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Indiana Code Title 8. Utilities and Transportation § 8-15.7-8-6

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 6. (a) For the purpose of financing a qualifying project, the authority may enter into agreements, leases, or subleases with the department or an operator, or both, and do the following:

(1) Issue bonds, debt, or other obligations under IC 5-1.2-4, IC 8-15-2, or IC 8-15.7-9.

(2) Enter into loan agreements or other credit facilities.

(3) Secure any financing with a pledge of, security interest in, or lien on all or part of a property subject to the agreement, including all of the party's property interests in the qualifying project.

(4) Subject to review by the budget committee established in IC 4-12-1-3 and approval by the budget director appointed under IC 4-12-1-3:

(A) establish a procedure for the authority or a person acting on behalf of the authority to certify to the general assembly the amount needed to pay costs incurred under a public-private agreement;  or

(B) otherwise create a moral obligation of the state to pay all or part of any costs incurred by the authority under a public-private agreement.

(b) The department and an operator may transfer any interest in property that the department or operator has to the authority to secure the financing.

(c) If items submitted for review under subsection (a)(4) provide for any tolls, the budget committee shall hold a meeting and conduct a review of the items not later than ninety (90) days after the date the items are submitted for review.

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Cite this article: FindLaw.com - Indiana Code Title 8. Utilities and Transportation § 8-15.7-8-6 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-8-utilities-and-transportation/in-code-sect-8-15-7-8-6/

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