IC 8-15-2
Chapter 2. Operation and Financing of Toll Roads
IC 8-15-2-1 Purpose; powers; applicability to the authority
Sec. 1. (a) In order to remove the handicaps and hazards on the
congested highways in Indiana, to facilitate vehicular traffic
throughout the state, to promote the agricultural and industrial
development of the state, and to provide for the general welfare by
the construction of modern express highways embodying safety
devices, including center division, ample shoulder widths, long sight
distances, multiple lanes in each direction, and grade separations at
intersections with other highways and railroads, the authority may:
(1) subject to subsection (d), construct, reconstruct, maintain,
repair, and operate toll road projects at such locations as shall
be approved by the governor;
(2) in accordance with such alignment and design standards as
shall be approved by the authority and subject to IC 8-9.5-8-10,
issue toll road revenue bonds of the state payable solely from
funds pledged for their payment, as authorized by this chapter,
to pay the cost of such projects;
(3) finance, develop, construct, reconstruct, improve, or
maintain improvements for manufacturing, commercial, or
public transportation activities within a county through which
a toll road passes;
(4) in cooperation with the Indiana department of transportation
or a political subdivision, construct, reconstruct, or finance the
construction or reconstruction of an arterial highway or an
arterial street that is located within a county through which a
toll road passes and that:
(A) interchanges with a toll road project; or
(B) intersects with a road or a street that interchanges with
a toll road project;
(5) finance improvements necessary for developing
transportation corridors in northwestern Indiana; and
(6) exercise these powers in participation with any
governmental entity or with any individual, partnership, limited
liability company, or corporation.
(b) Notwithstanding subsection (a), the authority shall not
construct, maintain, operate, nor contract for the construction,
maintenance, or operation of transient lodging facilities on, or
adjacent to, such toll road projects.
(c) This chapter:
(1) applies to the authority only when acting for the purposes
set forth in this chapter; and
(2) does not apply to the authority when acting under any other
statute for any other purpose.
(d) Notwithstanding any other law, neither the authority nor an
operator selected under IC 8-15.5 may carry out any of the following
activities under this chapter unless the general assembly enacts a
statute authorizing that activity:
(1) Carrying out construction for Interstate Highway 69 in a
township having a population of more than seventy-five
thousand (75,000) and less than ninety-three thousand five
hundred (93,500).
(2) Imposing tolls on motor vehicles for use of the part of an
interstate highway that connects a consolidated city and a city
having a population of more than eleven thousand five hundred
(11,500) but less than eleven thousand seven hundred forty
(11,740). (Formerly: Acts 1951, c.281, s.1; Acts 1959, c.285, s.1.) As amended
by Acts 1980, P.L.74, SECS.222, 223; P.L.109-1983, SEC.4;
P.L.48-1986, SEC.3; P.L.18-1990, SEC.128; P.L.8-1993, SEC.143;
P.L.89-1997, SEC.1; P.L.235-2005, SEC.115; P.L.214-2005,
SEC.51; P.L.47-2006, SEC.8; P.L.1-2006, SEC.156; P.L.1-2007,
SEC.80.
IC 8-15-2-1.1 Mandatory transfer of funds
Sec. 1.1. (a) A written agreement between the authority and a city,
town, or county under section 1 of this chapter, or a similar
government cooperative statute, may provide for a mandatory
transfer of funds by the auditor of state under this section if one (1)
of the parties becomes more than sixty (60) days late in making a
payment required by the agreement.
(b) To obtain a mandatory transfer of funds, the party to whom the
funds were to be paid under the terms of the written agreement must
certify in writing to the auditor of state:
(1) that a written agreement between the parties authorizes the
mandatory transfer of funds as provided in subsection (a);
(2) that the owing party was notified in writing of the amount
owed;
(3) that the payment is more than sixty (60) days past due;
(4) the names of the parties; and
(5) the amount of the payment due.
(c) Upon receipt of a certificate as specified in subsection (b), the
auditor of state shall:
(1) immediately notify the delinquent party of the claim; and
(2) if proof of payment is not furnished to the auditor of state
within thirty (30) days after the delinquent party has been
notified, transfer the unpaid amount from the delinquent party's
allocations from the motor vehicle highway account to the other
party.
(d) Transfers shall be made under subsection (c) until the unpaid
amount has been paid in full under the terms of the agreement.
However, the agreement may be amended if both the department and
the unit agree to amortize the transfer over a period of time not to
exceed five (5) years. As added by P.L.116-1989, SEC.2. IC 8-15-2-1.3 Procedures for allocation of money; considerations in prioritizing
and selecting projects
Sec. 1.3. (a) The authority shall establish a written procedure for
allocating money to projects described in section 1(a)(3) and 1(a)(4)
of this chapter.
(b) The procedure established under this section must include at
least the following:
(1) An application procedure to identify projects that qualify for
funding.
(2) Criteria for prioritizing projects.
(3) Procedures for selecting projects.
(4) Procedures for reporting the results of the selection process
and the status of projects to the commission on state tax and
financing policy.
(c) The prioritization and selection process under this section
must give consideration to the following:
(1) The impact of the project on toll road usage.
(2) Consistency of the project with local transportation plans.
(3) The extent to which the project will have local financial
participation relative to local available resources.
(4) The amount of vehicular traffic served.
(5) The potential local economic impact.
(6) Whether the project is deemed to be an emergency by the
applicant and the authority. As added by P.L.83-1996, SEC.2.
IC 8-15-2-2 Pledge state faith and credit
Sec. 2. (a) Toll road revenue bonds issued under the provisions of
this chapter:
(1) shall not be deemed to constitute a debt of the state or of any
political subdivision thereof or a pledge of the faith and credit
of the state or of any such political subdivision; and
(2) shall be payable soley from an allocation of money from the
rural transportation road fund under IC 8-9.5-8-16 or from the
funds pledged for their payment as authorized by this chapter,
unless such bonds are refunded by refunding bonds issued
under the provisions of this chapter, which refunding bonds
shall be payable solely from funds pledged for their payment as
authorized by this chapter.
(b) All such revenue bonds shall contain on the face thereof a
statement to the effect that the bonds, as to both principal and
interest, are not an obligation of the state of Indiana, or of any
political subdivision thereof, but are payable solely from funds
pledged for their payment, as authorized by this chapter.
(c) All expenses incurred in carrying out the provisions of this
chapter shall be payable solely from an allocation of money from the
rural transportation road fund under IC 8-9.5-8-16 or from funds
provided under this chapter and nothing contained in this chapter
shall be construed to authorize the authority to incur indebtedness or
liability on behalf of or payable by the state or any political
subdivision thereof. (Formerly: Acts 1951, c.281, s.2.) As amended by Acts 1980, P.L.74,
SECS.224, 225; P.L.109-1983, SEC.5; P.L.386-1987(ss), SEC.7.
IC 8-15-2-3
Repealed
(Repealed by P.L.109-1983, SEC.50.)
IC 8-15-2-4 Definitions
Sec. 4. As used in this chapter, the following words and terms
shall have the following meanings, unless the context shall indicate
another or different meaning or intent:
(1) "Authority" refers to the Indiana finance authority
established under IC 4-4-11.
(2) "Capitalized interest" means:
(A) interest costs on toll road revenue bonds before and
during the period of construction of the project for the
payment of the cost of which the bonds were issued, and for
one (1) year after completion of construction; and
(B) interest costs on succeeding lien bonds authorized by
this chapter for the period from the date of such bonds until
the date when the prior outstanding toll road revenue bonds,
for which revenues are pledged, are retired, but not later than
ten (10) years from the date of issue of the succeeding lien
bonds.
(3) "Department" refers to the Indiana department of
transportation.
(4) "Project" or "toll road project" means any new or existing
express highway, limited access facility, superhighway, or
motorway constructed under the provisions of this chapter or
accepted as a toll road under IC 8-23-7, including all bridges,
tunnels, overpasses, underpasses, interchanges, entrance plazas,
approaches, tollhouses, service stations, and administration,
storage, and other buildings and facilities which the authority
may deem necessary or desirable for the operation of the
project, together with all property, rights, easements, and
interests which may be acquired by the authority for the
construction or the operation of the project. "Project" or "toll
road project" includes any subsequent improvement,
betterment, enlargement, extension, or reconstruction of an
existing project. "Project" or "toll road project" also includes a
project connecting the state of Indiana with an adjacent state.
Each project or toll road project may be constructed or extended
in such sections as the authority may from time to time
determine, and shall be separately designated by name or
number, which designation shall also apply to any project which
is a subsequent improvement, betterment, enlargement,
extension, or reconstruction of such project. The construction,
maintenance, or operation, of transient lodging facilities on, or
adjacent to any such project, or the contracting therefor, shall
not be considered as within the definition of "project" or "toll
road project".
(5) "Cost" as applied to a toll road project or any part of a toll
road project includes:
(A) the cost of construction, including bridges over or under
existing highways and railroads;
(B) the cost of acquisition of all land, rights-of-way,
property, rights, easements, and interests acquired by the
authority for such construction;
(C) the cost of demolishing or removing any buildings or
structures on land so acquired, including the cost of
acquiring any lands to which such buildings or structures
may be moved;
(D) the cost of diverting highways, interchange of highways,
and access roads to private property, including the cost of
land or easements therefor;
(E) the cost of all machinery and equipment;
(F) financing charges and capitalized interest;
(G) the cost of funding any reserves to secure the payment
of toll road revenue bonds;
(H) the cost of traffic estimates and of engineering and legal
expenses, plans, specifications, surveys, estimates of cost
and revenues;
(I) other expenses necessary or incident to determining the
feasibility or practicability of constructing any such project;
(J) administrative expense;
(K) such other expenses as may be necessary or incident to
the construction of the project, the financing of such
construction, and the placing of the project in operation; and
(L) the cost of conversion to a toll road project of a state
highway or part of a highway accepted as a toll road project
under IC 8-23-7.
Any obligation or expense incurred by the department for
surveys, borings, preparation of plans and specifications, and
other engineering services in connection with the construction
of a project under this chapter or for the repayment of a grant
from a federal agency which the authority itself would be
authorized to repay under section 5(9) of this chapter in
connection with such project or with the issuance of bonds for
the payment of the cost of such project, shall be regarded as a
part of the cost of such project and shall be reimbursed to the
state out of the proceeds of toll road revenue bonds as
authorized.
(6) "Owner" includes all individuals, copartnerships,
associations, limited liability companies, or corporations having
any title or interest in any property, rights, easements, and
interests authorized to be acquired by this chapter.
(7) "Revenues" means all tolls, rentals, gifts, grants, money, and
all other funds and property coming into the possession or
under the control of the authority by virtue of the terms and
provisions of this chapter, except the proceeds from the sale of
bonds issued under the provisions of this chapter and earnings
thereon.
(8) "Public roads" includes all public highways, roads, and
streets in the state, whether maintained by the state, county,
city, township, or other political subdivision.
(9) "Transient lodging facility" means accommodations for
overnight or temporary habitation, including, but not limited to,
hotels, motels, motor courts, lodges, and inns, for persons using
any toll road project.
(10) "Toll road bonds" means all bonds issued under the
provisions of this chapter, including refunding bonds and
succeeding lien bonds.
(11) "State highway" means a public road for which the
department is responsible under IC 8-23-2. (Formerly: Acts 1951, c.281, s.4; Acts 1959, c.285, s.2.) As amended
by Acts 1980, P.L.74, SECS.226, 227; Acts 1981, P.L.41, SEC.52;
P.L.109-1983, SEC.6; P.L.386-1987(ss), SEC.8; P.L.68-1988,
SEC.13; P.L.18-1990, SEC.129; P.L.8-1993, SEC.144;
P.L.235-2005, SEC.116; P.L.85-2010, SEC.1.
IC 8-15-2-5 Powers
Sec. 5. The authority may do the following:
(1) Construct, maintain, repair, police, and operate toll road
projects (as defined in this chapter), public improvements, and
arterial streets and roads under section 1 of this chapter and
establish rules for the use of any such toll road project, public
improvement, or arterial street or road.
(2) Issue toll road revenue bonds of the state, payable solely
from an allocation of money from the rural transportation road
fund under IC 8-9.5-8-16 or from revenues or from the proceeds
of bonds issued under this chapter and earnings thereon, or from
all three (3), for the purpose of paying all or any part of the cost
of any one (1) or more toll road projects or for the purpose of
refunding any other toll road revenue bonds.
(3) Establish reserves from the proceeds of the sale of bonds or
from other funds, or both, to secure the payment of the bonds.
(4) Fix and revise from time to time and charge and collect tolls
for transit over each toll road project constructed by it.
(5) Acquire in the name of the state by purchase or otherwise,
on such terms and conditions and in such manner as it may
deem proper, or by the exercise of the right of condemnation in
the manner as provided by this chapter, such public or private
lands, including public parks, playgrounds or reservations, or
parts thereof or rights therein, rights-of-way, property, rights,
easements, and interests, as it may deem necessary for carrying
out the provisions of this chapter. The authority may also:
(A) sell, transfer, and convey any such land or any interest
therein so acquired, or any portion thereof, whether by
purchase, condemnation, or otherwise, and whether such
land or interest therein had been public or private, when the
same shall no longer be needed for such purposes; and
(B) transfer and convey any such lands or interest therein as
may be necessary or convenient for the construction and
operation of any toll road project, or as otherwise required
under the provisions of this chapter to a state agency or
political subdivision.
(6) Designate the locations and establish, limit, and control such
points of ingress to and egress from each toll road project as
may be necessary or desirable in the judgment of the authority
to ensure the proper operation and maintenance of such
projects, and to prohibit entrance to such project from any point
not so designated. The authority shall not grant, for the
operation of transient lodging facilities, either ingress to or
egress from any project, including the service areas thereof on
which are located service stations and restaurants, and including
toll plazas and paved portions of the right-of-way. The authority
shall cause to be erected, at its cost, at all points of ingress and
egress, large and suitable signs facing traffic from each
direction on the toll road. Such signs shall designate the number
and other designations, if any, of all United States or state
highways of ingress or egress, the names of all Indiana
municipalities with a population of five thousand (5,000) or
more within a distance of seventy-five (75) miles on such roads
of ingress or egress, and the distance in miles to such
designated municipalities.
(7) Make and enter into all contracts and agreements necessary
or incidental to the performance of its duties and the execution
of its powers under this chapter, IC 8-9.5-8, or IC 8-15.5. When
the cost under any such contract or agreement, other than:
(A) a contract for compensation for personal services;
(B) a contract with the department under IC 8-9.5-8-7;
(C) a lease with the department under IC 8-9.5-8-8; or
(D) a contract, a lease, or another agreement under
IC 8-15.5;
involves an expenditure of more than ten thousand dollars
($10,000), the authority shall make a written contract with the
lowest and best bidder after advertisement for not less than two
(2) consecutive weeks in a newspaper of general circulation in
Marion County, Indiana, and in such other publications as the
authority shall determine. Such notice shall state the general
character of the work and the general character of the materials
to be furnished, the place where plans and specifications
therefor may be examined, and the time and place of receiving
bids. Each bid shall contain the full name of every person or
company interested in it and shall be accompanied by a
sufficient bond or certified check on a solvent bank that if the
bid is accepted a contract will be entered into and the
performance of its proposal secured. The authority may reject
any and all bids. A bond with good and sufficient surety shall
be required by the authority of all contractors in an amount
equal to at least fifty percent (50%) of the contract price,
conditioned upon the faithful performance of the contract. The
authority shall require a bid, performance, and payment bond
from a contractor for a project if the estimated cost of the
project is more than two hundred thousand dollars ($200,000).
The authority may require a bid, performance, or payment bond
from a contractor for a project if the estimated cost of the
project is not more than two hundred thousand dollars
($200,000).
(8) Employ consulting engineers, superintendents, managers,
and such other engineers, construction and accounting experts,
bond counsel, other attorneys with the approval of the attorney
general, and other employees and agents as may be necessary in
its judgment to carry out the provisions of this chapter, and to
fix their compensation. However, all such expenses shall be
payable solely from the proceeds of toll road revenue bonds
issued under the provisions of this chapter or from revenues.
(9) Receive and accept from any federal agency, subject to
IC 8-23-3, grants for or in aid of the construction of any toll
road project, and receive and accept aid or contributions from
any source of either money, property, labor, or other things of
value, to be held, used, and applied only for the purposes for
which such grants and contributions may be made, and repay
any grant to the authority or to the department from a federal
agency if such repayment is necessary to free the authority from
restrictions which the authority determines to be in the public
interest to remove.
(10) Establish fees, charges, terms, or conditions for any
expenditures, loans, or other form of financial participation in
projects authorized as public improvements on arterial streets
and roads under section 1 of this chapter.
(11) Accept gifts, devises, bequests, grants, loans,
appropriations, revenue sharing, other financing and assistance,
and any other aid from any source and agree to and comply with
conditions attached to the aid.
(12) Accept transfer of a state highway to the authority under
IC 8-23-7-23 and pay the cost of conversion of the state
highway to a toll road project.
(13) Enter into contracts or leases with the department under
IC 8-9.5-8-7 or IC 8-9.5-8-8 and in connection with the
contracts or leases agree with the department for coordination
of the operation and the repair and maintenance of toll road
projects and tollways which are contiguous parts of the same
public road, including joint toll collection facilities and
equitable division of tolls.
(14) Enter into public-private agreements under IC 8-15.5 and
do all acts and things necessary or proper to carry out the
purposes set forth in IC 8-15.5.
(15) Do all acts and things necessary or proper to carry out this
chapter. (Formerly: Acts 1951, c.281, s.5; Acts 1957, c.273, s.1; Acts 1959,
c.285, s.3; Acts 1969, c.86, s.1.) As amended by Acts 1977, P.L.112,
SEC.1; Acts 1980, P.L.74, SECS.228, 229; Acts 1981, P.L.41,
SEC.53; Acts 1982, P.L.62, SEC.10; P.L.109-1983, SEC.7;
P.L.48-1986, SEC.4; P.L.386-1987(ss), SEC.9; P.L.18-1990,
SEC.130; P.L.47-2006, SEC.9; P.L.133-2007, SEC.9.
IC 8-15-2-5.2 Prohibition of sale, conveyance, or mortgage
Sec. 5.2. The authority may not sell, convey, or mortgage a toll
road project. As added by P.L.47-2006, SEC.10.
IC 8-15-2-5.5 Policing of toll roads
Sec. 5.5. (a) The authority may, if it determines to do so:
(1) employ its own police officers for the purpose of policing
any toll road under its jurisdiction;
(2) designate one (1) or more of such officers for the purpose of
policing any toll road under its jurisdiction; and
(3) designate one (1) of such officers as chief or superintendent.
(b) The police officers so employed by the authority are vested
with all necessary police powers to enforce the provisions of the laws
of the state of Indiana and without writ or warrant for violation
thereof when committed in their presence. To this end, police
officers employed by the authority shall be peace officers and shall
have within the property limits of the toll road project the same
powers with respect to the enforcement of laws as have sheriffs,
constables, and police officers in their respective jurisdictions. Any
warrant of arrest or search warrant issued by proper authority of the
state may be executed by any police officers employed by the
authority within the property limits of the toll road project.
(c) All uniformed police officers employed by the authority shall
carry arms, and nonuniformed police officers employed by the
authority may carry arms if in the performance of their duties. (Formerly: Acts 1971, P.L.99, SEC.8.) As amended by Acts 1981,
P.L.41, SEC.54; P.L.109-1983, SEC.8.
IC 8-15-2-6 Additional powers
Sec. 6. (a) The authority may:
(1) construct grade separations at intersections of any toll road
project with public roads, state highways, and railroads; and
(2) change and adjust the lines and grades of such public roads,
state highways, railroads, and public utility facilities.
The change and adjustment of lines and grades of public roads and
state highways is subject to the approval of the division of
government having jurisdiction of that road or highway. The cost of
such grade separation and any damage incurred in changing and
adjusting the lines and grades of such roads, highways, railroads, and
public utility facilities, shall be ascertained and paid by the authority
as a part of the cost of such toll road project.
(b) If the authority shall find it necessary to change the location
of any portion of any public road, state highway, railroad, or public
utility facility, it shall cause the same to be reconstructed at such
location as the division of government having jurisdiction over such
road, highway, railroad, or public utility facility shall deem most
favorable and of substantially the same type and in as good condition
as the original road, highway or railroad, or public utility facility.
The cost of such reconstruction, relocation, or removal and any
damage incurred in changing the location of any such road, highway,
railroad, or public utility facility shall be ascertained and paid by the
authority as a part of the cost of such toll road project.
(c) The authority shall have authority to petition, in the manner
prescribed in IC 36-7-3-12, the legislative body of the municipality
or of the county wherein is situated any public road or part thereof,
affected by the location therein of any toll road project, for the
vacation or relocation of such road or any part thereof.
(d) In addition, the authority and its authorized agents and
employees after proper notice may enter upon any lands, waters, and
premises in the state for the purpose of making surveys, soundings,
drillings, and examinations as are necessary or proper for the
purposes of this chapter, and such entry shall not be deemed a
trespass, nor shall an entry for such purposes be deemed an entry
under any condemnation proceedings which may be then pending.
However, before entering upon the premises of any railroad, notice
shall be given to the superintendent of such railroad involved, at least
five (5) days in advance of such entry, that survey, sounding, drilling,
and examination shall be made between the rails, or so close to a
railroad track as would render said track unusable. The authority
shall make reimbursement for any actual damage resulting to such
lands, waters, and premises and to private property located in, on,
along, over, or under such lands, waters, and premises as a result of
such activities. The state of Indiana, subject to the approval of the
governor, consents to the use of all lands owned by it, including
lands lying under water, which are necessary or proper for the
construction or operation of any toll road project, provided adequate
compensation is made for such use.
(e) The authority shall also have power to make reasonable
regulations for the installation, construction, maintenance, repair,
renewal, relocation, and removal of tracks, pipes, mains, conduits,
cables, wires, towers, poles, and other equipment and appliances
(referred to in this subsection as "public utility facilities") of any
public utility in, on, along, over, or under any toll road project.
Whenever the authority shall determine that it is necessary that any
such public utility facilities which are located in, on, along, over, or
under any such project should be relocated in such project, or should
be removed from such project, the public utility owning or operating
such facilities shall relocate or remove the same in accordance with
the order of the authority; however, the cost and expenses of such
relocation or removal, including the cost of installing such facilities
in a new location or new locations, and the cost of any lands, or any
rights or interests in lands, and any other rights, acquired to
accomplish such relocation or removal, shall be ascertained and paid
by the authority as a part of the cost of such project excepting cases
in which such equipment or facilities are located within the limits of
existing highways or public thoroughfares being constructed,
reconstructed, or improved under the provisions of this chapter. In
case of any such relocation or removal of facilities, the public utility
owning or operating the same, its successors or assigns, may
maintain and operate such facilities, with the necessary
appurtenances, in the new location or new locations for as long a
period, and upon the same terms and conditions, as it had the right to
maintain and operate such facilities in their former location or
locations subject, however, to the state's right of regulation under its
police powers. (Formerly: Acts 1951, c.281, s.6.) As amended by Acts 1980, P.L.74,
SEC.230; P.L.109-1983, SEC.9; P.L.5-1988, SEC.51.
IC 8-15-2-7 Powers to purchase
Sec. 7. The authority may:
(1) acquire by purchase, whenever it shall deem such purchase
expedient, any land, property, rights, rights-of-way, franchises,
easements, and other interests in lands as it may deem necessary
or convenient for the construction and operation of any toll road
project upon such terms and at such price as may be considered
by it to be reasonable and can be agreed upon between the
authority and the owner thereof, and to take title thereto in the
name of the state;
(2) sell, transfer, and convey any such land or any interest
therein so acquired, or any portion thereof, when the same shall
no longer be needed for such purposes; and
(3) transfer and convey any such lands or interests therein as
may be necessary or convenient for the construction and
operation of any toll road project, or as otherwise required
under this chapter. (Formerly: Acts 1951, c.281, s.7; Acts 1957, c.273, s.2.) As amended
by Acts 1980, P.L.74, SEC.231; P.L.109-1983, SEC.10.
IC 8-15-2-8 Powers to appropriate
Sec. 8. The authority may acquire by appropriation any land,
property, rights, rights-of-way, franchises, easements, or other
property necessary or proper for the construction or the efficient
operation of any toll road project in the manner provided by
IC 8-23-7. However, a compensation for the property so taken shall
first be made in money as provided by law. Nothing in this chapter
shall authorize the authority to take or disturb property or facilities
belonging to any public utility or to a common carrier engaged in
interstate commerce, which property or facilities are required for the
proper and convenient operation of the public utility or common
carrier, unless provision is made for the restoration, relocation, or
duplication of the property or facilities elsewhere at the sole cost of
the authority excepting, however, cases in which the equipment or
facilities are located within the limits of existing highways or public
thoroughfares being constructed, reconstructed, or improved under
the provisions of this chapter. (Formerly: Acts 1951, c.281, s.8.) As amended by Acts 1980, P.L.74,
SEC.232; P.L.109-1983, SEC.11; P.L.18-1990, SEC.131.
IC 8-15-2-9 Toll road revenue bonds
Sec. 9. (a) Subject to IC 8-9.5-8-10, the authority is authorized to
provide by a resolution at one (1) time or from time to time for the
issuance of toll road revenue bonds of the state for the purpose of
paying all or any part of the cost of any one (1) or more toll road
projects. The principal of and the interest on such bonds shall be
payable solely from an allocation of money from the rural
transportation road fund under IC 8-9.5-8-16 or from the revenues or
from the proceeds of bonds issued under the provisions of this
chapter and earnings thereon, or from all three (3).
(b) The bonds of each issue shall:
(1) be dated;
(2) bear interest at such rate or rates as shall be established by
the authority;
(3) mature at such time or times not exceeding forty (40) years
from their date or dates, as may be determined by the authority;
and
(4) be made redeemable before maturity at the option of the
authority at such price or prices and under such terms and
conditions as may be fixed by the authority prior to the issuance
of the bonds.
(c) The authority shall:
(1) determine the form of the bonds, including any interest
coupons to be attached thereto;
(2) fix the denomination or denominations of the bonds; and
(3) fix the place or places of payment of principal and interest,
which may be at any bank or trust company within or without
the state.
(d) The bonds shall be signed by the chairman of the authority or
by his facsimile signature, and attested to by the manual or the
facsimile signature of the public finance director, and any coupons
attached thereto shall bear the facsimile signature of the chairman of
the authority. In case any officer whose signature or a facsimile of
whose signature shall appear on any bonds or coupons shall cease to
be such officer before the delivery of such bonds, such signature or
such facsimile shall nevertheless be valid and sufficient for all
purposes the same as if he had remained in office until such delivery.
The authority may also provide for the authentication of the bonds by
a trustee or fiscal agent.
(e) All bonds issued under the provisions of this chapter shall
have and are declared to have all the qualities and incidents of
negotiable instruments under the negotiable instruments law of the
state of Indiana.
(f) The bonds may be issued in coupon or in registered form, or
both, as the authority may determine, and provisions may be made
for the registration of any coupon bonds as to principal alone and
also as to both principal and interest, and for the reconversion into
coupon bonds of any bonds registered as to both principal and
interest.
(g) The authority may sell such bonds in such manner and for
such price as it may determine to be for the best interests for the
state, either at a public or private sale.
(h) The proceeds of the bonds of each issue shall be:
(1) used solely for the payment of the cost of the toll road
project or projects for which such bonds shall have been issued;
and
(2) disbursed in such manner and under such restrictions, if any,
as the authority may provide in authorizing the issuance of such
bonds or in the trust agreement mentioned securing the same.
(i) If the proceeds of the bonds of any issue, by error of estimates
or otherwise, shall be less than such cost, additional bonds may in
like manner be issued to provide the amount of such deficit, and,
unless otherwise provided in the resolution authorizing the issuance
of such bonds or in the trust agreement securing the same, shall be
deemed to be of the same issue and shall be entitled to payment from
the same fund without preference or priority of the bonds first issued.
(j) If the proceeds of the bonds of any issue shall exceed the cost
of the toll road project or projects for which the same shall have been
issued, the surplus shall be deposited to the credit of the sinking fund
for such bonds.
(k) Prior to the preparation of definitive bonds, the authority may
under like restrictions, issue interim receipts or temporary bonds,
with or without coupons, exchangeable for definitive bonds when
such bonds shall have been executed and are available for delivery.
The authority may also provide for the replacement of any bonds
which shall become mutilated or shall be destroyed or lost.
(l) Except as provided by IC 8-9.5-8-10, bonds may be issued
under the provisions of this chapter without:
(1) obtaining the consent of any department, division,
commission, board, bureau, or agency of the state; and
(2) any other proceedings or the happening of any other
conditions or things than those proceedings, conditions, or
things which are specifically required by this chapter.
(Formerly: Acts 1951, c.281, s.9; Acts 1969, c.86, s.2; Acts 1971,
P.L.99, SEC.2.) As amended by Acts 1980, P.L.74, SECS.233, 234;
P.L.109-1983, SEC.12; P.L.386-1987(ss), SEC.10; P.L.5-1988,
SEC.52; P.L.162-2007, SEC.32.
IC 8-15-2-10 Toll road revenue refunding bonds
Sec. 10. (a) Subject to IC 8-9.5-8-10, the authority may provide
for the issuance of toll road revenue refunding bonds of the state
payable solely from the funds provided by this chapter for payment
for the purpose of:
(1) refunding any bonds then outstanding which shall have been
issued under the provisions of this chapter, including the
payment of any redemption premium thereon and any interest
accrued or to accrue to the date of redemption of such bonds;
and
(2) if deemed advisable by the authority, for the additional
purpose of constructing improvements, extensions, or
enlargements of the toll road project in connection with which
the bonds to be refunded shall have been issued.
(b) The issuance of such bonds, the maturities and other details
thereof, the rights of the holders thereof, and the rights, duties, and
obligations of the authority in respect of the same, shall be governed
by the provisions of this chapter insofar as the same may be
applicable. (Formerly: Acts 1951, c.281, s.10.) As amended by Acts 1980,
P.L.74, SECS.235, 236; P.L.109-1983, SEC.13.
IC 8-15-2-10.5 Toll road succeeding lien bonds
Sec. 10.5. (a) If at any time all revenues are pledged to secure the
payment of any toll road revenue bonds then outstanding, the
authority, rather than providing for the issuance of another series of
bonds equally secured by a pledge of such revenues or for immediate
refunding of such bonds, may as it considers it advisable, provide by
resolution for the issuance of toll road succeeding lien bonds of the
state for the purpose of paying all or any part of the cost of any one
(1) or more toll road projects, or for the present or future refunding
of part or all of the outstanding toll road revenue bonds, or for both
purposes.
(b) Notwithstanding any other provision of this chapter, revenues
shall not be considered to be pledged for the payment of such
succeeding lien bonds, including the interest thereon, so long as any
of such prior bonds are outstanding but, upon retirement of such
prior bonds, such revenues shall be subjected immediately to a
pledge securing the succeeding lien bonds by the terms of the trust
agreement under which such succeeding lien bonds are issued
without any further action by the authority.
(c) Succeeding lien bonds must provide that, pending payment of
all such prior outstanding bonds, interest on the succeeding lien
bonds shall be paid solely from the portion of the proceeds of the
succeeding lien bonds designated for the payment of capitalized
interest and from the earnings on such proceeds. After such prior
outstanding bonds have been redeemed or retired, the principal of,
premium, if any, and the interest on, the succeeding lien bonds shall
be payable solely from the revenues and other funds pledged for such
payment.
(d) The issuance and sale of succeeding lien bonds, the maturities
and other details thereof, the rights of the holders thereof, and the
rights, duties and obligations of the authority with respect thereto,
shall be governed by the provisions of this chapter insofar as the
same may be applicable, and the authority need not comply with the
requirements of any other law applicable to the issuance of bonds
other than as set forth in this chapter. As added by Acts 1980, P.L.74, SEC.237. Amended by Acts 1981,
P.L.41, SEC.55; P.L.109-1983, SEC.14.
IC 8-15-2-11 Journal of authority
Sec. 11. All final actions of the authority shall be journalized, and
the journal shall be open to the inspection of the public at all
reasonable times. (Formerly: Acts 1951, c.281, s.11.) As amended by P.L.109-1983,
SEC.15.
IC 8-15-2-12 Taxation
Sec. 12. (a) The exercise of the powers granted by this chapter
will be in all respects for:
(1) the benefit of the people of the state;
(2) the increase of their commerce and prosperity; and
(3) the improvement of their health and living conditions.
(b) As the operation and maintenance of toll road projects by the
authority will constitute the performance of essential governmental
functions, the authority shall not be required to pay any taxes or
assessments upon any toll road project or any property acquired or
used by the authority under the provisions of this chapter or upon the
income therefrom.
(c) The bonds issued under the provisions of this chapter, their
transfer, and the income therefrom (including any profit made on the
sale thereof) shall at all times be free from taxation within the state. (Formerly: Acts 1951, c.281, s.12.) As amended by Acts 1980,
P.L.74, SEC.238; P.L.109-1983, SEC.16.
IC 8-15-2-13 Trust agreements securing bond issue
Sec. 13. (a) In the discretion of the authority, any bonds issued
under the provisions of this chapter may be secured by a trust
agreement by and between the authority and a corporate trustee,
which may be any trust company or bank having the powers of a trust
company within or without the state.
(b) Any such trust agreement may pledge or assign the tolls and
other revenue to be received from such project or any other project
or projects constructed under the provisions of this chapter, subject
only to valid prior pledges and except as provided by this chapter
with respect to succeeding lien bonds, but shall not convey or
mortgage any toll road project or any part thereof.
(c) Any such trust agreement or any resolution providing for the
issuance of such bonds may contain such provisions for protecting
and enforcing the rights and remedies of the bondholders as may be
reasonable and proper and not in violation of law, including
covenants setting forth the duties of the authority in relation to:
(1) the acquisition of property and the construction,
improvement, maintenance, repair, operation, and insurance of
the toll road project or projects in connection with which such
bonds shall have been authorized, or of which the revenues are
pledged;
(2) the rates of toll to be charged, and the custody,
safeguarding, and application of all moneys; and
(3) the employment of consulting engineers in connection with
the construction or operation of such project or projects.
(d) It shall be lawful for any bank or trust company incorporated
under the laws of the state which may act as depository of the
proceeds of bonds or of revenue to furnish such indemnifying bonds
or to pledge such securities as may be required by the authority.
(e) Any such trust agreement may set forth the rights and remedies
of the bondholders and of the trustee, and may restrict the individual
right of action by bondholders as is customary in trust agreements or
trust indentures securing bonds or debentures of corporations. In
addition, any such trust agreement may contain such other provisions
as the authority may deem reasonable and proper for the security of
the bondholders.
(f) All expenses incurred in carrying out the provisions of any
such trust agreement may be treated as a part of the cost of the
operation of the toll road project or projects. (Formerly: Acts 1951, c.281, s.13; Acts 1971, P.L.99, SEC.3.) As
amended by Acts 1980, P.L.74, SECS.239, 240; P.L.109-1983,
SEC.17.
IC 8-15-2-14 Toll collection
Sec. 14. (a) The authority may:
(1) fix, revise, charge, and collect tolls for the use of each toll
road project by any person, partnership, association, limited
liability company, or corporation desiring the use of any part
thereof, including the right-of-way adjoining the paved portion
and for placing thereon telephone, telegraph, electric light, or
power lines;
(2) fix the terms, conditions, and rates of charge for such use,
including assessments for the failure to pay required tolls,
subject, however, to the state's police power; and
(3) collect tolls, user fees, or other charges through manual or
nonmanual methods, including, but not limited to, automatic
vehicle identification systems, electronic toll collection
systems, and, to the extent permitted by law, including rules
adopted by the authority under IC 8-15-2-17.2(a)(10), global
positioning systems and photo or video based toll collection or
toll collection enforcement systems.
(b) Notwithstanding subsection (a), no toll or charge shall be
made by the authority under this section or under a public-private
agreement entered into under IC 8-15.5 for:
(1) the operation of temporary lodging facilities located upon or
adjacent to any project, nor may the authority itself operate or
gratuitously permit the operation of such temporary lodging
facilities by other persons without any toll or charge; or
(2) placing in, on, along, over, or under such project, such
telephone, telegraph, electric light or power lines, equipment,
or facilities as may be necessary to serve establishments located
on the project or as may be necessary to interconnect any public
utility facilities on one (1) side of the toll road project with
those on the other side.
(c) All contracts executed by the authority shall be preserved in
the principal office of the authority.
(d) In the case of a toll road project that is not leased to the
department under IC 8-9.5-8-7, the tolls shall be fixed and adjusted
for each toll road project so that the aggregate of the tolls from the
project, together with other revenues that are available to the
authority without prior restriction or encumbrance, will at least be
adequate to pay:
(1) the cost of operating, maintaining, and repairing the toll
road project, including major repairs, replacements, and
improvements;
(2) the principal of and the interest on bonds issued in
connection with the toll road project, as the principal and
interest becomes due and payable, including any reserve or
sinking fund required for the project; and
(3) the payment of principal of and interest on toll road bonds
issued by the authority in connection with any other toll road
project, including any reserve or sinking fund required for the
project, but only to the extent that the authority provides by
resolution and subject to the provisions of any trust agreement
relating to the project.
(e) Not less than one (1) year before the date that final payment
of all such bonds, interest, and reimbursement is expected by the
chairman of the authority to be completed, the chairman shall notify
the state budget committee in writing of the expected date of final
payment.
(f) Such tolls shall not be subject to supervision or regulation by
any other commission, board, bureau, or agency of the state.
(g) The tolls, rents, and all other revenues derived by the authority
from the toll road project, except those received in accordance with
a public-private agreement under IC 8-15.5, shall be used as follows:
(1) To pay the cost of operating, maintaining, and repairing the
toll road project, including major repairs, replacements, and
improvements, to the extent that those costs are not paid out of
other funds.
(2) To the extent provided for in the resolution authorizing the
issuance of bonds under this chapter or in the trust agreement
securing the bonds, to pay:
(A) the principal of and interest on any bonds as the
principal and interest become due; or
(B) the redemption price or purchase price of the bonds
retired by call or purchase.
(3) Except as prohibited by the resolution authorizing the
issuance of bonds under this chapter or the trust agreement
securing them, for any purpose relating to any toll road project,
including the subject toll road project, as the authority provides
by resolution.
(h) Neither the resolution nor any trust agreement by which a
pledge is created needs to be filed or recorded except in the records
of the authority.
(i) The use and disposition of moneys to the credit of any sinking
fund shall be subject to the provisions of any resolution or
resolutions authorizing the issuance of any bonds or of any trust
agreement. Except as may otherwise be provided in this chapter or
in any resolution or any trust agreement, any sinking fund shall be a
fund for all bonds without distinction or priority of one over another,
subject, however, to such priorities as may arise from prior pledges.
(j) In the case of a toll road project that is leased to the department
under IC 8-9.5-8-8, the lease must require that the department fix
tolls for the toll road project that comply with IC 8-9.5-8-8(c)(6).
(k) User fees (as defined in IC 8-15.5-2-10) for a toll road project
that is subject to a public-private agreement under IC 8-15.5 shall be
set in accordance with IC 8-15.5-7. (Formerly: Acts 1951, c.281, s.14; Acts 1959, c.285, s.4; Acts 1971,
P.L.99, SEC.4.) As amended by Acts 1980, P.L.74, SECS.241, 242;
P.L.109-1983, SEC.18; P.L.386-1987(ss), SEC.11; P.L.8-1993,
SEC.145; P.L.47-2006, SEC.11.
IC 8-15-2-14.5 Tolls
Sec. 14.5. (a) Subject to the provisions and requirements of any
trust agreement providing for the issuance of toll road revenue bonds
and only to the extent permitted by such trust agreement, the
authority shall fix the tolls for any toll road under its jurisdiction.
(b) Subsection (a) does not apply to tolls fixed, authorized, or
established in accordance with a public-private agreement under
IC 8-15.5. (Formerly: Acts 1971, P.L.99, SEC.9.) As amended by Acts 1980,
P.L.74, SECS.243, 244; P.L.109-1983, SEC.19; P.L.214-2005,
SEC.52; P.L.47-2006, SEC.12.
IC 8-15-2-14.7 Appropriations to development authority
Sec. 14.7. (a) As used in this section, "development authority"
refers to the development authority established under IC 36-7.5-2-1.
(b) An appropriation made by the general assembly to the
development authority may be distributed to the development
authority only if all transfers required from cities and counties to the
development authority under IC 36-7.5-4-2 have been made.
(c) An appropriation made by the general assembly to the
development authority may be distributed to the development
authority only after:
(1) the budget committee has reviewed; and
(2) the director of the office of management and budget has
approved;
the comprehensive strategic development plan submitted in
accordance with IC 36-7.5-3-4.
(d) If the Indiana Toll Road is sold or leased before January 1,
2008 (other than a lease to the department), and the sale or lease
agreement does not require the purchaser or lessee to continue
making the distributions required by subsection (b), the treasurer of
state shall pay the amount, if any, appropriated by the general
assembly to the development authority fund established under
IC 36-7.5-4-1.
(e) Amounts distributed or paid to the development authority
under this section may be used for any purpose of the development
authorized under IC 36-7.5. As added by P.L.214-2005, SEC.53. Amended by P.L.47-2006,
SEC.13.
IC 8-15-2-15 Deposit of funds
Sec. 15. (a) All moneys received pursuant to the authority of this
chapter, whether as proceeds from the sale of bonds or as revenues,
shall be deemed to be trust funds, to be held and applied solely as
provided in this chapter. Such funds shall be kept in depositories as
selected by the authority and may be invested until expended, all as
provided by law.
(b) The resolution authorizing the issuance of bonds of any issue
or the trust agreement securing such bonds shall provide that any
officer to whom, or any bank or trust company to which, such
moneys shall be paid shall:
(1) act as trustee of such moneys; and
(2) hold and apply the same for the purposes of this chapter,
subject to such regulations as this chapter and such resolution
or trust agreement may provide.
(c) This section does not apply to money paid or received with
respect to a toll road project that is the subject of a public-private
agreement under IC 8-15.5.
(Formerly: Acts 1951, c.281, s.15.) As amended by Acts 1980,
P.L.74, SECS.245, 246; P.L.109-1983, SEC.20; P.L.47-2006,
SEC.14.
IC 8-15-2-16 Rights of bondholders
Sec. 16. Any holder of bonds issued under the provisions of this
chapter or any of the coupons appertaining thereto, and the trustee
under any trust agreement, except to the extent the rights granted by
this chapter may be restricted by any applicable trust agreement,
may:
(1) either at law or in equity, by suit, action, mandamus, or
other proceedings, protect and enforce any and all rights under
the laws of the state or granted by this chapter or under any
applicable trust agreement or the resolution authorizing the
issuance of such bonds; and
(2) enforce and compel the performance of all duties required
by this chapter or by any applicable trust agreement or
resolution to be performed by the authority or by any officer
thereof, including the fixing, charging, and collecting of tolls. (Formerly: Acts 1951, c.281, s.16; Acts 1971, P.L.99, SEC.5.) As
amended by Acts 1980, P.L.74, SEC.247; P.L.109-1983, SEC.21.
IC 8-15-2-17 Power to adopt rules and regulations
Sec. 17. The authority shall have power to adopt bylaws and,
under IC 4-22-2, rules and regulations as it may deem advisable for:
(1) the control and regulation of traffic on any toll road project;
(2) the protection and preservation of property under its
jurisdiction and control; and
(3) the maintenance and preservation of good order within the
property under its control.
However, such rules and regulations shall provide that public police
officers shall be afforded ready access, while in the performance of
their official duty, to all property under the jurisdiction of the
authority without the payment of tolls. (Formerly: Acts 1951, c.281, s.17.) As amended by Acts 1978, P.L.2,
SEC.855; Acts 1980, P.L.74, SEC.248; P.L.109-1983, SEC.22.
IC 8-15-2-17.1
Repealed
(Repealed by Acts 1980, P.L.74, SEC.434.)
IC 8-15-2-17.2 Scope of rules; violations; offenses; penalties
Sec. 17.2. (a) Notwithstanding IC 9, the authority may adopt
rules:
(1) Establishing weight and size limitations for vehicles using
a toll road project, subject to the following:
(A) The operator of any vehicle exceeding any of the
maximum allowable dimensions or weights as set out by the
authority in rules and regulations shall apply to the authority
in writing, for an application for a special hauling permit,
which application must be in compliance with all the terms
thereof, and which application must be received at least
seven (7) days prior to the time of permitted entry should
such permit be granted. Such permit, if granted, will be
returned to the applicant in duplicate, properly completed
and numbered, and the driver of the vehicle shall have a
copy to present to the toll attendant on duty at the point of
entry.
(B) The authority shall assess a fee for issuing a special
hauling permit. In assessing the fee, the authority shall take
into consideration the following factors:
&nb
IC 8-15-2
Chapter 2. Operation and Financing of Toll Roads
IC 8-15-2-1 Purpose; powers; applicability to the authority
Sec. 1. (a) In order to remove the handicaps and hazards on the
congested highways in Indiana, to facilitate vehicular traffic
throughout the state, to promote the agricultural and industrial
development of the state, and to provide for the general welfare by
the construction of modern express highways embodying safety
devices, including center division, ample shoulder widths, long sight
distances, multiple lanes in each direction, and grade separations at
intersections with other highways and railroads, the authority may:
(1) subject to subsection (d), construct, reconstruct, maintain,
repair, and operate toll road projects at such locations as shall
be approved by the governor;
(2) in accordance with such alignment and design standards as
shall be approved by the authority and subject to IC 8-9.5-8-10,
issue toll road revenue bonds of the state payable solely from
funds pledged for their payment, as authorized by this chapter,
to pay the cost of such projects;
(3) finance, develop, construct, reconstruct, improve, or
maintain improvements for manufacturing, commercial, or
public transportation activities within a county through which
a toll road passes;
(4) in cooperation with the Indiana department of transportation
or a political subdivision, construct, reconstruct, or finance the
construction or reconstruction of an arterial highway or an
arterial street that is located within a county through which a
toll road passes and that:
(A) interchanges with a toll road project; or
(B) intersects with a road or a street that interchanges with
a toll road project;
(5) finance improvements necessary for developing
transportation corridors in northwestern Indiana; and
(6) exercise these powers in participation with any
governmental entity or with any individual, partnership, limited
liability company, or corporation.
(b) Notwithstanding subsection (a), the authority shall not
construct, maintain, operate, nor contract for the construction,
maintenance, or operation of transient lodging facilities on, or
adjacent to, such toll road projects.
(c) This chapter:
(1) applies to the authority only when acting for the purposes
set forth in this chapter; and
(2) does not apply to the authority when acting under any other
statute for any other purpose.
(d) Notwithstanding any other law, neither the authority nor an
operator selected under IC 8-15.5 may carry out any of the following
activities under this chapter unless the general assembly enacts a
statute authorizing that activity:
(1) Carrying out construction for Interstate Highway 69 in a
township having a population of more than seventy-five
thousand (75,000) and less than ninety-three thousand five
hundred (93,500).
(2) Imposing tolls on motor vehicles for use of the part of an
interstate highway that connects a consolidated city and a city
having a population of more than eleven thousand five hundred
(11,500) but less than eleven thousand seven hundred forty
(11,740). (Formerly: Acts 1951, c.281, s.1; Acts 1959, c.285, s.1.) As amended
by Acts 1980, P.L.74, SECS.222, 223; P.L.109-1983, SEC.4;
P.L.48-1986, SEC.3; P.L.18-1990, SEC.128; P.L.8-1993, SEC.143;
P.L.89-1997, SEC.1; P.L.235-2005, SEC.115; P.L.214-2005,
SEC.51; P.L.47-2006, SEC.8; P.L.1-2006, SEC.156; P.L.1-2007,
SEC.80.
IC 8-15-2-1.1 Mandatory transfer of funds
Sec. 1.1. (a) A written agreement between the authority and a city,
town, or county under section 1 of this chapter, or a similar
government cooperative statute, may provide for a mandatory
transfer of funds by the auditor of state under this section if one (1)
of the parties becomes more than sixty (60) days late in making a
payment required by the agreement.
(b) To obtain a mandatory transfer of funds, the party to whom the
funds were to be paid under the terms of the written agreement must
certify in writing to the auditor of state:
(1) that a written agreement between the parties authorizes the
mandatory transfer of funds as provided in subsection (a);
(2) that the owing party was notified in writing of the amount
owed;
(3) that the payment is more than sixty (60) days past due;
(4) the names of the parties; and
(5) the amount of the payment due.
(c) Upon receipt of a certificate as specified in subsection (b), the
auditor of state shall:
(1) immediately notify the delinquent party of the claim; and
(2) if proof of payment is not furnished to the auditor of state
within thirty (30) days after the delinquent party has been
notified, transfer the unpaid amount from the delinquent party's
allocations from the motor vehicle highway account to the other
party.
(d) Transfers shall be made under subsection (c) until the unpaid
amount has been paid in full under the terms of the agreement.
However, the agreement may be amended if both the department and
the unit agree to amortize the transfer over a period of time not to
exceed five (5) years. As added by P.L.116-1989, SEC.2. IC 8-15-2-1.3 Procedures for allocation of money; considerations in prioritizing
and selecting projects
Sec. 1.3. (a) The authority shall establish a written procedure for
allocating money to projects described in section 1(a)(3) and 1(a)(4)
of this chapter.
(b) The procedure established under this section must include at
least the following:
(1) An application procedure to identify projects that qualify for
funding.
(2) Criteria for prioritizing projects.
(3) Procedures for selecting projects.
(4) Procedures for reporting the results of the selection process
and the status of projects to the commission on state tax and
financing policy.
(c) The prioritization and selection process under this section
must give consideration to the following:
(1) The impact of the project on toll road usage.
(2) Consistency of the project with local transportation plans.
(3) The extent to which the project will have local financial
participation relative to local available resources.
(4) The amount of vehicular traffic served.
(5) The potential local economic impact.
(6) Whether the project is deemed to be an emergency by the
applicant and the authority. As added by P.L.83-1996, SEC.2.
IC 8-15-2-2 Pledge state faith and credit
Sec. 2. (a) Toll road revenue bonds issued under the provisions of
this chapter:
(1) shall not be deemed to constitute a debt of the state or of any
political subdivision thereof or a pledge of the faith and credit
of the state or of any such political subdivision; and
(2) shall be payable soley from an allocation of money from the
rural transportation road fund under IC 8-9.5-8-16 or from the
funds pledged for their payment as authorized by this chapter,
unless such bonds are refunded by refunding bonds issued
under the provisions of this chapter, which refunding bonds
shall be payable solely from funds pledged for their payment as
authorized by this chapter.
(b) All such revenue bonds shall contain on the face thereof a
statement to the effect that the bonds, as to both principal and
interest, are not an obligation of the state of Indiana, or of any
political subdivision thereof, but are payable solely from funds
pledged for their payment, as authorized by this chapter.
(c) All expenses incurred in carrying out the provisions of this
chapter shall be payable solely from an allocation of money from the
rural transportation road fund under IC 8-9.5-8-16 or from funds
provided under this chapter and nothing contained in this chapter
shall be construed to authorize the authority to incur indebtedness or
liability on behalf of or payable by the state or any political
subdivision thereof. (Formerly: Acts 1951, c.281, s.2.) As amended by Acts 1980, P.L.74,
SECS.224, 225; P.L.109-1983, SEC.5; P.L.386-1987(ss), SEC.7.
IC 8-15-2-3
Repealed
(Repealed by P.L.109-1983, SEC.50.)
IC 8-15-2-4 Definitions
Sec. 4. As used in this chapter, the following words and terms
shall have the following meanings, unless the context shall indicate
another or different meaning or intent:
(1) "Authority" refers to the Indiana finance authority
established under IC 4-4-11.
(2) "Capitalized interest" means:
(A) interest costs on toll road revenue bonds before and
during the period of construction of the project for the
payment of the cost of which the bonds were issued, and for
one (1) year after completion of construction; and
(B) interest costs on succeeding lien bonds authorized by
this chapter for the period from the date of such bonds until
the date when the prior outstanding toll road revenue bonds,
for which revenues are pledged, are retired, but not later than
ten (10) years from the date of issue of the succeeding lien
bonds.
(3) "Department" refers to the Indiana department of
transportation.
(4) "Project" or "toll road project" means any new or existing
express highway, limited access facility, superhighway, or
motorway constructed under the provisions of this chapter or
accepted as a toll road under IC 8-23-7, including all bridges,
tunnels, overpasses, underpasses, interchanges, entrance plazas,
approaches, tollhouses, service stations, and administration,
storage, and other buildings and facilities which the authority
may deem necessary or desirable for the operation of the
project, together with all property, rights, easements, and
interests which may be acquired by the authority for the
construction or the operation of the project. "Project" or "toll
road project" includes any subsequent improvement,
betterment, enlargement, extension, or reconstruction of an
existing project. "Project" or "toll road project" also includes a
project connecting the state of Indiana with an adjacent state.
Each project or toll road project may be constructed or extended
in such sections as the authority may from time to time
determine, and shall be separately designated by name or
number, which designation shall also apply to any project which
is a subsequent improvement, betterment, enlargement,
extension, or reconstruction of such project. The construction,
maintenance, or operation, of transient lodging facilities on, or
adjacent to any such project, or the contracting therefor, shall
not be considered as within the definition of "project" or "toll
road project".
(5) "Cost" as applied to a toll road project or any part of a toll
road project includes:
(A) the cost of construction, including bridges over or under
existing highways and railroads;
(B) the cost of acquisition of all land, rights-of-way,
property, rights, easements, and interests acquired by the
authority for such construction;
(C) the cost of demolishing or removing any buildings or
structures on land so acquired, including the cost of
acquiring any lands to which such buildings or structures
may be moved;
(D) the cost of diverting highways, interchange of highways,
and access roads to private property, including the cost of
land or easements therefor;
(E) the cost of all machinery and equipment;
(F) financing charges and capitalized interest;
(G) the cost of funding any reserves to secure the payment
of toll road revenue bonds;
(H) the cost of traffic estimates and of engineering and legal
expenses, plans, specifications, surveys, estimates of cost
and revenues;
(I) other expenses necessary or incident to determining the
feasibility or practicability of constructing any such project;
(J) administrative expense;
(K) such other expenses as may be necessary or incident to
the construction of the project, the financing of such
construction, and the placing of the project in operation; and
(L) the cost of conversion to a toll road project of a state
highway or part of a highway accepted as a toll road project
under IC 8-23-7.
Any obligation or expense incurred by the department for
surveys, borings, preparation of plans and specifications, and
other engineering services in connection with the construction
of a project under this chapter or for the repayment of a grant
from a federal agency which the authority itself would be
authorized to repay under section 5(9) of this chapter in
connection with such project or with the issuance of bonds for
the payment of the cost of such project, shall be regarded as a
part of the cost of such project and shall be reimbursed to the
state out of the proceeds of toll road revenue bonds as
authorized.
(6) "Owner" includes all individuals, copartnerships,
associations, limited liability companies, or corporations having
any title or interest in any property, rights, easements, and
interests authorized to be acquired by this chapter.
(7) "Revenues" means all tolls, rentals, gifts, grants, money, and
all other funds and property coming into the possession or
under the control of the authority by virtue of the terms and
provisions of this chapter, except the proceeds from the sale of
bonds issued under the provisions of this chapter and earnings
thereon.
(8) "Public roads" includes all public highways, roads, and
streets in the state, whether maintained by the state, county,
city, township, or other political subdivision.
(9) "Transient lodging facility" means accommodations for
overnight or temporary habitation, including, but not limited to,
hotels, motels, motor courts, lodges, and inns, for persons using
any toll road project.
(10) "Toll road bonds" means all bonds issued under the
provisions of this chapter, including refunding bonds and
succeeding lien bonds.
(11) "State highway" means a public road for which the
department is responsible under IC 8-23-2. (Formerly: Acts 1951, c.281, s.4; Acts 1959, c.285, s.2.) As amended
by Acts 1980, P.L.74, SECS.226, 227; Acts 1981, P.L.41, SEC.52;
P.L.109-1983, SEC.6; P.L.386-1987(ss), SEC.8; P.L.68-1988,
SEC.13; P.L.18-1990, SEC.129; P.L.8-1993, SEC.144;
P.L.235-2005, SEC.116; P.L.85-2010, SEC.1.
IC 8-15-2-5 Powers
Sec. 5. The authority may do the following:
(1) Construct, maintain, repair, police, and operate toll road
projects (as defined in this chapter), public improvements, and
arterial streets and roads under section 1 of this chapter and
establish rules for the use of any such toll road project, public
improvement, or arterial street or road.
(2) Issue toll road revenue bonds of the state, payable solely
from an allocation of money from the rural transportation road
fund under IC 8-9.5-8-16 or from revenues or from the proceeds
of bonds issued under this chapter and earnings thereon, or from
all three (3), for the purpose of paying all or any part of the cost
of any one (1) or more toll road projects or for the purpose of
refunding any other toll road revenue bonds.
(3) Establish reserves from the proceeds of the sale of bonds or
from other funds, or both, to secure the payment of the bonds.
(4) Fix and revise from time to time and charge and collect tolls
for transit over each toll road project constructed by it.
(5) Acquire in the name of the state by purchase or otherwise,
on such terms and conditions and in such manner as it may
deem proper, or by the exercise of the right of condemnation in
the manner as provided by this chapter, such public or private
lands, including public parks, playgrounds or reservations, or
parts thereof or rights therein, rights-of-way, property, rights,
easements, and interests, as it may deem necessary for carrying
out the provisions of this chapter. The authority may also:
(A) sell, transfer, and convey any such land or any interest
therein so acquired, or any portion thereof, whether by
purchase, condemnation, or otherwise, and whether such
land or interest therein had been public or private, when the
same shall no longer be needed for such purposes; and
(B) transfer and convey any such lands or interest therein as
may be necessary or convenient for the construction and
operation of any toll road project, or as otherwise required
under the provisions of this chapter to a state agency or
political subdivision.
(6) Designate the locations and establish, limit, and control such
points of ingress to and egress from each toll road project as
may be necessary or desirable in the judgment of the authority
to ensure the proper operation and maintenance of such
projects, and to prohibit entrance to such project from any point
not so designated. The authority shall not grant, for the
operation of transient lodging facilities, either ingress to or
egress from any project, including the service areas thereof on
which are located service stations and restaurants, and including
toll plazas and paved portions of the right-of-way. The authority
shall cause to be erected, at its cost, at all points of ingress and
egress, large and suitable signs facing traffic from each
direction on the toll road. Such signs shall designate the number
and other designations, if any, of all United States or state
highways of ingress or egress, the names of all Indiana
municipalities with a population of five thousand (5,000) or
more within a distance of seventy-five (75) miles on such roads
of ingress or egress, and the distance in miles to such
designated municipalities.
(7) Make and enter into all contracts and agreements necessary
or incidental to the performance of its duties and the execution
of its powers under this chapter, IC 8-9.5-8, or IC 8-15.5. When
the cost under any such contract or agreement, other than:
(A) a contract for compensation for personal services;
(B) a contract with the department under IC 8-9.5-8-7;
(C) a lease with the department under IC 8-9.5-8-8; or
(D) a contract, a lease, or another agreement under
IC 8-15.5;
involves an expenditure of more than ten thousand dollars
($10,000), the authority shall make a written contract with the
lowest and best bidder after advertisement for not less than two
(2) consecutive weeks in a newspaper of general circulation in
Marion County, Indiana, and in such other publications as the
authority shall determine. Such notice shall state the general
character of the work and the general character of the materials
to be furnished, the place where plans and specifications
therefor may be examined, and the time and place of receiving
bids. Each bid shall contain the full name of every person or
company interested in it and shall be accompanied by a
sufficient bond or certified check on a solvent bank that if the
bid is accepted a contract will be entered into and the
performance of its proposal secured. The authority may reject
any and all bids. A bond with good and sufficient surety shall
be required by the authority of all contractors in an amount
equal to at least fifty percent (50%) of the contract price,
conditioned upon the faithful performance of the contract. The
authority shall require a bid, performance, and payment bond
from a contractor for a project if the estimated cost of the
project is more than two hundred thousand dollars ($200,000).
The authority may require a bid, performance, or payment bond
from a contractor for a project if the estimated cost of the
project is not more than two hundred thousand dollars
($200,000).
(8) Employ consulting engineers, superintendents, managers,
and such other engineers, construction and accounting experts,
bond counsel, other attorneys with the approval of the attorney
general, and other employees and agents as may be necessary in
its judgment to carry out the provisions of this chapter, and to
fix their compensation. However, all such expenses shall be
payable solely from the proceeds of toll road revenue bonds
issued under the provisions of this chapter or from revenues.
(9) Receive and accept from any federal agency, subject to
IC 8-23-3, grants for or in aid of the construction of any toll
road project, and receive and accept aid or contributions from
any source of either money, property, labor, or other things of
value, to be held, used, and applied only for the purposes for
which such grants and contributions may be made, and repay
any grant to the authority or to the department from a federal
agency if such repayment is necessary to free the authority from
restrictions which the authority determines to be in the public
interest to remove.
(10) Establish fees, charges, terms, or conditions for any
expenditures, loans, or other form of financial participation in
projects authorized as public improvements on arterial streets
and roads under section 1 of this chapter.
(11) Accept gifts, devises, bequests, grants, loans,
appropriations, revenue sharing, other financing and assistance,
and any other aid from any source and agree to and comply with
conditions attached to the aid.
(12) Accept transfer of a state highway to the authority under
IC 8-23-7-23 and pay the cost of conversion of the state
highway to a toll road project.
(13) Enter into contracts or leases with the department under
IC 8-9.5-8-7 or IC 8-9.5-8-8 and in connection with the
contracts or leases agree with the department for coordination
of the operation and the repair and maintenance of toll road
projects and tollways which are contiguous parts of the same
public road, including joint toll collection facilities and
equitable division of tolls.
(14) Enter into public-private agreements under IC 8-15.5 and
do all acts and things necessary or proper to carry out the
purposes set forth in IC 8-15.5.
(15) Do all acts and things necessary or proper to carry out this
chapter. (Formerly: Acts 1951, c.281, s.5; Acts 1957, c.273, s.1; Acts 1959,
c.285, s.3; Acts 1969, c.86, s.1.) As amended by Acts 1977, P.L.112,
SEC.1; Acts 1980, P.L.74, SECS.228, 229; Acts 1981, P.L.41,
SEC.53; Acts 1982, P.L.62, SEC.10; P.L.109-1983, SEC.7;
P.L.48-1986, SEC.4; P.L.386-1987(ss), SEC.9; P.L.18-1990,
SEC.130; P.L.47-2006, SEC.9; P.L.133-2007, SEC.9.
IC 8-15-2-5.2 Prohibition of sale, conveyance, or mortgage
Sec. 5.2. The authority may not sell, convey, or mortgage a toll
road project. As added by P.L.47-2006, SEC.10.
IC 8-15-2-5.5 Policing of toll roads
Sec. 5.5. (a) The authority may, if it determines to do so:
(1) employ its own police officers for the purpose of policing
any toll road under its jurisdiction;
(2) designate one (1) or more of such officers for the purpose of
policing any toll road under its jurisdiction; and
(3) designate one (1) of such officers as chief or superintendent.
(b) The police officers so employed by the authority are vested
with all necessary police powers to enforce the provisions of the laws
of the state of Indiana and without writ or warrant for violation
thereof when committed in their presence. To this end, police
officers employed by the authority shall be peace officers and shall
have within the property limits of the toll road project the same
powers with respect to the enforcement of laws as have sheriffs,
constables, and police officers in their respective jurisdictions. Any
warrant of arrest or search warrant issued by proper authority of the
state may be executed by any police officers employed by the
authority within the property limits of the toll road project.
(c) All uniformed police officers employed by the authority shall
carry arms, and nonuniformed police officers employed by the
authority may carry arms if in the performance of their duties. (Formerly: Acts 1971, P.L.99, SEC.8.) As amended by Acts 1981,
P.L.41, SEC.54; P.L.109-1983, SEC.8.
IC 8-15-2-6 Additional powers
Sec. 6. (a) The authority may:
(1) construct grade separations at intersections of any toll road
project with public roads, state highways, and railroads; and
(2) change and adjust the lines and grades of such public roads,
state highways, railroads, and public utility facilities.
The change and adjustment of lines and grades of public roads and
state highways is subject to the approval of the division of
government having jurisdiction of that road or highway. The cost of
such grade separation and any damage incurred in changing and
adjusting the lines and grades of such roads, highways, railroads, and
public utility facilities, shall be ascertained and paid by the authority
as a part of the cost of such toll road project.
(b) If the authority shall find it necessary to change the location
of any portion of any public road, state highway, railroad, or public
utility facility, it shall cause the same to be reconstructed at such
location as the division of government having jurisdiction over such
road, highway, railroad, or public utility facility shall deem most
favorable and of substantially the same type and in as good condition
as the original road, highway or railroad, or public utility facility.
The cost of such reconstruction, relocation, or removal and any
damage incurred in changing the location of any such road, highway,
railroad, or public utility facility shall be ascertained and paid by the
authority as a part of the cost of such toll road project.
(c) The authority shall have authority to petition, in the manner
prescribed in IC 36-7-3-12, the legislative body of the municipality
or of the county wherein is situated any public road or part thereof,
affected by the location therein of any toll road project, for the
vacation or relocation of such road or any part thereof.
(d) In addition, the authority and its authorized agents and
employees after proper notice may enter upon any lands, waters, and
premises in the state for the purpose of making surveys, soundings,
drillings, and examinations as are necessary or proper for the
purposes of this chapter, and such entry shall not be deemed a
trespass, nor shall an entry for such purposes be deemed an entry
under any condemnation proceedings which may be then pending.
However, before entering upon the premises of any railroad, notice
shall be given to the superintendent of such railroad involved, at least
five (5) days in advance of such entry, that survey, sounding, drilling,
and examination shall be made between the rails, or so close to a
railroad track as would render said track unusable. The authority
shall make reimbursement for any actual damage resulting to such
lands, waters, and premises and to private property located in, on,
along, over, or under such lands, waters, and premises as a result of
such activities. The state of Indiana, subject to the approval of the
governor, consents to the use of all lands owned by it, including
lands lying under water, which are necessary or proper for the
construction or operation of any toll road project, provided adequate
compensation is made for such use.
(e) The authority shall also have power to make reasonable
regulations for the installation, construction, maintenance, repair,
renewal, relocation, and removal of tracks, pipes, mains, conduits,
cables, wires, towers, poles, and other equipment and appliances
(referred to in this subsection as "public utility facilities") of any
public utility in, on, along, over, or under any toll road project.
Whenever the authority shall determine that it is necessary that any
such public utility facilities which are located in, on, along, over, or
under any such project should be relocated in such project, or should
be removed from such project, the public utility owning or operating
such facilities shall relocate or remove the same in accordance with
the order of the authority; however, the cost and expenses of such
relocation or removal, including the cost of installing such facilities
in a new location or new locations, and the cost of any lands, or any
rights or interests in lands, and any other rights, acquired to
accomplish such relocation or removal, shall be ascertained and paid
by the authority as a part of the cost of such project excepting cases
in which such equipment or facilities are located within the limits of
existing highways or public thoroughfares being constructed,
reconstructed, or improved under the provisions of this chapter. In
case of any such relocation or removal of facilities, the public utility
owning or operating the same, its successors or assigns, may
maintain and operate such facilities, with the necessary
appurtenances, in the new location or new locations for as long a
period, and upon the same terms and conditions, as it had the right to
maintain and operate such facilities in their former location or
locations subject, however, to the state's right of regulation under its
police powers. (Formerly: Acts 1951, c.281, s.6.) As amended by Acts 1980, P.L.74,
SEC.230; P.L.109-1983, SEC.9; P.L.5-1988, SEC.51.
IC 8-15-2-7 Powers to purchase
Sec. 7. The authority may:
(1) acquire by purchase, whenever it shall deem such purchase
expedient, any land, property, rights, rights-of-way, franchises,
easements, and other interests in lands as it may deem necessary
or convenient for the construction and operation of any toll road
project upon such terms and at such price as may be considered
by it to be reasonable and can be agreed upon between the
authority and the owner thereof, and to take title thereto in the
name of the state;
(2) sell, transfer, and convey any such land or any interest
therein so acquired, or any portion thereof, when the same shall
no longer be needed for such purposes; and
(3) transfer and convey any such lands or interests therein as
may be necessary or convenient for the construction and
operation of any toll road project, or as otherwise required
under this chapter. (Formerly: Acts 1951, c.281, s.7; Acts 1957, c.273, s.2.) As amended
by Acts 1980, P.L.74, SEC.231; P.L.109-1983, SEC.10.
IC 8-15-2-8 Powers to appropriate
Sec. 8. The authority may acquire by appropriation any land,
property, rights, rights-of-way, franchises, easements, or other
property necessary or proper for the construction or the efficient
operation of any toll road project in the manner provided by
IC 8-23-7. However, a compensation for the property so taken shall
first be made in money as provided by law. Nothing in this chapter
shall authorize the authority to take or disturb property or facilities
belonging to any public utility or to a common carrier engaged in
interstate commerce, which property or facilities are required for the
proper and convenient operation of the public utility or common
carrier, unless provision is made for the restoration, relocation, or
duplication of the property or facilities elsewhere at the sole cost of
the authority excepting, however, cases in which the equipment or
facilities are located within the limits of existing highways or public
thoroughfares being constructed, reconstructed, or improved under
the provisions of this chapter. (Formerly: Acts 1951, c.281, s.8.) As amended by Acts 1980, P.L.74,
SEC.232; P.L.109-1983, SEC.11; P.L.18-1990, SEC.131.
IC 8-15-2-9 Toll road revenue bonds
Sec. 9. (a) Subject to IC 8-9.5-8-10, the authority is authorized to
provide by a resolution at one (1) time or from time to time for the
issuance of toll road revenue bonds of the state for the purpose of
paying all or any part of the cost of any one (1) or more toll road
projects. The principal of and the interest on such bonds shall be
payable solely from an allocation of money from the rural
transportation road fund under IC 8-9.5-8-16 or from the revenues or
from the proceeds of bonds issued under the provisions of this
chapter and earnings thereon, or from all three (3).
(b) The bonds of each issue shall:
(1) be dated;
(2) bear interest at such rate or rates as shall be established by
the authority;
(3) mature at such time or times not exceeding forty (40) years
from their date or dates, as may be determined by the authority;
and
(4) be made redeemable before maturity at the option of the
authority at such price or prices and under such terms and
conditions as may be fixed by the authority prior to the issuance
of the bonds.
(c) The authority shall:
(1) determine the form of the bonds, including any interest
coupons to be attached thereto;
(2) fix the denomination or denominations of the bonds; and
(3) fix the place or places of payment of principal and interest,
which may be at any bank or trust company within or without
the state.
(d) The bonds shall be signed by the chairman of the authority or
by his facsimile signature, and attested to by the manual or the
facsimile signature of the public finance director, and any coupons
attached thereto shall bear the facsimile signature of the chairman of
the authority. In case any officer whose signature or a facsimile of
whose signature shall appear on any bonds or coupons shall cease to
be such officer before the delivery of such bonds, such signature or
such facsimile shall nevertheless be valid and sufficient for all
purposes the same as if he had remained in office until such delivery.
The authority may also provide for the authentication of the bonds by
a trustee or fiscal agent.
(e) All bonds issued under the provisions of this chapter shall
have and are declared to have all the qualities and incidents of
negotiable instruments under the negotiable instruments law of the
state of Indiana.
(f) The bonds may be issued in coupon or in registered form, or
both, as the authority may determine, and provisions may be made
for the registration of any coupon bonds as to principal alone and
also as to both principal and interest, and for the reconversion into
coupon bonds of any bonds registered as to both principal and
interest.
(g) The authority may sell such bonds in such manner and for
such price as it may determine to be for the best interests for the
state, either at a public or private sale.
(h) The proceeds of the bonds of each issue shall be:
(1) used solely for the payment of the cost of the toll road
project or projects for which such bonds shall have been issued;
and
(2) disbursed in such manner and under such restrictions, if any,
as the authority may provide in authorizing the issuance of such
bonds or in the trust agreement mentioned securing the same.
(i) If the proceeds of the bonds of any issue, by error of estimates
or otherwise, shall be less than such cost, additional bonds may in
like manner be issued to provide the amount of such deficit, and,
unless otherwise provided in the resolution authorizing the issuance
of such bonds or in the trust agreement securing the same, shall be
deemed to be of the same issue and shall be entitled to payment from
the same fund without preference or priority of the bonds first issued.
(j) If the proceeds of the bonds of any issue shall exceed the cost
of the toll road project or projects for which the same shall have been
issued, the surplus shall be deposited to the credit of the sinking fund
for such bonds.
(k) Prior to the preparation of definitive bonds, the authority may
under like restrictions, issue interim receipts or temporary bonds,
with or without coupons, exchangeable for definitive bonds when
such bonds shall have been executed and are available for delivery.
The authority may also provide for the replacement of any bonds
which shall become mutilated or shall be destroyed or lost.
(l) Except as provided by IC 8-9.5-8-10, bonds may be issued
under the provisions of this chapter without:
(1) obtaining the consent of any department, division,
commission, board, bureau, or agency of the state; and
(2) any other proceedings or the happening of any other
conditions or things than those proceedings, conditions, or
things which are specifically required by this chapter.
(Formerly: Acts 1951, c.281, s.9; Acts 1969, c.86, s.2; Acts 1971,
P.L.99, SEC.2.) As amended by Acts 1980, P.L.74, SECS.233, 234;
P.L.109-1983, SEC.12; P.L.386-1987(ss), SEC.10; P.L.5-1988,
SEC.52; P.L.162-2007, SEC.32.
IC 8-15-2-10 Toll road revenue refunding bonds
Sec. 10. (a) Subject to IC 8-9.5-8-10, the authority may provide
for the issuance of toll road revenue refunding bonds of the state
payable solely from the funds provided by this chapter for payment
for the purpose of:
(1) refunding any bonds then outstanding which shall have been
issued under the provisions of this chapter, including the
payment of any redemption premium thereon and any interest
accrued or to accrue to the date of redemption of such bonds;
and
(2) if deemed advisable by the authority, for the additional
purpose of constructing improvements, extensions, or
enlargements of the toll road project in connection with which
the bonds to be refunded shall have been issued.
(b) The issuance of such bonds, the maturities and other details
thereof, the rights of the holders thereof, and the rights, duties, and
obligations of the authority in respect of the same, shall be governed
by the provisions of this chapter insofar as the same may be
applicable. (Formerly: Acts 1951, c.281, s.10.) As amended by Acts 1980,
P.L.74, SECS.235, 236; P.L.109-1983, SEC.13.
IC 8-15-2-10.5 Toll road succeeding lien bonds
Sec. 10.5. (a) If at any time all revenues are pledged to secure the
payment of any toll road revenue bonds then outstanding, the
authority, rather than providing for the issuance of another series of
bonds equally secured by a pledge of such revenues or for immediate
refunding of such bonds, may as it considers it advisable, provide by
resolution for the issuance of toll road succeeding lien bonds of the
state for the purpose of paying all or any part of the cost of any one
(1) or more toll road projects, or for the present or future refunding
of part or all of the outstanding toll road revenue bonds, or for both
purposes.
(b) Notwithstanding any other provision of this chapter, revenues
shall not be considered to be pledged for the payment of such
succeeding lien bonds, including the interest thereon, so long as any
of such prior bonds are outstanding but, upon retirement of such
prior bonds, such revenues shall be subjected immediately to a
pledge securing the succeeding lien bonds by the terms of the trust
agreement under which such succeeding lien bonds are issued
without any further action by the authority.
(c) Succeeding lien bonds must provide that, pending payment of
all such prior outstanding bonds, interest on the succeeding lien
bonds shall be paid solely from the portion of the proceeds of the
succeeding lien bonds designated for the payment of capitalized
interest and from the earnings on such proceeds. After such prior
outstanding bonds have been redeemed or retired, the principal of,
premium, if any, and the interest on, the succeeding lien bonds shall
be payable solely from the revenues and other funds pledged for such
payment.
(d) The issuance and sale of succeeding lien bonds, the maturities
and other details thereof, the rights of the holders thereof, and the
rights, duties and obligations of the authority with respect thereto,
shall be governed by the provisions of this chapter insofar as the
same may be applicable, and the authority need not comply with the
requirements of any other law applicable to the issuance of bonds
other than as set forth in this chapter. As added by Acts 1980, P.L.74, SEC.237. Amended by Acts 1981,
P.L.41, SEC.55; P.L.109-1983, SEC.14.
IC 8-15-2-11 Journal of authority
Sec. 11. All final actions of the authority shall be journalized, and
the journal shall be open to the inspection of the public at all
reasonable times. (Formerly: Acts 1951, c.281, s.11.) As amended by P.L.109-1983,
SEC.15.
IC 8-15-2-12 Taxation
Sec. 12. (a) The exercise of the powers granted by this chapter
will be in all respects for:
(1) the benefit of the people of the state;
(2) the increase of their commerce and prosperity; and
(3) the improvement of their health and living conditions.
(b) As the operation and maintenance of toll road projects by the
authority will constitute the performance of essential governmental
functions, the authority shall not be required to pay any taxes or
assessments upon any toll road project or any property acquired or
used by the authority under the provisions of this chapter or upon the
income therefrom.
(c) The bonds issued under the provisions of this chapter, their
transfer, and the income therefrom (including any profit made on the
sale thereof) shall at all times be free from taxation within the state. (Formerly: Acts 1951, c.281, s.12.) As amended by Acts 1980,
P.L.74, SEC.238; P.L.109-1983, SEC.16.
IC 8-15-2-13 Trust agreements securing bond issue
Sec. 13. (a) In the discretion of the authority, any bonds issued
under the provisions of this chapter may be secured by a trust
agreement by and between the authority and a corporate trustee,
which may be any trust company or bank having the powers of a trust
company within or without the state.
(b) Any such trust agreement may pledge or assign the tolls and
other revenue to be received from such project or any other project
or projects constructed under the provisions of this chapter, subject
only to valid prior pledges and except as provided by this chapter
with respect to succeeding lien bonds, but shall not convey or
mortgage any toll road project or any part thereof.
(c) Any such trust agreement or any resolution providing for the
issuance of such bonds may contain such provisions for protecting
and enforcing the rights and remedies of the bondholders as may be
reasonable and proper and not in violation of law, including
covenants setting forth the duties of the authority in relation to:
(1) the acquisition of property and the construction,
improvement, maintenance, repair, operation, and insurance of
the toll road project or projects in connection with which such
bonds shall have been authorized, or of which the revenues are
pledged;
(2) the rates of toll to be charged, and the custody,
safeguarding, and application of all moneys; and
(3) the employment of consulting engineers in connection with
the construction or operation of such project or projects.
(d) It shall be lawful for any bank or trust company incorporated
under the laws of the state which may act as depository of the
proceeds of bonds or of revenue to furnish such indemnifying bonds
or to pledge such securities as may be required by the authority.
(e) Any such trust agreement may set forth the rights and remedies
of the bondholders and of the trustee, and may restrict the individual
right of action by bondholders as is customary in trust agreements or
trust indentures securing bonds or debentures of corporations. In
addition, any such trust agreement may contain such other provisions
as the authority may deem reasonable and proper for the security of
the bondholders.
(f) All expenses incurred in carrying out the provisions of any
such trust agreement may be treated as a part of the cost of the
operation of the toll road project or projects. (Formerly: Acts 1951, c.281, s.13; Acts 1971, P.L.99, SEC.3.) As
amended by Acts 1980, P.L.74, SECS.239, 240; P.L.109-1983,
SEC.17.
IC 8-15-2-14 Toll collection
Sec. 14. (a) The authority may:
(1) fix, revise, charge, and collect tolls for the use of each toll
road project by any person, partnership, association, limited
liability company, or corporation desiring the use of any part
thereof, including the right-of-way adjoining the paved portion
and for placing thereon telephone, telegraph, electric light, or
power lines;
(2) fix the terms, conditions, and rates of charge for such use,
including assessments for the failure to pay required tolls,
subject, however, to the state's police power; and
(3) collect tolls, user fees, or other charges through manual or
nonmanual methods, including, but not limited to, automatic
vehicle identification systems, electronic toll collection
systems, and, to the extent permitted by law, including rules
adopted by the authority under IC 8-15-2-17.2(a)(10), global
positioning systems and photo or video based toll collection or
toll collection enforcement systems.
(b) Notwithstanding subsection (a), no toll or charge shall be
made by the authority under this section or under a public-private
agreement entered into under IC 8-15.5 for:
(1) the operation of temporary lodging facilities located upon or
adjacent to any project, nor may the authority itself operate or
gratuitously permit the operation of such temporary lodging
facilities by other persons without any toll or charge; or
(2) placing in, on, along, over, or under such project, such
telephone, telegraph, electric light or power lines, equipment,
or facilities as may be necessary to serve establishments located
on the project or as may be necessary to interconnect any public
utility facilities on one (1) side of the toll road project with
those on the other side.
(c) All contracts executed by the authority shall be preserved in
the principal office of the authority.
(d) In the case of a toll road project that is not leased to the
department under IC 8-9.5-8-7, the tolls shall be fixed and adjusted
for each toll road project so that the aggregate of the tolls from the
project, together with other revenues that are available to the
authority without prior restriction or encumbrance, will at least be
adequate to pay:
(1) the cost of operating, maintaining, and repairing the toll
road project, including major repairs, replacements, and
improvements;
(2) the principal of and the interest on bonds issued in
connection with the toll road project, as the principal and
interest becomes due and payable, including any reserve or
sinking fund required for the project; and
(3) the payment of principal of and interest on toll road bonds
issued by the authority in connection with any other toll road
project, including any reserve or sinking fund required for the
project, but only to the extent that the authority provides by
resolution and subject to the provisions of any trust agreement
relating to the project.
(e) Not less than one (1) year before the date that final payment
of all such bonds, interest, and reimbursement is expected by the
chairman of the authority to be completed, the chairman shall notify
the state budget committee in writing of the expected date of final
payment.
(f) Such tolls shall not be subject to supervision or regulation by
any other commission, board, bureau, or agency of the state.
(g) The tolls, rents, and all other revenues derived by the authority
from the toll road project, except those received in accordance with
a public-private agreement under IC 8-15.5, shall be used as follows:
(1) To pay the cost of operating, maintaining, and repairing the
toll road project, including major repairs, replacements, and
improvements, to the extent that those costs are not paid out of
other funds.
(2) To the extent provided for in the resolution authorizing the
issuance of bonds under this chapter or in the trust agreement
securing the bonds, to pay:
(A) the principal of and interest on any bonds as the
principal and interest become due; or
(B) the redemption price or purchase price of the bonds
retired by call or purchase.
(3) Except as prohibited by the resolution authorizing the
issuance of bonds under this chapter or the trust agreement
securing them, for any purpose relating to any toll road project,
including the subject toll road project, as the authority provides
by resolution.
(h) Neither the resolution nor any trust agreement by which a
pledge is created needs to be filed or recorded except in the records
of the authority.
(i) The use and disposition of moneys to the credit of any sinking
fund shall be subject to the provisions of any resolution or
resolutions authorizing the issuance of any bonds or of any trust
agreement. Except as may otherwise be provided in this chapter or
in any resolution or any trust agreement, any sinking fund shall be a
fund for all bonds without distinction or priority of one over another,
subject, however, to such priorities as may arise from prior pledges.
(j) In the case of a toll road project that is leased to the department
under IC 8-9.5-8-8, the lease must require that the department fix
tolls for the toll road project that comply with IC 8-9.5-8-8(c)(6).
(k) User fees (as defined in IC 8-15.5-2-10) for a toll road project
that is subject to a public-private agreement under IC 8-15.5 shall be
set in accordance with IC 8-15.5-7. (Formerly: Acts 1951, c.281, s.14; Acts 1959, c.285, s.4; Acts 1971,
P.L.99, SEC.4.) As amended by Acts 1980, P.L.74, SECS.241, 242;
P.L.109-1983, SEC.18; P.L.386-1987(ss), SEC.11; P.L.8-1993,
SEC.145; P.L.47-2006, SEC.11.
IC 8-15-2-14.5 Tolls
Sec. 14.5. (a) Subject to the provisions and requirements of any
trust agreement providing for the issuance of toll road revenue bonds
and only to the extent permitted by such trust agreement, the
authority shall fix the tolls for any toll road under its jurisdiction.
(b) Subsection (a) does not apply to tolls fixed, authorized, or
established in accordance with a public-private agreement under
IC 8-15.5. (Formerly: Acts 1971, P.L.99, SEC.9.) As amended by Acts 1980,
P.L.74, SECS.243, 244; P.L.109-1983, SEC.19; P.L.214-2005,
SEC.52; P.L.47-2006, SEC.12.
IC 8-15-2-14.7 Appropriations to development authority
Sec. 14.7. (a) As used in this section, "development authority"
refers to the development authority established under IC 36-7.5-2-1.
(b) An appropriation made by the general assembly to the
development authority may be distributed to the development
authority only if all transfers required from cities and counties to the
development authority under IC 36-7.5-4-2 have been made.
(c) An appropriation made by the general assembly to the
development authority may be distributed to the development
authority only after:
(1) the budget committee has reviewed; and
(2) the director of the office of management and budget has
approved;
the comprehensive strategic development plan submitted in
accordance with IC 36-7.5-3-4.
(d) If the Indiana Toll Road is sold or leased before January 1,
2008 (other than a lease to the department), and the sale or lease
agreement does not require the purchaser or lessee to continue
making the distributions required by subsection (b), the treasurer of
state shall pay the amount, if any, appropriated by the general
assembly to the development authority fund established under
IC 36-7.5-4-1.
(e) Amounts distributed or paid to the development authority
under this section may be used for any purpose of the development
authorized under IC 36-7.5. As added by P.L.214-2005, SEC.53. Amended by P.L.47-2006,
SEC.13.
IC 8-15-2-15 Deposit of funds
Sec. 15. (a) All moneys received pursuant to the authority of this
chapter, whether as proceeds from the sale of bonds or as revenues,
shall be deemed to be trust funds, to be held and applied solely as
provided in this chapter. Such funds shall be kept in depositories as
selected by the authority and may be invested until expended, all as
provided by law.
(b) The resolution authorizing the issuance of bonds of any issue
or the trust agreement securing such bonds shall provide that any
officer to whom, or any bank or trust company to which, such
moneys shall be paid shall:
(1) act as trustee of such moneys; and
(2) hold and apply the same for the purposes of this chapter,
subject to such regulations as this chapter and such resolution
or trust agreement may provide.
(c) This section does not apply to money paid or received with
respect to a toll road project that is the subject of a public-private
agreement under IC 8-15.5.
(Formerly: Acts 1951, c.281, s.15.) As amended by Acts 1980,
P.L.74, SECS.245, 246; P.L.109-1983, SEC.20; P.L.47-2006,
SEC.14.
IC 8-15-2-16 Rights of bondholders
Sec. 16. Any holder of bonds issued under the provisions of this
chapter or any of the coupons appertaining thereto, and the trustee
under any trust agreement, except to the extent the rights granted by
this chapter may be restricted by any applicable trust agreement,
may:
(1) either at law or in equity, by suit, action, mandamus, or
other proceedings, protect and enforce any and all rights under
the laws of the state or granted by this chapter or under any
applicable trust agreement or the resolution authorizing the
issuance of such bonds; and
(2) enforce and compel the performance of all duties required
by this chapter or by any applicable trust agreement or
resolution to be performed by the authority or by any officer
thereof, including the fixing, charging, and collecting of tolls. (Formerly: Acts 1951, c.281, s.16; Acts 1971, P.L.99, SEC.5.) As
amended by Acts 1980, P.L.74, SEC.247; P.L.109-1983, SEC.21.
IC 8-15-2-17 Power to adopt rules and regulations
Sec. 17. The authority shall have power to adopt bylaws and,
under IC 4-22-2, rules and regulations as it may deem advisable for:
(1) the control and regulation of traffic on any toll road project;
(2) the protection and preservation of property under its
jurisdiction and control; and
(3) the maintenance and preservation of good order within the
property under its control.
However, such rules and regulations shall provide that public police
officers shall be afforded ready access, while in the performance of
their official duty, to all property under the jurisdiction of the
authority without the payment of tolls. (Formerly: Acts 1951, c.281, s.17.) As amended by Acts 1978, P.L.2,
SEC.855; Acts 1980, P.L.74, SEC.248; P.L.109-1983, SEC.22.
IC 8-15-2-17.1
Repealed
(Repealed by Acts 1980, P.L.74, SEC.434.)
IC 8-15-2-17.2 Scope of rules; violations; offenses; penalties
Sec. 17.2. (a) Notwithstanding IC 9, the authority may adopt
rules:
(1) Establishing weight and size limitations for vehicles using
a toll road project, subject to the following:
(A) The operator of any vehicle exceeding any of the
maximum allowable dimensions or weights as set out by the
authority in rules and regulations shall apply to the authority
in writing, for an application for a special hauling permit,
which application must be in compliance with all the terms
thereof, and which application must be received at least
seven (7) days prior to the time of permitted entry should
such permit be granted. Such permit, if granted, will be
returned to the applicant in duplicate, properly completed
and numbered, and the driver of the vehicle shall have a
copy to present to the toll attendant on duty at the point of
entry.
(B) The authority shall assess a fee for issuing a special
hauling permit. In assessing the fee, the authority shall take
into consideration the following factors:
&nb
IC 8-15-2
Chapter 2. Operation and Financing of Toll Roads
IC 8-15-2-1 Purpose; powers; applicability to the authority
Sec. 1. (a) In order to remove the handicaps and hazards on the
congested highways in Indiana, to facilitate vehicular traffic
throughout the state, to promote the agricultural and industrial
development of the state, and to provide for the general welfare by
the construction of modern express highways embodying safety
devices, including center division, ample shoulder widths, long sight
distances, multiple lanes in each direction, and grade separations at
intersections with other highways and railroads, the authority may:
(1) subject to subsection (d), construct, reconstruct, maintain,
repair, and operate toll road projects at such locations as shall
be approved by the governor;
(2) in accordance with such alignment and design standards as
shall be approved by the authority and subject to IC 8-9.5-8-10,
issue toll road revenue bonds of the state payable solely from
funds pledged for their payment, as authorized by this chapter,
to pay the cost of such projects;
(3) finance, develop, construct, reconstruct, improve, or
maintain improvements for manufacturing, commercial, or
public transportation activities within a county through which
a toll road passes;
(4) in cooperation with the Indiana department of transportation
or a political subdivision, construct, reconstruct, or finance the
construction or reconstruction of an arterial highway or an
arterial street that is located within a county through which a
toll road passes and that:
(A) interchanges with a toll road project; or
(B) intersects with a road or a street that interchanges with
a toll road project;
(5) finance improvements necessary for developing
transportation corridors in northwestern Indiana; and
(6) exercise these powers in participation with any
governmental entity or with any individual, partnership, limited
liability company, or corporation.
(b) Notwithstanding subsection (a), the authority shall not
construct, maintain, operate, nor contract for the construction,
maintenance, or operation of transient lodging facilities on, or
adjacent to, such toll road projects.
(c) This chapter:
(1) applies to the authority only when acting for the purposes
set forth in this chapter; and
(2) does not apply to the authority when acting under any other
statute for any other purpose.
(d) Notwithstanding any other law, neither the authority nor an
operator selected under IC 8-15.5 may carry out any of the following
activities under this chapter unless the general assembly enacts a
statute authorizing that activity:
(1) Carrying out construction for Interstate Highway 69 in a
township having a population of more than seventy-five
thousand (75,000) and less than ninety-three thousand five
hundred (93,500).
(2) Imposing tolls on motor vehicles for use of the part of an
interstate highway that connects a consolidated city and a city
having a population of more than eleven thousand five hundred
(11,500) but less than eleven thousand seven hundred forty
(11,740). (Formerly: Acts 1951, c.281, s.1; Acts 1959, c.285, s.1.) As amended
by Acts 1980, P.L.74, SECS.222, 223; P.L.109-1983, SEC.4;
P.L.48-1986, SEC.3; P.L.18-1990, SEC.128; P.L.8-1993, SEC.143;
P.L.89-1997, SEC.1; P.L.235-2005, SEC.115; P.L.214-2005,
SEC.51; P.L.47-2006, SEC.8; P.L.1-2006, SEC.156; P.L.1-2007,
SEC.80.
IC 8-15-2-1.1 Mandatory transfer of funds
Sec. 1.1. (a) A written agreement between the authority and a city,
town, or county under section 1 of this chapter, or a similar
government cooperative statute, may provide for a mandatory
transfer of funds by the auditor of state under this section if one (1)
of the parties becomes more than sixty (60) days late in making a
payment required by the agreement.
(b) To obtain a mandatory transfer of funds, the party to whom the
funds were to be paid under the terms of the written agreement must
certify in writing to the auditor of state:
(1) that a written agreement between the parties authorizes the
mandatory transfer of funds as provided in subsection (a);
(2) that the owing party was notified in writing of the amount
owed;
(3) that the payment is more than sixty (60) days past due;
(4) the names of the parties; and
(5) the amount of the payment due.
(c) Upon receipt of a certificate as specified in subsection (b), the
auditor of state shall:
(1) immediately notify the delinquent party of the claim; and
(2) if proof of payment is not furnished to the auditor of state
within thirty (30) days after the delinquent party has been
notified, transfer the unpaid amount from the delinquent party's
allocations from the motor vehicle highway account to the other
party.
(d) Transfers shall be made under subsection (c) until the unpaid
amount has been paid in full under the terms of the agreement.
However, the agreement may be amended if both the department and
the unit agree to amortize the transfer over a period of time not to
exceed five (5) years. As added by P.L.116-1989, SEC.2. IC 8-15-2-1.3 Procedures for allocation of money; considerations in prioritizing
and selecting projects
Sec. 1.3. (a) The authority shall establish a written procedure for
allocating money to projects described in section 1(a)(3) and 1(a)(4)
of this chapter.
(b) The procedure established under this section must include at
least the following:
(1) An application procedure to identify projects that qualify for
funding.
(2) Criteria for prioritizing projects.
(3) Procedures for selecting projects.
(4) Procedures for reporting the results of the selection process
and the status of projects to the commission on state tax and
financing policy.
(c) The prioritization and selection process under this section
must give consideration to the following:
(1) The impact of the project on toll road usage.
(2) Consistency of the project with local transportation plans.
(3) The extent to which the project will have local financial
participation relative to local available resources.
(4) The amount of vehicular traffic served.
(5) The potential local economic impact.
(6) Whether the project is deemed to be an emergency by the
applicant and the authority. As added by P.L.83-1996, SEC.2.
IC 8-15-2-2 Pledge state faith and credit
Sec. 2. (a) Toll road revenue bonds issued under the provisions of
this chapter:
(1) shall not be deemed to constitute a debt of the state or of any
political subdivision thereof or a pledge of the faith and credit
of the state or of any such political subdivision; and
(2) shall be payable soley from an allocation of money from the
rural transportation road fund under IC 8-9.5-8-16 or from the
funds pledged for their payment as authorized by this chapter,
unless such bonds are refunded by refunding bonds issued
under the provisions of this chapter, which refunding bonds
shall be payable solely from funds pledged for their payment as
authorized by this chapter.
(b) All such revenue bonds shall contain on the face thereof a
statement to the effect that the bonds, as to both principal and
interest, are not an obligation of the state of Indiana, or of any
political subdivision thereof, but are payable solely from funds
pledged for their payment, as authorized by this chapter.
(c) All expenses incurred in carrying out the provisions of this
chapter shall be payable solely from an allocation of money from the
rural transportation road fund under IC 8-9.5-8-16 or from funds
provided under this chapter and nothing contained in this chapter
shall be construed to authorize the authority to incur indebtedness or
liability on behalf of or payable by the state or any political
subdivision thereof. (Formerly: Acts 1951, c.281, s.2.) As amended by Acts 1980, P.L.74,
SECS.224, 225; P.L.109-1983, SEC.5; P.L.386-1987(ss), SEC.7.
IC 8-15-2-3
Repealed
(Repealed by P.L.109-1983, SEC.50.)
IC 8-15-2-4 Definitions
Sec. 4. As used in this chapter, the following words and terms
shall have the following meanings, unless the context shall indicate
another or different meaning or intent:
(1) "Authority" refers to the Indiana finance authority
established under IC 4-4-11.
(2) "Capitalized interest" means:
(A) interest costs on toll road revenue bonds before and
during the period of construction of the project for the
payment of the cost of which the bonds were issued, and for
one (1) year after completion of construction; and
(B) interest costs on succeeding lien bonds authorized by
this chapter for the period from the date of such bonds until
the date when the prior outstanding toll road revenue bonds,
for which revenues are pledged, are retired, but not later than
ten (10) years from the date of issue of the succeeding lien
bonds.
(3) "Department" refers to the Indiana department of
transportation.
(4) "Project" or "toll road project" means any new or existing
express highway, limited access facility, superhighway, or
motorway constructed under the provisions of this chapter or
accepted as a toll road under IC 8-23-7, including all bridges,
tunnels, overpasses, underpasses, interchanges, entrance plazas,
approaches, tollhouses, service stations, and administration,
storage, and other buildings and facilities which the authority
may deem necessary or desirable for the operation of the
project, together with all property, rights, easements, and
interests which may be acquired by the authority for the
construction or the operation of the project. "Project" or "toll
road project" includes any subsequent improvement,
betterment, enlargement, extension, or reconstruction of an
existing project. "Project" or "toll road project" also includes a
project connecting the state of Indiana with an adjacent state.
Each project or toll road project may be constructed or extended
in such sections as the authority may from time to time
determine, and shall be separately designated by name or
number, which designation shall also apply to any project which
is a subsequent improvement, betterment, enlargement,
extension, or reconstruction of such project. The construction,
maintenance, or operation, of transient lodging facilities on, or
adjacent to any such project, or the contracting therefor, shall
not be considered as within the definition of "project" or "toll
road project".
(5) "Cost" as applied to a toll road project or any part of a toll
road project includes:
(A) the cost of construction, including bridges over or under
existing highways and railroads;
(B) the cost of acquisition of all land, rights-of-way,
property, rights, easements, and interests acquired by the
authority for such construction;
(C) the cost of demolishing or removing any buildings or
structures on land so acquired, including the cost of
acquiring any lands to which such buildings or structures
may be moved;
(D) the cost of diverting highways, interchange of highways,
and access roads to private property, including the cost of
land or easements therefor;
(E) the cost of all machinery and equipment;
(F) financing charges and capitalized interest;
(G) the cost of funding any reserves to secure the payment
of toll road revenue bonds;
(H) the cost of traffic estimates and of engineering and legal
expenses, plans, specifications, surveys, estimates of cost
and revenues;
(I) other expenses necessary or incident to determining the
feasibility or practicability of constructing any such project;
(J) administrative expense;
(K) such other expenses as may be necessary or incident to
the construction of the project, the financing of such
construction, and the placing of the project in operation; and
(L) the cost of conversion to a toll road project of a state
highway or part of a highway accepted as a toll road project
under IC 8-23-7.
Any obligation or expense incurred by the department for
surveys, borings, preparation of plans and specifications, and
other engineering services in connection with the construction
of a project under this chapter or for the repayment of a grant
from a federal agency which the authority itself would be
authorized to repay under section 5(9) of this chapter in
connection with such project or with the issuance of bonds for
the payment of the cost of such project, shall be regarded as a
part of the cost of such project and shall be reimbursed to the
state out of the proceeds of toll road revenue bonds as
authorized.
(6) "Owner" includes all individuals, copartnerships,
associations, limited liability companies, or corporations having
any title or interest in any property, rights, easements, and
interests authorized to be acquired by this chapter.
(7) "Revenues" means all tolls, rentals, gifts, grants, money, and
all other funds and property coming into the possession or
under the control of the authority by virtue of the terms and
provisions of this chapter, except the proceeds from the sale of
bonds issued under the provisions of this chapter and earnings
thereon.
(8) "Public roads" includes all public highways, roads, and
streets in the state, whether maintained by the state, county,
city, township, or other political subdivision.
(9) "Transient lodging facility" means accommodations for
overnight or temporary habitation, including, but not limited to,
hotels, motels, motor courts, lodges, and inns, for persons using
any toll road project.
(10) "Toll road bonds" means all bonds issued under the
provisions of this chapter, including refunding bonds and
succeeding lien bonds.
(11) "State highway" means a public road for which the
department is responsible under IC 8-23-2. (Formerly: Acts 1951, c.281, s.4; Acts 1959, c.285, s.2.) As amended
by Acts 1980, P.L.74, SECS.226, 227; Acts 1981, P.L.41, SEC.52;
P.L.109-1983, SEC.6; P.L.386-1987(ss), SEC.8; P.L.68-1988,
SEC.13; P.L.18-1990, SEC.129; P.L.8-1993, SEC.144;
P.L.235-2005, SEC.116; P.L.85-2010, SEC.1.
IC 8-15-2-5 Powers
Sec. 5. The authority may do the following:
(1) Construct, maintain, repair, police, and operate toll road
projects (as defined in this chapter), public improvements, and
arterial streets and roads under section 1 of this chapter and
establish rules for the use of any such toll road project, public
improvement, or arterial street or road.
(2) Issue toll road revenue bonds of the state, payable solely
from an allocation of money from the rural transportation road
fund under IC 8-9.5-8-16 or from revenues or from the proceeds
of bonds issued under this chapter and earnings thereon, or from
all three (3), for the purpose of paying all or any part of the cost
of any one (1) or more toll road projects or for the purpose of
refunding any other toll road revenue bonds.
(3) Establish reserves from the proceeds of the sale of bonds or
from other funds, or both, to secure the payment of the bonds.
(4) Fix and revise from time to time and charge and collect tolls
for transit over each toll road project constructed by it.
(5) Acquire in the name of the state by purchase or otherwise,
on such terms and conditions and in such manner as it may
deem proper, or by the exercise of the right of condemnation in
the manner as provided by this chapter, such public or private
lands, including public parks, playgrounds or reservations, or
parts thereof or rights therein, rights-of-way, property, rights,
easements, and interests, as it may deem necessary for carrying
out the provisions of this chapter. The authority may also:
(A) sell, transfer, and convey any such land or any interest
therein so acquired, or any portion thereof, whether by
purchase, condemnation, or otherwise, and whether such
land or interest therein had been public or private, when the
same shall no longer be needed for such purposes; and
(B) transfer and convey any such lands or interest therein as
may be necessary or convenient for the construction and
operation of any toll road project, or as otherwise required
under the provisions of this chapter to a state agency or
political subdivision.
(6) Designate the locations and establish, limit, and control such
points of ingress to and egress from each toll road project as
may be necessary or desirable in the judgment of the authority
to ensure the proper operation and maintenance of such
projects, and to prohibit entrance to such project from any point
not so designated. The authority shall not grant, for the
operation of transient lodging facilities, either ingress to or
egress from any project, including the service areas thereof on
which are located service stations and restaurants, and including
toll plazas and paved portions of the right-of-way. The authority
shall cause to be erected, at its cost, at all points of ingress and
egress, large and suitable signs facing traffic from each
direction on the toll road. Such signs shall designate the number
and other designations, if any, of all United States or state
highways of ingress or egress, the names of all Indiana
municipalities with a population of five thousand (5,000) or
more within a distance of seventy-five (75) miles on such roads
of ingress or egress, and the distance in miles to such
designated municipalities.
(7) Make and enter into all contracts and agreements necessary
or incidental to the performance of its duties and the execution
of its powers under this chapter, IC 8-9.5-8, or IC 8-15.5. When
the cost under any such contract or agreement, other than:
(A) a contract for compensation for personal services;
(B) a contract with the department under IC 8-9.5-8-7;
(C) a lease with the department under IC 8-9.5-8-8; or
(D) a contract, a lease, or another agreement under
IC 8-15.5;
involves an expenditure of more than ten thousand dollars
($10,000), the authority shall make a written contract with the
lowest and best bidder after advertisement for not less than two
(2) consecutive weeks in a newspaper of general circulation in
Marion County, Indiana, and in such other publications as the
authority shall determine. Such notice shall state the general
character of the work and the general character of the materials
to be furnished, the place where plans and specifications
therefor may be examined, and the time and place of receiving
bids. Each bid shall contain the full name of every person or
company interested in it and shall be accompanied by a
sufficient bond or certified check on a solvent bank that if the
bid is accepted a contract will be entered into and the
performance of its proposal secured. The authority may reject
any and all bids. A bond with good and sufficient surety shall
be required by the authority of all contractors in an amount
equal to at least fifty percent (50%) of the contract price,
conditioned upon the faithful performance of the contract. The
authority shall require a bid, performance, and payment bond
from a contractor for a project if the estimated cost of the
project is more than two hundred thousand dollars ($200,000).
The authority may require a bid, performance, or payment bond
from a contractor for a project if the estimated cost of the
project is not more than two hundred thousand dollars
($200,000).
(8) Employ consulting engineers, superintendents, managers,
and such other engineers, construction and accounting experts,
bond counsel, other attorneys with the approval of the attorney
general, and other employees and agents as may be necessary in
its judgment to carry out the provisions of this chapter, and to
fix their compensation. However, all such expenses shall be
payable solely from the proceeds of toll road revenue bonds
issued under the provisions of this chapter or from revenues.
(9) Receive and accept from any federal agency, subject to
IC 8-23-3, grants for or in aid of the construction of any toll
road project, and receive and accept aid or contributions from
any source of either money, property, labor, or other things of
value, to be held, used, and applied only for the purposes for
which such grants and contributions may be made, and repay
any grant to the authority or to the department from a federal
agency if such repayment is necessary to free the authority from
restrictions which the authority determines to be in the public
interest to remove.
(10) Establish fees, charges, terms, or conditions for any
expenditures, loans, or other form of financial participation in
projects authorized as public improvements on arterial streets
and roads under section 1 of this chapter.
(11) Accept gifts, devises, bequests, grants, loans,
appropriations, revenue sharing, other financing and assistance,
and any other aid from any source and agree to and comply with
conditions attached to the aid.
(12) Accept transfer of a state highway to the authority under
IC 8-23-7-23 and pay the cost of conversion of the state
highway to a toll road project.
(13) Enter into contracts or leases with the department under
IC 8-9.5-8-7 or IC 8-9.5-8-8 and in connection with the
contracts or leases agree with the department for coordination
of the operation and the repair and maintenance of toll road
projects and tollways which are contiguous parts of the same
public road, including joint toll collection facilities and
equitable division of tolls.
(14) Enter into public-private agreements under IC 8-15.5 and
do all acts and things necessary or proper to carry out the
purposes set forth in IC 8-15.5.
(15) Do all acts and things necessary or proper to carry out this
chapter. (Formerly: Acts 1951, c.281, s.5; Acts 1957, c.273, s.1; Acts 1959,
c.285, s.3; Acts 1969, c.86, s.1.) As amended by Acts 1977, P.L.112,
SEC.1; Acts 1980, P.L.74, SECS.228, 229; Acts 1981, P.L.41,
SEC.53; Acts 1982, P.L.62, SEC.10; P.L.109-1983, SEC.7;
P.L.48-1986, SEC.4; P.L.386-1987(ss), SEC.9; P.L.18-1990,
SEC.130; P.L.47-2006, SEC.9; P.L.133-2007, SEC.9.
IC 8-15-2-5.2 Prohibition of sale, conveyance, or mortgage
Sec. 5.2. The authority may not sell, convey, or mortgage a toll
road project. As added by P.L.47-2006, SEC.10.
IC 8-15-2-5.5 Policing of toll roads
Sec. 5.5. (a) The authority may, if it determines to do so:
(1) employ its own police officers for the purpose of policing
any toll road under its jurisdiction;
(2) designate one (1) or more of such officers for the purpose of
policing any toll road under its jurisdiction; and
(3) designate one (1) of such officers as chief or superintendent.
(b) The police officers so employed by the authority are vested
with all necessary police powers to enforce the provisions of the laws
of the state of Indiana and without writ or warrant for violation
thereof when committed in their presence. To this end, police
officers employed by the authority shall be peace officers and shall
have within the property limits of the toll road project the same
powers with respect to the enforcement of laws as have sheriffs,
constables, and police officers in their respective jurisdictions. Any
warrant of arrest or search warrant issued by proper authority of the
state may be executed by any police officers employed by the
authority within the property limits of the toll road project.
(c) All uniformed police officers employed by the authority shall
carry arms, and nonuniformed police officers employed by the
authority may carry arms if in the performance of their duties. (Formerly: Acts 1971, P.L.99, SEC.8.) As amended by Acts 1981,
P.L.41, SEC.54; P.L.109-1983, SEC.8.
IC 8-15-2-6 Additional powers
Sec. 6. (a) The authority may:
(1) construct grade separations at intersections of any toll road
project with public roads, state highways, and railroads; and
(2) change and adjust the lines and grades of such public roads,
state highways, railroads, and public utility facilities.
The change and adjustment of lines and grades of public roads and
state highways is subject to the approval of the division of
government having jurisdiction of that road or highway. The cost of
such grade separation and any damage incurred in changing and
adjusting the lines and grades of such roads, highways, railroads, and
public utility facilities, shall be ascertained and paid by the authority
as a part of the cost of such toll road project.
(b) If the authority shall find it necessary to change the location
of any portion of any public road, state highway, railroad, or public
utility facility, it shall cause the same to be reconstructed at such
location as the division of government having jurisdiction over such
road, highway, railroad, or public utility facility shall deem most
favorable and of substantially the same type and in as good condition
as the original road, highway or railroad, or public utility facility.
The cost of such reconstruction, relocation, or removal and any
damage incurred in changing the location of any such road, highway,
railroad, or public utility facility shall be ascertained and paid by the
authority as a part of the cost of such toll road project.
(c) The authority shall have authority to petition, in the manner
prescribed in IC 36-7-3-12, the legislative body of the municipality
or of the county wherein is situated any public road or part thereof,
affected by the location therein of any toll road project, for the
vacation or relocation of such road or any part thereof.
(d) In addition, the authority and its authorized agents and
employees after proper notice may enter upon any lands, waters, and
premises in the state for the purpose of making surveys, soundings,
drillings, and examinations as are necessary or proper for the
purposes of this chapter, and such entry shall not be deemed a
trespass, nor shall an entry for such purposes be deemed an entry
under any condemnation proceedings which may be then pending.
However, before entering upon the premises of any railroad, notice
shall be given to the superintendent of such railroad involved, at least
five (5) days in advance of such entry, that survey, sounding, drilling,
and examination shall be made between the rails, or so close to a
railroad track as would render said track unusable. The authority
shall make reimbursement for any actual damage resulting to such
lands, waters, and premises and to private property located in, on,
along, over, or under such lands, waters, and premises as a result of
such activities. The state of Indiana, subject to the approval of the
governor, consents to the use of all lands owned by it, including
lands lying under water, which are necessary or proper for the
construction or operation of any toll road project, provided adequate
compensation is made for such use.
(e) The authority shall also have power to make reasonable
regulations for the installation, construction, maintenance, repair,
renewal, relocation, and removal of tracks, pipes, mains, conduits,
cables, wires, towers, poles, and other equipment and appliances
(referred to in this subsection as "public utility facilities") of any
public utility in, on, along, over, or under any toll road project.
Whenever the authority shall determine that it is necessary that any
such public utility facilities which are located in, on, along, over, or
under any such project should be relocated in such project, or should
be removed from such project, the public utility owning or operating
such facilities shall relocate or remove the same in accordance with
the order of the authority; however, the cost and expenses of such
relocation or removal, including the cost of installing such facilities
in a new location or new locations, and the cost of any lands, or any
rights or interests in lands, and any other rights, acquired to
accomplish such relocation or removal, shall be ascertained and paid
by the authority as a part of the cost of such project excepting cases
in which such equipment or facilities are located within the limits of
existing highways or public thoroughfares being constructed,
reconstructed, or improved under the provisions of this chapter. In
case of any such relocation or removal of facilities, the public utility
owning or operating the same, its successors or assigns, may
maintain and operate such facilities, with the necessary
appurtenances, in the new location or new locations for as long a
period, and upon the same terms and conditions, as it had the right to
maintain and operate such facilities in their former location or
locations subject, however, to the state's right of regulation under its
police powers. (Formerly: Acts 1951, c.281, s.6.) As amended by Acts 1980, P.L.74,
SEC.230; P.L.109-1983, SEC.9; P.L.5-1988, SEC.51.
IC 8-15-2-7 Powers to purchase
Sec. 7. The authority may:
(1) acquire by purchase, whenever it shall deem such purchase
expedient, any land, property, rights, rights-of-way, franchises,
easements, and other interests in lands as it may deem necessary
or convenient for the construction and operation of any toll road
project upon such terms and at such price as may be considered
by it to be reasonable and can be agreed upon between the
authority and the owner thereof, and to take title thereto in the
name of the state;
(2) sell, transfer, and convey any such land or any interest
therein so acquired, or any portion thereof, when the same shall
no longer be needed for such purposes; and
(3) transfer and convey any such lands or interests therein as
may be necessary or convenient for the construction and
operation of any toll road project, or as otherwise required
under this chapter. (Formerly: Acts 1951, c.281, s.7; Acts 1957, c.273, s.2.) As amended
by Acts 1980, P.L.74, SEC.231; P.L.109-1983, SEC.10.
IC 8-15-2-8 Powers to appropriate
Sec. 8. The authority may acquire by appropriation any land,
property, rights, rights-of-way, franchises, easements, or other
property necessary or proper for the construction or the efficient
operation of any toll road project in the manner provided by
IC 8-23-7. However, a compensation for the property so taken shall
first be made in money as provided by law. Nothing in this chapter
shall authorize the authority to take or disturb property or facilities
belonging to any public utility or to a common carrier engaged in
interstate commerce, which property or facilities are required for the
proper and convenient operation of the public utility or common
carrier, unless provision is made for the restoration, relocation, or
duplication of the property or facilities elsewhere at the sole cost of
the authority excepting, however, cases in which the equipment or
facilities are located within the limits of existing highways or public
thoroughfares being constructed, reconstructed, or improved under
the provisions of this chapter. (Formerly: Acts 1951, c.281, s.8.) As amended by Acts 1980, P.L.74,
SEC.232; P.L.109-1983, SEC.11; P.L.18-1990, SEC.131.
IC 8-15-2-9 Toll road revenue bonds
Sec. 9. (a) Subject to IC 8-9.5-8-10, the authority is authorized to
provide by a resolution at one (1) time or from time to time for the
issuance of toll road revenue bonds of the state for the purpose of
paying all or any part of the cost of any one (1) or more toll road
projects. The principal of and the interest on such bonds shall be
payable solely from an allocation of money from the rural
transportation road fund under IC 8-9.5-8-16 or from the revenues or
from the proceeds of bonds issued under the provisions of this
chapter and earnings thereon, or from all three (3).
(b) The bonds of each issue shall:
(1) be dated;
(2) bear interest at such rate or rates as shall be established by
the authority;
(3) mature at such time or times not exceeding forty (40) years
from their date or dates, as may be determined by the authority;
and
(4) be made redeemable before maturity at the option of the
authority at such price or prices and under such terms and
conditions as may be fixed by the authority prior to the issuance
of the bonds.
(c) The authority shall:
(1) determine the form of the bonds, including any interest
coupons to be attached thereto;
(2) fix the denomination or denominations of the bonds; and
(3) fix the place or places of payment of principal and interest,
which may be at any bank or trust company within or without
the state.
(d) The bonds shall be signed by the chairman of the authority or
by his facsimile signature, and attested to by the manual or the
facsimile signature of the public finance director, and any coupons
attached thereto shall bear the facsimile signature of the chairman of
the authority. In case any officer whose signature or a facsimile of
whose signature shall appear on any bonds or coupons shall cease to
be such officer before the delivery of such bonds, such signature or
such facsimile shall nevertheless be valid and sufficient for all
purposes the same as if he had remained in office until such delivery.
The authority may also provide for the authentication of the bonds by
a trustee or fiscal agent.
(e) All bonds issued under the provisions of this chapter shall
have and are declared to have all the qualities and incidents of
negotiable instruments under the negotiable instruments law of the
state of Indiana.
(f) The bonds may be issued in coupon or in registered form, or
both, as the authority may determine, and provisions may be made
for the registration of any coupon bonds as to principal alone and
also as to both principal and interest, and for the reconversion into
coupon bonds of any bonds registered as to both principal and
interest.
(g) The authority may sell such bonds in such manner and for
such price as it may determine to be for the best interests for the
state, either at a public or private sale.
(h) The proceeds of the bonds of each issue shall be:
(1) used solely for the payment of the cost of the toll road
project or projects for which such bonds shall have been issued;
and
(2) disbursed in such manner and under such restrictions, if any,
as the authority may provide in authorizing the issuance of such
bonds or in the trust agreement mentioned securing the same.
(i) If the proceeds of the bonds of any issue, by error of estimates
or otherwise, shall be less than such cost, additional bonds may in
like manner be issued to provide the amount of such deficit, and,
unless otherwise provided in the resolution authorizing the issuance
of such bonds or in the trust agreement securing the same, shall be
deemed to be of the same issue and shall be entitled to payment from
the same fund without preference or priority of the bonds first issued.
(j) If the proceeds of the bonds of any issue shall exceed the cost
of the toll road project or projects for which the same shall have been
issued, the surplus shall be deposited to the credit of the sinking fund
for such bonds.
(k) Prior to the preparation of definitive bonds, the authority may
under like restrictions, issue interim receipts or temporary bonds,
with or without coupons, exchangeable for definitive bonds when
such bonds shall have been executed and are available for delivery.
The authority may also provide for the replacement of any bonds
which shall become mutilated or shall be destroyed or lost.
(l) Except as provided by IC 8-9.5-8-10, bonds may be issued
under the provisions of this chapter without:
(1) obtaining the consent of any department, division,
commission, board, bureau, or agency of the state; and
(2) any other proceedings or the happening of any other
conditions or things than those proceedings, conditions, or
things which are specifically required by this chapter.
(Formerly: Acts 1951, c.281, s.9; Acts 1969, c.86, s.2; Acts 1971,
P.L.99, SEC.2.) As amended by Acts 1980, P.L.74, SECS.233, 234;
P.L.109-1983, SEC.12; P.L.386-1987(ss), SEC.10; P.L.5-1988,
SEC.52; P.L.162-2007, SEC.32.
IC 8-15-2-10 Toll road revenue refunding bonds
Sec. 10. (a) Subject to IC 8-9.5-8-10, the authority may provide
for the issuance of toll road revenue refunding bonds of the state
payable solely from the funds provided by this chapter for payment
for the purpose of:
(1) refunding any bonds then outstanding which shall have been
issued under the provisions of this chapter, including the
payment of any redemption premium thereon and any interest
accrued or to accrue to the date of redemption of such bonds;
and
(2) if deemed advisable by the authority, for the additional
purpose of constructing improvements, extensions, or
enlargements of the toll road project in connection with which
the bonds to be refunded shall have been issued.
(b) The issuance of such bonds, the maturities and other details
thereof, the rights of the holders thereof, and the rights, duties, and
obligations of the authority in respect of the same, shall be governed
by the provisions of this chapter insofar as the same may be
applicable. (Formerly: Acts 1951, c.281, s.10.) As amended by Acts 1980,
P.L.74, SECS.235, 236; P.L.109-1983, SEC.13.
IC 8-15-2-10.5 Toll road succeeding lien bonds
Sec. 10.5. (a) If at any time all revenues are pledged to secure the
payment of any toll road revenue bonds then outstanding, the
authority, rather than providing for the issuance of another series of
bonds equally secured by a pledge of such revenues or for immediate
refunding of such bonds, may as it considers it advisable, provide by
resolution for the issuance of toll road succeeding lien bonds of the
state for the purpose of paying all or any part of the cost of any one
(1) or more toll road projects, or for the present or future refunding
of part or all of the outstanding toll road revenue bonds, or for both
purposes.
(b) Notwithstanding any other provision of this chapter, revenues
shall not be considered to be pledged for the payment of such
succeeding lien bonds, including the interest thereon, so long as any
of such prior bonds are outstanding but, upon retirement of such
prior bonds, such revenues shall be subjected immediately to a
pledge securing the succeeding lien bonds by the terms of the trust
agreement under which such succeeding lien bonds are issued
without any further action by the authority.
(c) Succeeding lien bonds must provide that, pending payment of
all such prior outstanding bonds, interest on the succeeding lien
bonds shall be paid solely from the portion of the proceeds of the
succeeding lien bonds designated for the payment of capitalized
interest and from the earnings on such proceeds. After such prior
outstanding bonds have been redeemed or retired, the principal of,
premium, if any, and the interest on, the succeeding lien bonds shall
be payable solely from the revenues and other funds pledged for such
payment.
(d) The issuance and sale of succeeding lien bonds, the maturities
and other details thereof, the rights of the holders thereof, and the
rights, duties and obligations of the authority with respect thereto,
shall be governed by the provisions of this chapter insofar as the
same may be applicable, and the authority need not comply with the
requirements of any other law applicable to the issuance of bonds
other than as set forth in this chapter. As added by Acts 1980, P.L.74, SEC.237. Amended by Acts 1981,
P.L.41, SEC.55; P.L.109-1983, SEC.14.
IC 8-15-2-11 Journal of authority
Sec. 11. All final actions of the authority shall be journalized, and
the journal shall be open to the inspection of the public at all
reasonable times. (Formerly: Acts 1951, c.281, s.11.) As amended by P.L.109-1983,
SEC.15.
IC 8-15-2-12 Taxation
Sec. 12. (a) The exercise of the powers granted by this chapter
will be in all respects for:
(1) the benefit of the people of the state;
(2) the increase of their commerce and prosperity; and
(3) the improvement of their health and living conditions.
(b) As the operation and maintenance of toll road projects by the
authority will constitute the performance of essential governmental
functions, the authority shall not be required to pay any taxes or
assessments upon any toll road project or any property acquired or
used by the authority under the provisions of this chapter or upon the
income therefrom.
(c) The bonds issued under the provisions of this chapter, their
transfer, and the income therefrom (including any profit made on the
sale thereof) shall at all times be free from taxation within the state. (Formerly: Acts 1951, c.281, s.12.) As amended by Acts 1980,
P.L.74, SEC.238; P.L.109-1983, SEC.16.
IC 8-15-2-13 Trust agreements securing bond issue
Sec. 13. (a) In the discretion of the authority, any bonds issued
under the provisions of this chapter may be secured by a trust
agreement by and between the authority and a corporate trustee,
which may be any trust company or bank having the powers of a trust
company within or without the state.
(b) Any such trust agreement may pledge or assign the tolls and
other revenue to be received from such project or any other project
or projects constructed under the provisions of this chapter, subject
only to valid prior pledges and except as provided by this chapter
with respect to succeeding lien bonds, but shall not convey or
mortgage any toll road project or any part thereof.
(c) Any such trust agreement or any resolution providing for the
issuance of such bonds may contain such provisions for protecting
and enforcing the rights and remedies of the bondholders as may be
reasonable and proper and not in violation of law, including
covenants setting forth the duties of the authority in relation to:
(1) the acquisition of property and the construction,
improvement, maintenance, repair, operation, and insurance of
the toll road project or projects in connection with which such
bonds shall have been authorized, or of which the revenues are
pledged;
(2) the rates of toll to be charged, and the custody,
safeguarding, and application of all moneys; and
(3) the employment of consulting engineers in connection with
the construction or operation of such project or projects.
(d) It shall be lawful for any bank or trust company incorporated
under the laws of the state which may act as depository of the
proceeds of bonds or of revenue to furnish such indemnifying bonds
or to pledge such securities as may be required by the authority.
(e) Any such trust agreement may set forth the rights and remedies
of the bondholders and of the trustee, and may restrict the individual
right of action by bondholders as is customary in trust agreements or
trust indentures securing bonds or debentures of corporations. In
addition, any such trust agreement may contain such other provisions
as the authority may deem reasonable and proper for the security of
the bondholders.
(f) All expenses incurred in carrying out the provisions of any
such trust agreement may be treated as a part of the cost of the
operation of the toll road project or projects. (Formerly: Acts 1951, c.281, s.13; Acts 1971, P.L.99, SEC.3.) As
amended by Acts 1980, P.L.74, SECS.239, 240; P.L.109-1983,
SEC.17.
IC 8-15-2-14 Toll collection
Sec. 14. (a) The authority may:
(1) fix, revise, charge, and collect tolls for the use of each toll
road project by any person, partnership, association, limited
liability company, or corporation desiring the use of any part
thereof, including the right-of-way adjoining the paved portion
and for placing thereon telephone, telegraph, electric light, or
power lines;
(2) fix the terms, conditions, and rates of charge for such use,
including assessments for the failure to pay required tolls,
subject, however, to the state's police power; and
(3) collect tolls, user fees, or other charges through manual or
nonmanual methods, including, but not limited to, automatic
vehicle identification systems, electronic toll collection
systems, and, to the extent permitted by law, including rules
adopted by the authority under IC 8-15-2-17.2(a)(10), global
positioning systems and photo or video based toll collection or
toll collection enforcement systems.
(b) Notwithstanding subsection (a), no toll or charge shall be
made by the authority under this section or under a public-private
agreement entered into under IC 8-15.5 for:
(1) the operation of temporary lodging facilities located upon or
adjacent to any project, nor may the authority itself operate or
gratuitously permit the operation of such temporary lodging
facilities by other persons without any toll or charge; or
(2) placing in, on, along, over, or under such project, such
telephone, telegraph, electric light or power lines, equipment,
or facilities as may be necessary to serve establishments located
on the project or as may be necessary to interconnect any public
utility facilities on one (1) side of the toll road project with
those on the other side.
(c) All contracts executed by the authority shall be preserved in
the principal office of the authority.
(d) In the case of a toll road project that is not leased to the
department under IC 8-9.5-8-7, the tolls shall be fixed and adjusted
for each toll road project so that the aggregate of the tolls from the
project, together with other revenues that are available to the
authority without prior restriction or encumbrance, will at least be
adequate to pay:
(1) the cost of operating, maintaining, and repairing the toll
road project, including major repairs, replacements, and
improvements;
(2) the principal of and the interest on bonds issued in
connection with the toll road project, as the principal and
interest becomes due and payable, including any reserve or
sinking fund required for the project; and
(3) the payment of principal of and interest on toll road bonds
issued by the authority in connection with any other toll road
project, including any reserve or sinking fund required for the
project, but only to the extent that the authority provides by
resolution and subject to the provisions of any trust agreement
relating to the project.
(e) Not less than one (1) year before the date that final payment
of all such bonds, interest, and reimbursement is expected by the
chairman of the authority to be completed, the chairman shall notify
the state budget committee in writing of the expected date of final
payment.
(f) Such tolls shall not be subject to supervision or regulation by
any other commission, board, bureau, or agency of the state.
(g) The tolls, rents, and all other revenues derived by the authority
from the toll road project, except those received in accordance with
a public-private agreement under IC 8-15.5, shall be used as follows:
(1) To pay the cost of operating, maintaining, and repairing the
toll road project, including major repairs, replacements, and
improvements, to the extent that those costs are not paid out of
other funds.
(2) To the extent provided for in the resolution authorizing the
issuance of bonds under this chapter or in the trust agreement
securing the bonds, to pay:
(A) the principal of and interest on any bonds as the
principal and interest become due; or
(B) the redemption price or purchase price of the bonds
retired by call or purchase.
(3) Except as prohibited by the resolution authorizing the
issuance of bonds under this chapter or the trust agreement
securing them, for any purpose relating to any toll road project,
including the subject toll road project, as the authority provides
by resolution.
(h) Neither the resolution nor any trust agreement by which a
pledge is created needs to be filed or recorded except in the records
of the authority.
(i) The use and disposition of moneys to the credit of any sinking
fund shall be subject to the provisions of any resolution or
resolutions authorizing the issuance of any bonds or of any trust
agreement. Except as may otherwise be provided in this chapter or
in any resolution or any trust agreement, any sinking fund shall be a
fund for all bonds without distinction or priority of one over another,
subject, however, to such priorities as may arise from prior pledges.
(j) In the case of a toll road project that is leased to the department
under IC 8-9.5-8-8, the lease must require that the department fix
tolls for the toll road project that comply with IC 8-9.5-8-8(c)(6).
(k) User fees (as defined in IC 8-15.5-2-10) for a toll road project
that is subject to a public-private agreement under IC 8-15.5 shall be
set in accordance with IC 8-15.5-7. (Formerly: Acts 1951, c.281, s.14; Acts 1959, c.285, s.4; Acts 1971,
P.L.99, SEC.4.) As amended by Acts 1980, P.L.74, SECS.241, 242;
P.L.109-1983, SEC.18; P.L.386-1987(ss), SEC.11; P.L.8-1993,
SEC.145; P.L.47-2006, SEC.11.
IC 8-15-2-14.5 Tolls
Sec. 14.5. (a) Subject to the provisions and requirements of any
trust agreement providing for the issuance of toll road revenue bonds
and only to the extent permitted by such trust agreement, the
authority shall fix the tolls for any toll road under its jurisdiction.
(b) Subsection (a) does not apply to tolls fixed, authorized, or
established in accordance with a public-private agreement under
IC 8-15.5. (Formerly: Acts 1971, P.L.99, SEC.9.) As amended by Acts 1980,
P.L.74, SECS.243, 244; P.L.109-1983, SEC.19; P.L.214-2005,
SEC.52; P.L.47-2006, SEC.12.
IC 8-15-2-14.7 Appropriations to development authority
Sec. 14.7. (a) As used in this section, "development authority"
refers to the development authority established under IC 36-7.5-2-1.
(b) An appropriation made by the general assembly to the
development authority may be distributed to the development
authority only if all transfers required from cities and counties to the
development authority under IC 36-7.5-4-2 have been made.
(c) An appropriation made by the general assembly to the
development authority may be distributed to the development
authority only after:
(1) the budget committee has reviewed; and
(2) the director of the office of management and budget has
approved;
the comprehensive strategic development plan submitted in
accordance with IC 36-7.5-3-4.
(d) If the Indiana Toll Road is sold or leased before January 1,
2008 (other than a lease to the department), and the sale or lease
agreement does not require the purchaser or lessee to continue
making the distributions required by subsection (b), the treasurer of
state shall pay the amount, if any, appropriated by the general
assembly to the development authority fund established under
IC 36-7.5-4-1.
(e) Amounts distributed or paid to the development authority
under this section may be used for any purpose of the development
authorized under IC 36-7.5. As added by P.L.214-2005, SEC.53. Amended by P.L.47-2006,
SEC.13.
IC 8-15-2-15 Deposit of funds
Sec. 15. (a) All moneys received pursuant to the authority of this
chapter, whether as proceeds from the sale of bonds or as revenues,
shall be deemed to be trust funds, to be held and applied solely as
provided in this chapter. Such funds shall be kept in depositories as
selected by the authority and may be invested until expended, all as
provided by law.
(b) The resolution authorizing the issuance of bonds of any issue
or the trust agreement securing such bonds shall provide that any
officer to whom, or any bank or trust company to which, such
moneys shall be paid shall:
(1) act as trustee of such moneys; and
(2) hold and apply the same for the purposes of this chapter,
subject to such regulations as this chapter and such resolution
or trust agreement may provide.
(c) This section does not apply to money paid or received with
respect to a toll road project that is the subject of a public-private
agreement under IC 8-15.5.
(Formerly: Acts 1951, c.281, s.15.) As amended by Acts 1980,
P.L.74, SECS.245, 246; P.L.109-1983, SEC.20; P.L.47-2006,
SEC.14.
IC 8-15-2-16 Rights of bondholders
Sec. 16. Any holder of bonds issued under the provisions of this
chapter or any of the coupons appertaining thereto, and the trustee
under any trust agreement, except to the extent the rights granted by
this chapter may be restricted by any applicable trust agreement,
may:
(1) either at law or in equity, by suit, action, mandamus, or
other proceedings, protect and enforce any and all rights under
the laws of the state or granted by this chapter or under any
applicable trust agreement or the resolution authorizing the
issuance of such bonds; and
(2) enforce and compel the performance of all duties required
by this chapter or by any applicable trust agreement or
resolution to be performed by the authority or by any officer
thereof, including the fixing, charging, and collecting of tolls. (Formerly: Acts 1951, c.281, s.16; Acts 1971, P.L.99, SEC.5.) As
amended by Acts 1980, P.L.74, SEC.247; P.L.109-1983, SEC.21.
IC 8-15-2-17 Power to adopt rules and regulations
Sec. 17. The authority shall have power to adopt bylaws and,
under IC 4-22-2, rules and regulations as it may deem advisable for:
(1) the control and regulation of traffic on any toll road project;
(2) the protection and preservation of property under its
jurisdiction and control; and
(3) the maintenance and preservation of good order within the
property under its control.
However, such rules and regulations shall provide that public police
officers shall be afforded ready access, while in the performance of
their official duty, to all property under the jurisdiction of the
authority without the payment of tolls. (Formerly: Acts 1951, c.281, s.17.) As amended by Acts 1978, P.L.2,
SEC.855; Acts 1980, P.L.74, SEC.248; P.L.109-1983, SEC.22.
IC 8-15-2-17.1
Repealed
(Repealed by Acts 1980, P.L.74, SEC.434.)
IC 8-15-2-17.2 Scope of rules; violations; offenses; penalties
Sec. 17.2. (a) Notwithstanding IC 9, the authority may adopt
rules:
(1) Establishing weight and size limitations for vehicles using
a toll road project, subject to the following:
(A) The operator of any vehicle exceeding any of the
maximum allowable dimensions or weights as set out by the
authority in rules and regulations shall apply to the authority
in writing, for an application for a special hauling permit,
which application must be in compliance with all the terms
thereof, and which application must be received at least
seven (7) days prior to the time of permitted entry should
such permit be granted. Such permit, if granted, will be
returned to the applicant in duplicate, properly completed
and numbered, and the driver of the vehicle shall have a
copy to present to the toll attendant on duty at the point of
entry.
(B) The authority shall assess a fee for issuing a special
hauling permit. In assessing the fee, the authority shall take
into consideration the following factors:
&nb
