Sec. 6. (a) Bonds issued under IC 8-5-15, IC 8-22-3, IC 36-9-3, or prior law may be refunded as provided in this section.
(b) An eligible political subdivision may:
(1) lease all or a part of land or a project or projects to a development authority, which may be at a nominal lease rental with a lease back to the eligible political subdivision, conditioned upon the development authority assuming bonds issued under IC 8-5-15, IC 8-22-3, IC 36-9-3, or prior law and issuing its bonds to refund those bonds; and
(2) sell all or a part of land or a project or projects to a development authority for a price sufficient to provide for the refunding of those bonds and lease back the land or project or projects from the development authority.
As added by P.L.232-2007, SEC.7.
Structure Indiana Code
Article 7.6. Regional Development Authorities
Chapter 4. Financing; Issuance of Bonds; Leases
36-7.6-4-1. Development Authority Fund; Accounts; Debt Service
36-7.6-4-2. Revenue Transfers to Fund
36-7.6-4-4. Bonding; Complete Authority
36-7.6-4-5. Bonding; Security; Trust Indenture
36-7.6-4-6. Bond Refunding; Leases
36-7.6-4-8. Leases; Complete Authority
36-7.6-4-10. Agreements; Common Wall; Easements; Licenses
36-7.6-4-11. Leases or Sale of Projects or Land to Development Authorities
36-7.6-4-12. Option to Purchase Property
36-7.6-4-14. Bonds; Legal Investments
36-7.6-4-15. Bonds; Contesting Validity
36-7.6-4-16. Transfers; Failure to Make Transfer; Duty of State Treasurer