Sec. 11. (a) A corporation qualifying as a lessor corporation under this chapter may, in furtherance of the corporation's purposes, issue and sell bonds and other securities. Mortgage bonds issued by a lessor corporation that are a first lien on the leased property are legal and proper investments for state banks and trust companies, insurance companies, and fiduciaries. The bonds may be callable, with or without premiums, with accrued and unpaid interest upon notice provided in the mortgage indenture.
(b) All bonds and other securities issued by the lessor corporation must be advertised and sold in accordance with IC 5-1-11 at any interest rate.
(c) The approval of the securities division of the secretary of state is not required in connection with the issuance and sale of bonds or other securities of a municipal corporation.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-14-10-11.]
As added by P.L.1-2005, SEC.49. Amended by P.L.42-2018, SEC.56.
Structure Indiana Code
Chapter 10. Leasing of Library Property
36-12-10-1. Application of Chapter
36-12-10-2. Power to Lease Library Buildings; Conditions; Joint Lease Contracts
36-12-10-3. Authorized Purposes of Leases; Limitations on Profit; Disposition of Excess Funds
36-12-10-4. Provisions of Lease
36-12-10-5. Submission of Plans and Specifications to Certain State Agencies; Approval
36-12-10-6. Authorized Provisions of Lease; Payment of Taxes, Insurance, and Repairs
36-12-10-7. Leases in Anticipation of Completion of Building; Bond
36-12-10-8. Notice and Hearing on Terms and Conditions of Proposed Lease
36-12-10-10. Applicability; Title to Real Property; Sale; Procedure
36-12-10-12. General Obligation Bonds