IC 13-21-11
Chapter 11. Financing: Borrowing Evidenced by Notes
IC 13-21-11-1 Anticipation notes
Sec. 1. A district:
(1) pending receipt of a grant; or
(2) in anticipation of the issuance of bonds under this article;
may borrow money from any person and evidence the debt by a note
or notes executed by the chairperson of the board and the controller
of the district and containing the terms and provisions prescribed by
the board. As added by P.L.1-1996, SEC.11.
IC 13-21-11-2 Sale of notes
Sec. 2. An issuance of a note or notes or evidence of indebtedness
under this chapter or IC 13-9.5-9-7 (before its repeal) may be sold at
a public or private negotiated sale. As added by P.L.1-1996, SEC.11.
IC 13-21-11-3 Term
Sec. 3. A note or notes issued or renewed under this chapter must:
(1) mature not more than five (5) years from the date of
issuance of the original note; and
(2) pledge for the payment of the principal and interest the
proceeds of the grant or bonds. As added by P.L.1-1996, SEC.11.
IC 13-21-11-4 Application of proceeds
Sec. 4. The board shall apply the proceeds of a note issued under
this chapter or IC 13-9.5-9-7 (before its repeal) to the cost of the
facility for which the grant is to be made or bonds issued, although
a purchaser of any obligations is not liable for the proper application
of the proceeds. As added by P.L.1-1996, SEC.11.
IC 13-21-11-5 Board approval
Sec. 5. Notes issued under this chapter must be approved by a
resolution of the board. As added by P.L.1-1996, SEC.11.
IC 13-21-11
Chapter 11. Financing: Borrowing Evidenced by Notes
IC 13-21-11-1 Anticipation notes
Sec. 1. A district:
(1) pending receipt of a grant; or
(2) in anticipation of the issuance of bonds under this article;
may borrow money from any person and evidence the debt by a note
or notes executed by the chairperson of the board and the controller
of the district and containing the terms and provisions prescribed by
the board. As added by P.L.1-1996, SEC.11.
IC 13-21-11-2 Sale of notes
Sec. 2. An issuance of a note or notes or evidence of indebtedness
under this chapter or IC 13-9.5-9-7 (before its repeal) may be sold at
a public or private negotiated sale. As added by P.L.1-1996, SEC.11.
IC 13-21-11-3 Term
Sec. 3. A note or notes issued or renewed under this chapter must:
(1) mature not more than five (5) years from the date of
issuance of the original note; and
(2) pledge for the payment of the principal and interest the
proceeds of the grant or bonds. As added by P.L.1-1996, SEC.11.
IC 13-21-11-4 Application of proceeds
Sec. 4. The board shall apply the proceeds of a note issued under
this chapter or IC 13-9.5-9-7 (before its repeal) to the cost of the
facility for which the grant is to be made or bonds issued, although
a purchaser of any obligations is not liable for the proper application
of the proceeds. As added by P.L.1-1996, SEC.11.
IC 13-21-11-5 Board approval
Sec. 5. Notes issued under this chapter must be approved by a
resolution of the board. As added by P.L.1-1996, SEC.11.
IC 13-21-11
Chapter 11. Financing: Borrowing Evidenced by Notes
IC 13-21-11-1 Anticipation notes
Sec. 1. A district:
(1) pending receipt of a grant; or
(2) in anticipation of the issuance of bonds under this article;
may borrow money from any person and evidence the debt by a note
or notes executed by the chairperson of the board and the controller
of the district and containing the terms and provisions prescribed by
the board. As added by P.L.1-1996, SEC.11.
IC 13-21-11-2 Sale of notes
Sec. 2. An issuance of a note or notes or evidence of indebtedness
under this chapter or IC 13-9.5-9-7 (before its repeal) may be sold at
a public or private negotiated sale. As added by P.L.1-1996, SEC.11.
IC 13-21-11-3 Term
Sec. 3. A note or notes issued or renewed under this chapter must:
(1) mature not more than five (5) years from the date of
issuance of the original note; and
(2) pledge for the payment of the principal and interest the
proceeds of the grant or bonds. As added by P.L.1-1996, SEC.11.
IC 13-21-11-4 Application of proceeds
Sec. 4. The board shall apply the proceeds of a note issued under
this chapter or IC 13-9.5-9-7 (before its repeal) to the cost of the
facility for which the grant is to be made or bonds issued, although
a purchaser of any obligations is not liable for the proper application
of the proceeds. As added by P.L.1-1996, SEC.11.
IC 13-21-11-5 Board approval
Sec. 5. Notes issued under this chapter must be approved by a
resolution of the board. As added by P.L.1-1996, SEC.11.
