Indiana Code Title 36. Local Government § 36-7-23-28

Sec. 28. The proceeds of bonds issued under this chapter are appropriated for the purpose for which the bonds are issued.  The proceeds shall be deposited and disbursed in accordance with any provisions and restrictions that the board provides in the resolution or trust indenture authorizing the issuance of the bonds in the first instance and the issuance of any refunding bonds, or in a trust indenture authorized and approved by resolution of the board.  The maturities of the bonds, the rights of the holders, and the rights, duties, and obligations of the board are governed in all respects by this chapter.