Indiana Code 36-7-15.3-16. Issuance of bonds; full and complete authority; status
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Sec. 16. (a) This chapter contains full and complete authority for the issuance of bonds. No law, procedure, proceeding, publication, notice, consent, approval, order, or act by the board of any other officer, department, agency, or instrumentality of the state or of any political subdivision is required to issue any bonds, except as prescribed by this chapter.
(b) Bonds issued under this chapter are legal investments for private trust funds and the funds of banks, trust companies, insurance companies, building and loan associations, credit unions, banks of discount and deposit, savings banks, loan and trust and safe deposit companies, rural loan and savings associations, guaranty loan and savings associations, mortgage guaranty companies, small loan companies, industrial loan and investment companies, and other financial institutions organized under Indiana law.
As added by P.L.84-1987, SEC.14. Amended by P.L.42-1993, SEC.98.
Terms Used In Indiana Code 36-7-15.3-16
- authority: refers to the county convention and recreational facilities authority established by Indiana Code 36-7-15.3-2
- board: refers to the board of directors of the authority. See Indiana Code 36-7-15.3-3
- bonds: means bonds, notes, or other evidence of indebtedness issued by the authority. See Indiana Code 36-7-15.3-4
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.