Sec. 4.5. Except as specifically authorized by the general assembly, the ports of Indiana may not pledge, in any form, to:
(1) seek funding from the state in the event of any default in the payment of revenue bonds; or
(2) specify, in any form, in an agreement related to revenue bonds that money appropriated by the general assembly may or shall be deposited in a debt service fund or reserve fund for the revenue bonds.
As added by P.L.224-2003, SEC.205 and P.L.271-2003, SEC.5. Amended by P.L.98-2008, SEC.13.
Structure Indiana Code
Title 8. Utilities and Transportation
Chapter 1. Ports of Indiana─organization
8-10-1-0.3. Treatment of References to Indiana Port Commission
8-10-1-1. Construction of Ports and Economic Development Projects Authorized
8-10-1-3. Ports of Indiana; Commission Membership; Term of Office; Official Bond; Compensation
8-10-1-4.5. Certain Pledges Prohibited
8-10-1-5. Ports and Projects; Cooperation With Other Entities; Title to Property
8-10-1-7.5. Public Fishing Areas
8-10-1-10. Property Acquisition, Management, and Disposition
8-10-1-12. Indiana Port Fund; Creation and Administration
8-10-1-13. Revenue Bonds; Terms and Form; Negotiability; Governor Approval Required
8-10-1-14. Use of Proceeds of Revenue Bonds; Replacement of Lost or Destroyed Bonds
8-10-1-16. Trust Agreements; Pledge or Assignment of Revenues
8-10-1-17. Rates and Charges; Fixing; Surplus Net Revenues; Disposition
8-10-1-18. Disposition of Revenues
8-10-1-19. Mandamus or Other Action Compelling Compliance With Law
8-10-1-20. Operation, Policing, and Maintenance of Projects
8-10-1-21. Political Subdivisions; Lease, Grant, or Conveyance of Property to Ports of Indiana
8-10-1-22. Audit of Books and Accounts; Annual Report
8-10-1-23. Adverse or Pecuniary Interest; Member, Agent, or Employee
8-10-1-24. Construction of Law
8-10-1-25. Investment in Revenue Bonds by Financial Institutions