Sec. 9. Grant anticipation revenue bonds or notes:
(1) constitute the corporate obligations of the authority;
(2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision or limitation; and
(3) are payable solely as to both principal and interest from:
(A) the revenues from a lease to the department, if any;
(B) proceeds of bonds or notes, if any; or
(C) investment earnings on proceeds of bonds or notes, if any.
As added by P.L.246-2005, SEC.83.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 14.5. Lease Financing for Transportation Systems
Chapter 7. Grant Anticipation Revenue Bonds and Notes
8-14.5-7-2. "Federal Highway Revenues"
8-14.5-7-3. "Grant Anticipation Revenue Bond"
8-14.5-7-4. "Highway Improvement Project"
8-14.5-7-5. Issuance of Grant Anticipation Revenue Bonds or Notes
8-14.5-7-6. Revenue Declaration
8-14.5-7-7. Maximum Term of Bonds and Notes