Sec. 38. (a) The board may issue general obligation bonds of the authority for the purpose of procuring money to pay the cost of:
(1) acquiring real property or rights-of-way; or
(2) constructing, enlarging, improving, remodeling, repairing, or equipping levees, gates, and pumping stations and sewers, ditches, and drains in connection with that construction or maintenance or other facilities;
for use as or in connection with or for administrative purposes of the levee.
(b) The board must authorize the issuance of bonds by ordinance providing for the following:
(1) The amount, terms, and tenor of the bonds.
(2) The time and character of notice.
(3) The mode of selling the bonds.
(c) The bonds:
(1) may bear interest at any rate;
(2) are payable in not more than twenty-five (25) years after the date of issuance; and
(3) shall be:
(A) executed in the name of the authority by the president of the board; and
(B) attested by the secretary and treasurer who shall affix to each of the bonds the official seal of the authority.
(d) The interest coupons attached to the bonds may be executed by placing on the coupons the facsimile signature of the president of the board.
[Pre-1995 Recodification Citation: 13-2-31-19(a).]
As added by P.L.1-1995, SEC.20.
Structure Indiana Code
Title 14. Natural and Cultural Resources
Article 27. Levees, Dams, and Drainage
Chapter 6. Levee Authority in Vanderburgh County
14-27-6-1. Application of Chapter
14-27-6-5. "Pumping Station" Defined
14-27-6-6. Ordinance Establishing Levee Authority
14-27-6-7. Board; Executive and Legislative Powers
14-27-6-9. Board; Eligibility of Members
14-27-6-10. Board; Appointment of Members; First Meeting
14-27-6-11. Board; Terms of First Members
14-27-6-12. Board; Filling of Vacancy Upon Expiration of Term
14-27-6-13. Board; Filling of Vacancy Upon Resignation
14-27-6-14. Board; Terms of Members
14-27-6-15. Board; Restrictions on Members
14-27-6-16. Board; Compensation of Members
14-27-6-18. Board; Office and Records
14-27-6-21. Board; Record of Proceedings
14-27-6-22. Board; Rules of Procedure
14-27-6-23. Board; Supervision of Internal Affairs
14-27-6-24. Proposed Drafts of Ordinances
14-27-6-25. Notice of Pending Action on Proposed Drafts
14-27-6-26. Meetings to Take Action on Proposed Drafts
14-27-6-27. Public Meeting Required
14-27-6-28. Effective Dates of Ordinances
14-27-6-29. Copies of Ordinances
14-27-6-30. General Powers of Board
14-27-6-31. Letting of Contracts; Bidding
14-27-6-32. Recovery of Damages or Possession of Property
14-27-6-33. Eminent Domain Powers; Generally
14-27-6-34. Eminent Domain Powers; Land Already in Public Use
14-27-6-35. Eminent Domain Powers; Rights of Board and Landowners
14-27-6-36. Eminent Domain Powers; Taking Possession; Abandonment; Acquisition of Other Land
14-27-6-37. Eminent Domain Powers; Description of Land; Statement of Purpose
14-27-6-38. General Obligation Bonds; Issuance
14-27-6-39. General Obligation Bonds; Sale
14-27-6-40. General Obligation Bonds; Applicability of Ic 5-1 and Ic 6-1.1-20
14-27-6-41. General Obligation Bonds; Payment; Tax Exemption
14-27-6-42. Tax Anticipation Loans
14-27-6-43. Treasurer; Appointment, Powers, and Duties
14-27-6-44. Treasurer; Report of Accounts
14-27-6-46. Budgets; Tax Levies
14-27-6-47. Assessment and Collection of Tax Levies