Sec. 17. (a) This section applies to bonds that are:
(1) issued after June 30, 2008, by a local issuing body; and
(2) payable from ad valorem property taxes, special benefit taxes on property, or tax increment revenues derived from property taxes;
including bonds that are issued under a statute that permits the bonds to be issued without complying with any other law or otherwise expressly exempts the bonds from the requirements of this section.
(b) Except as provided by section 2.5 of this chapter, the last date permitted under an agreement for the payment of principal and interest on bonds that are issued to retire or otherwise refund other revenue bonds or general obligation bonds may not extend beyond the maximum term of the bonds being refunded.
As added by P.L.146-2008, SEC.24. Amended by P.L.229-2011, SEC.64.
Structure Indiana Code
Title 5. State and Local Administration
Article 1. Bonds and Other Obligations
Chapter 5. Refunding Bonds Generally
5-1-5-2. Issuance of Bonds to Refund Outstanding Bonds
5-1-5-2.5. Issuance of Refunding Bonds by an Eligible School Corporation
5-1-5-3. Exchange for Outstanding Bonds
5-1-5-5. Principal Amount; Reserves to Secure Bonds
5-1-5-6. Proceeds of Refunding Bonds; Disposition
5-1-5-7. Safekeeping and Application of Bond Proceeds
5-1-5-8. Trust Indenture to Secure Bonds
5-1-5-9. Payment of Bonds; Sources of Revenue
5-1-5-10. Irrevocable Pledge to General Obligation Bond; Effect
5-1-5-11. Issuance; Separate or in Combination
5-1-5-12. Law Governing Issuance
5-1-5-14. Cumulative Effect of Chapter
5-1-5-16. Advance Refunding Bonds; Issuance