Sec. 26. (a) A district coming under this chapter may borrow money for a term not to exceed two (2) years, which may be renewed for a term of two (2) years, from a bank organized under state or federal statutes or from a state or federal agency in anticipation of the receipt of money from any source, including the following:
(1) Grants and loans from state or federal agencies.
(2) Money from the sale of bonds, notes, or other evidences of indebtedness proposed to be issued under this chapter.
(b) The district may pledge the money to be received to the repayment of the principal and interest of the borrowing.
(c) The interim financing may also be repaid from the sale of bonds, notes, or other evidences of indebtedness without designating the bonds, notes, or other evidences of indebtedness as refunding obligations. The proceeds of interim financing may be used in whole or part for the following:
(1) The acquisition of real, personal, or mixed property, or options on real, personal, or mixed property.
(2) Services reasonably necessary to provide water supply for domestic, industrial, and public use.
(d) Interim financing may be negotiated and consummated directly between the district and the state or federal bank or state or federal agency without public offering. The district may make covenants to the lender and the lender has the rights and remedies that are authorized by this article.
[Pre-1995 Recodification Citation: 13-3-4-9.]
As added by P.L.1-1995, SEC.26.
Structure Indiana Code
Title 14. Natural and Cultural Resources
Article 33. Conservancy Districts
Chapter 20. Water Supply Systems
14-33-20-1. Applicability of Chapter
14-33-20-2. "Commission" Defined
14-33-20-3. "Water Facilities" and "Water Supply" Defined
14-33-20-4. District Electing to Furnish Water Supply for Domestic, Industrial, and Public Use
14-33-20-5. District as Legal Entity
14-33-20-6. Territorial Authority
14-33-20-7. Supplying Water Outside Territorial Authority
14-33-20-8. Commission Setting Hearing; Notice
14-33-20-10. Commission's Findings After Hearing
14-33-20-11. Municipality or Public Utility Supplying Water
14-33-20-13. Reasonable and Just Charges for Services; Rates
14-33-20-14. Schedule of Rates and Charges; Regulation
14-33-20-15. "Net Revenues" Defined
14-33-20-16. Resolution Authorizing Bonds, Notes, or Other Evidences of Indebtedness
14-33-20-17. Requirements for Bonds, Notes, or Other Evidences of Indebtedness
14-33-20-20. Recital of Authority of Bond, Note, or Other Evidence of Indebtedness
14-33-20-21. Sale of Bonds, Notes, or Other Evidences of Indebtedness
14-33-20-22. Bonds, Notes, or Other Evidences of Indebtedness Equally and Ratably Secured by Lien
14-33-20-23. Constitutionally Restricted Bonds or Debts Not Authorized
14-33-20-24. Restrictions on Bonds, Notes, or Other Evidences of Indebtedness
14-33-20-26. District Borrowing Money
14-33-20-28. Security of Bonds, Notes, or Other Evidences of Indebtedness
14-33-20-29. Provisions Compromising Parts of Bonds, Notes, or Evidences of Indebtedness
14-33-20-30. Application for Appointment of Receiver of Water Facilities
14-33-20-31. Appointment of Receiver of Water Facilities
14-33-20-32. Receiver Taking Possession of Water Facilities
14-33-20-33. Duties of Receiver
14-33-20-34. Surrender of Possession of Water Facilities by Receiver
14-33-20-35. Court Supervision of Receiver
14-33-20-36. Protection of Holders or Trustees