Indiana Code 36-7-29-13. Issuance of bonds
(b) On adopting a resolution ordering the issuance of district bonds, the board shall certify a copy of the resolution and a copy of the approval to the treasurer of the district, who shall prepare the district bonds.
Terms Used In Indiana Code 36-7-29-13
- board: refers to the local environmental response financing board established by section 10 of this chapter. See Indiana Code 36-7-29-2
- district: refers to the special taxing district established by section 9 of this chapter. See Indiana Code 36-7-29-3
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- qualified site: means a site that is wholly or partially located in the district and on July 1, 1994, is:
Indiana Code 36-7-29-4
- remedial action: has the meaning set forth in IC 13-11-2-185. See Indiana Code 36-7-29-5
- removal: has the meaning set forth in IC 13-11-2-187. See Indiana Code 36-7-29-6
- substance: has the meaning set forth in IC 13-11-2-98 for the term "hazardous substance". See Indiana Code 36-7-29-8
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(d) All proceeds from the sale of district bonds shall be kept as a separate and specific fund, to pay the cost of substance removal or remedial action, and no part of the proceeds may be used for any other purpose, except as provided in IC 5-1-13 and IC 5-1-14.
(e) The tax levied each year shall be certified to the treasurer of the district and to the county auditor. The tax levied and certified shall be estimated and entered upon the tax duplicate by the county auditor and shall be collected and enforced. As the tax is collected by the county treasurer, the tax shall be transferred to the treasurer of the district, kept in a separate fund to be known as the district bond fund, and applied to the payment of the principal of and interest on the district bonds as the district bonds become due and to no other purpose, except as provided in IC 5-1-13 and IC 5-1-14.
(f) The special tax described in this section may not be levied after the last of the principal and interest on bonds issued under this chapter have been completely paid.
As added by P.L.44-1994, SEC.11.