Indiana Code 8-22-3.7-11. Refund of bonds; lease back
Current as of: 2023 | Check for updates
|
Other versions
Sec. 11. (a) Bonds issued under IC 8-22-3 may be refunded as provided in this section.
(b) The authority may lease all or a portion of an airport project to the development authority, which may be at a nominal lease rental with a lease back to the authority, conditioned upon the development authority assuming bonds issued under IC 8-22-3 and issuing its bonds to refund those bonds.
As added by P.L.108-1993, SEC.11.
Terms Used In Indiana Code 8-22-3.7-11
- airport project: has the meaning set forth in Indiana Code 8-22-3.7-1
- bonds: means bonds, notes, or other evidences of indebtedness issued by the development authority. See Indiana Code 8-22-3.7-2
- development authority: refers to an airport development authority created by this chapter. See Indiana Code 8-22-3.7-3
- 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