. As used in this chapter, "department" refers to thedepartment of local government finance.
As added by P.L.199-2005, SEC.2.

IC 5-1-18-3
"Lease"
    Sec. 3. As used in this chapter, "lease" means a lease of realproperty that is entered into by a political subdivision for a term ofat least twelve (12) months, whether payable from property taxes,other taxes, revenues, or any other source.
As added by P.L.199-2005, SEC.2.

IC 5-1-18-4
"Lease rentals"
    Sec. 4. As used in this chapter, "lease rentals" means the paymentsrequired under a lease.
As added by P.L.199-2005, SEC.2.

IC 5-1-18-5
"Political subdivision"
    Sec. 5. As used in this chapter, "political subdivision" has themeaning set forth in IC 36-1-2-13.
As added by P.L.199-2005, SEC.2.

IC 5-1-18-6
Information report for bonds and leases
    Sec. 6. A political subdivision that issues bonds or enters into alease after December 31, 2005, shall supply the department withinformation concerning the bond issue or lease not later thanDecember 31 of the year in which the bonds are issued or the leaseis executed.As added by P.L.199-2005, SEC.2. Amended by P.L.219-2007,SEC.8.

IC 5-1-18-7
Bond report requirements; uniformity; electronic submission
    Sec. 7. (a) Except as provided by subsection (b), the bond issueinformation required by section 6 of this chapter must be submittedon a form prescribed by the department and must include:
        (1) the par value of the bond issue;
        (2) a schedule of maturities and interest rates;
        (3) the purposes of the bond issue;
        (4) the itemized costs of issuance information, including feesfor bond counsel, other legal counsel, underwriters, andfinancial advisors;
        (5) the type of bonds that are issued; and
        (6) other information as required by the department.
A copy of the official statement and bond covenants, if any, must besupplied with this information.
    (b) The department may establish a procedure that permits apolitical subdivision or a person acting on behalf of a politicalsubdivision to transfer all or part of the information described insubsection (a) to the department in a uniform format through a secureconnection over the Internet or through other electronic means.
As added by P.L.199-2005, SEC.2.

IC 5-1-18-8
Lease report requirements; uniformity; electronic submission
    Sec. 8. (a) Except as provided by subsection (b), the leaseinformation required by section 6 of this chapter must be submittedon a form prescribed by the department and must include:
        (1) the term of the lease;
        (2) the annual and total amount of lease rental payments dueunder the lease;
        (3) the purposes of the lease;
        (4) the itemized costs incurred by the political subdivision withrespect to the preparation and execution of the lease, includingfees for legal counsel and other professional advisors;
        (5) if all or part of the lease rental payments are used by thelessor as debt service payments for bonds issued for theacquisition, construction, renovation, improvement, expansion,or use of a building, structure, or other public improvement forthe political subdivision:
            (A) the name of the lessor;
            (B) the par value of the bond issue; and
            (C) the purposes of the bond issue; and
        (6) other information as required by the department.
    (b) The department may establish a procedure that permits apolitical subdivision or a person acting on behalf of a politicalsubdivision to transfer all or part of the information described insubsection (a) to the department in a uniform format through the

Internet or other electronic means, as determined by the department.
As added by P.L.199-2005, SEC.2.

IC 5-1-18-9
Bonds or leases outstanding; annual summary report
    Sec. 9. Each political subdivision that has any outstanding bondsor leases shall submit a report to the department before March 1 of2006 and each year thereafter that includes a summary of all theoutstanding bonds of the political subdivision as of January 1 of thatyear. The report must:
        (1) distinguish the outstanding bond issues and leases on thebasis of the type of bond or lease, as determined by thedepartment;
        (2) include a comparison of the political subdivision'soutstanding indebtedness compared to any applicable statutoryor constitutional limitations on indebtedness;
        (3) include other information as required by the department; and
        (4) be submitted on a form prescribed by the department orthrough the Internet or other electronic means, as determined bythe department.
As added by P.L.199-2005, SEC.2.

IC 5-1-18-10
Compiled reports; electronic data base; Internet publication
    Sec. 10. The department shall:
        (1) compile an electronic data base that includes theinformation submitted under this chapter; and
        (2) after December 31, 2006, post the information submittedunder this chapter on the Internet at least annually.
As added by P.L.199-2005, SEC.2.

IC 5-1-18-11
Information submitted; public record
    Sec. 11. Information submitted to the department under thischapter is a public record that may be inspected and copied underIC 5-14-3.
As added by P.L.199-2005, SEC.2.

IC 5-1-18-12
Rulemaking power
    Sec. 12. The department may adopt rules under IC 4-22-2 to carryout the purposes of this chapter.
As added by P.L.199-2005, SEC.2.