Sec. 18. Before receiving any moneys, the secretary of a port authority shall furnish bond in such amount as shall be determined by the port authority, with sureties satisfactory to it, and all funds coming into the hands of said secretary shall be deposited by him to the account of the port authority in one (1) or more depositories as shall be qualified to receive deposits of funds, in the same manner as is done by the city or county creating such port authority, which deposits shall be secured in the same manner as such city or county funds are required to be secured. No disbursements shall be made from such funds except in accordance with rules and regulations adopted by the port authority.
Formerly: Acts 1959, c.343, s.17; Acts 1965, c.390, s.3.
Structure Indiana Code
Title 8. Utilities and Transportation
Chapter 5. Creation of Port Authorities by Local Governments
8-10-5-2. Ordinance or Resolution Authorizing Creation; Actions by or Against; Contracts
8-10-5-3. Counties Creating Port Authority; Reimbursement of Municipal Corporations
8-10-5-4. Surveys and Examinations; Dissolution of Authority
8-10-5-5.5. Expansion of Jurisdiction; Ordinances
8-10-5-6. Officers and Employees
8-10-5-6.5. Retirement Plans for Port Authority Railroad Employees
8-10-5-8.1. Railroad Right-of-Way; Powers
8-10-5-8.5. Powers of Port Authorities in Certain Counties
8-10-5-9. Maps, Plans, and Profiles for Future Development; Hearings; Objections
8-10-5-10. Modification, Amendment, or Extension of Development Plan
8-10-5-11. Modification, Amendment, or Extension of Development Plan; Conclusiveness
8-10-5-12. Private Enterprise; Participation in Construction and Operation of Facilities
8-10-5-13. Revenue Bonds; Issuance and Sale
8-10-5-14. Miscellaneous Provisions
8-10-5-15. Bids and Bidding; Construction Contracts and Lease or Sale of Land or Property
8-10-5-16. Budget; Rates and Charges
8-10-5-17. Cumulative Channel Maintenance Fund; Establishment; Tax Levies; Docking and Launch Fees
8-10-5-18. Bond of Secretary; Depositories; Disbursement of Funds
8-10-5-20. Contracts; Purchase, Lease, or Acquisition of Land or Other Property
8-10-5-22. Application of Section; Annual Watercraft Fee; Watercraft Fee Decal
8-10-5-23. Per Launch Watercraft Fee; Deposit of Fees; Watercraft Fee Decal