Indiana Code 36-7-27-14. Bonds; issuance; purposes
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Terms Used In Indiana Code 36-7-27-14
- commission: refers to the metropolitan development commission acting as the redevelopment commission of a consolidated city, subject to IC 36-3-4-23. See Indiana Code 36-7-27-3
- fund: refers to an incremental income tax financing fund established under section 13 of this chapter. See Indiana Code 36-7-27-7
- 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
- tax area: means a geographic area established by a commission under section 11 of this chapter in which a qualified economic development tax project is located. See Indiana Code 36-7-27-10
Sec. 14. The commission may issue bonds payable in whole or in part from money distributed from the fund to the commission to finance local public improvements under IC 36-7-15.1-17 or make lease rental payments in whole or in part from money distributed from the fund to the commission for a local public improvement under IC 36-7-15.1-17.1 and IC 36-7-15.1-17.2, including debt service payments on or lease rental payments for local public improvements under bonds issued or a lease entered into before January 1, 1992. Local public improvements to be financed by the commission may be in or serving the tax area.
As added by P.L.27-1992, SEC.28.