Indiana Code 36-10-10-19. Revenue bonds; issuance; resolution
(b) The revenue bonds shall be authorized by resolution of the board and must bear interest at a rate or rates per year not exceeding the maximum rate fixed in the resolution, payable semiannually or annually, and mature serially, either annually or semiannually, at the times that are determined by the resolution of the board authorizing the bonds. The maturities of the bonds may not extend over a period longer than the period of the lease of the convention center for which the bonds are issued. The bonds may be made redeemable before maturity at the option of the authority, to be exercised by the board, at par value together with the premiums and under the terms and conditions that are fixed by the resolution authorizing the issuance of the bonds. The principal and interest of the bonds may be made payable in any lawful medium.
Terms Used In Indiana Code 36-10-10-19
- Authority: refers to a civic center building authority created under this chapter. See Indiana Code 36-10-10-2
- Board: refers to the board of directors of the authority. See Indiana Code 36-10-10-2
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- Statute: A law passed by a legislature.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
As added by Acts 1982, P.L.218, SEC.4. Amended by P.L.42-1993, SEC.102.