Sec. 17. (a) The governing board may borrow money and may secure the borrowing by a pledge of the following:
(1) Amounts from the cumulative building fund.
(2) Accounts receivable.
(3) A security interest in capital equipment for which the proceeds of the loan is used.
(4) Other security, including the excess of unobligated revenues over operating expenses.
(b) The term of a loan may not exceed thirty-five (35) years.
[Pre-1993 Recodification Citation: 16-12.1-4-7.]
As added by P.L.2-1993, SEC.5.
Structure Indiana Code
Chapter 5. Financing Hospital Buildings
16-22-5-2. Continuation of Existing Cumulative Building Funds
16-22-5-3. Establishment of Cumulative Building Funds; Petition
16-22-5-4. Tax Levy for Cumulative Building Fund
16-22-5-5. Hearing on Tax Levy
16-22-5-6. Resolution for Tax Levy
16-22-5-7. Filing of Resolution for Approval
16-22-5-8. Notice of Submitted Resolution; Petition of Objectors
16-22-5-9. Certification of Objectors' Petition
16-22-5-10. Notice of Hearing on Petition
16-22-5-11. Department of Local Government Finance Action; Appeal
16-22-5-12. Budgeting and Levy of Approved Tax Levy
16-22-5-13. Reduction or Rescission of Tax Levy
16-22-5-14. Appeals to Department of Local Government Finance
16-22-5-15. Uses of Funds From Tax Levies for Cumulative Building Fund
16-22-5-16. Hospital Enlargement or Remodeling; General Obligation Bonds