Title 5, STATE AND LOCAL ADMINISTRATION

Sec. 12. (a) Bonds issued under IC 36-10-9.5 or prior law may be refunded as provided in this section. (b) The stadium board may: (1) lease all or a portion of land or a capital improvement or improvements to the authority, which may be at a nominal lease rental with a lease back…

Sec. 13. (a) Before a lease may be entered into by the stadium board under this chapter, the stadium board must find that the lease rental provided for is fair and reasonable. (b) A lease or sublease of land or capital improvements from the authority, or from a state agency under…

Sec. 14. This chapter contains full and complete authority for leases between the authority and the stadium board. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the board or the stadium board or any other officer, department, agenc…

Sec. 15. If the lease provides for a capital improvement or improvements thereto to be constructed by the authority, the plans and specifications shall be submitted to and approved by all agencies designated by law to pass on plans and specifications for public buildings. As adde…

Sec. 16. The authority and the stadium board may enter into common wall (party wall) agreements or other agreements concerning easements or licenses. These agreements shall be recorded with the recorder of the county in which the capital improvement is located. As added by P.L.44…

Sec. 17. (a) The stadium board may lease for a nominal lease rental, or sell to the authority, one (1) or more capital improvements or portions thereof or land upon which a capital improvement is located or is to be constructed. (b) Any lease of all or a portion of a capital impr…

Sec. 18. (a) Subject to subsection (h), the authority may issue bonds for the purpose of obtaining money to pay the cost of: (1) acquiring real or personal property, including existing capital improvements; (2) constructing, improving, reconstructing, or renovating one (1) or mor…

Sec. 18.5. (a) This section applies to bids received with respect to a capital improvement under this chapter: (1) that is constructed by, for, or on behalf of the authority; and (2) for which only one (1) bid was received from a responsible bidder. (b) The board may attempt to n…

Sec. 19. This chapter contains full and complete authority for the issuance of bonds. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the board or any other officer, department, agency, or instrumentality of the state or of any polit…

Sec. 2. As used in this chapter, "board" refers to the board of directors of the authority. As added by P.L.44-2026, SEC.1.

Sec. 20. Bonds issued under this chapter are legal investments for private trust funds and the funds of banks, trust companies, insurance companies, building and loan associations, credit unions, banks of discount and deposit, savings banks, loan and trust and safe deposit compan…

Sec. 21. (a) The authority may secure bonds issued under this chapter by a trust indenture between the authority and a corporate trustee, which may be any trust company or national or bank having the powers of a trust company in Indiana. (b) The trust indenture may: (1) pledge or…

Sec. 22. If the stadium board exercises its option to purchase leased property, it may issue its bonds as authorized by statute. As added by P.L.44-2026, SEC.1.

Sec. 23. All: (1) property owned by the authority; (2) property leased to or by the authority; (3) revenues of the authority; and (4) bonds issued by the authority, the interest on the bonds, the proceeds received by a holder from the sale of bonds to the extent of the holder's c…

Sec. 24. Any action to contest the validity of bonds to be issued under this chapter may not be brought after the fifteenth day following: (1) the receipt of bids for the bonds, if the bonds are sold at public sale; or (2) the publication one (1) time in a newspaper of general ci…

Sec. 24.1. The authority shall not issue bonds to finance any capital improvement in the city unless the fiscal body of the city imposes the tax authorized by IC 6-9-78-2 by the maximum amount authorized by IC 6-9-78-3(a). As added by P.L.44-2026, SEC.1.

Sec. 25. (a) Notwithstanding any other law, any capital improvement that may be leased by the authority to the stadium board under this chapter may also be leased by the authority to any state agency to accomplish the purposes of this chapter. Any lease between the authority and …

Sec. 26. In order to enable the authority to lease a capital improvement or existing facility to a state agency under section 25 of this chapter, the public finance director or fiscal body of a municipality (as defined in IC 5-11-1-16) in northwest Indiana may convey, transfer, o…

Sec. 27. If the authority enters into a lease with the stadium board under section 13 of this chapter or a state agency under section 25 of this chapter, which then enters into a sublease with the stadium board under section 25(b) of this chapter, and the rental payments owed by …

Sec. 3. As used in this chapter, "bonds" means bonds, notes, commercial paper, or other evidences of indebtedness. The term includes obligations (as defined in IC 8-9.5-9-3) and swap agreements (as defined in IC 8-9.5-9-4). As added by P.L.44-2026, SEC.1.

Sec. 4. As used in this chapter, "capital improvement" means the building, facilities, or improvements that the board determines will be of general public benefit or welfare and will promote the cultural, recreational, public, or civic well-being of the city and northwest Indiana…

Sec. 4.2. As used in this chapter, "city" means the city of Hammond, Indiana. As added by P.L.44-2026, SEC.1.

Sec. 4.5. As used in this chapter, "stadium board" refers to the northwest Indiana stadium board created by 36-10-9.5. As added by P.L.44-2026, SEC.1.

Sec. 5. As used in this chapter, "state agency" means any of the following: (1) An authority, a board, a commission, a committee, a department, a division, or other instrumentality of state government. (2) The Indiana finance authority created by IC 5-1.2-3. As added by P.L.44-20…

Sec. 6. A northwest Indiana stadium authority is hereby created as a separate body corporate and politic as an instrumentality of the state to acquire, construct, equip, own, lease, and finance facilities for lease to or for the benefit of the stadium board. The Indiana finance a…

Sec. 7. (a) The board is composed of the following members who must be residents of Indiana: (1) The director of the state budget agency, or the director's designee, who shall serve as chair of the board. (2) One (1) member appointed by the executive of the city, who shall serve …

Sec. 8. (a) The board shall hold an annual organizational meeting. (b) The board shall elect one (1) member secretary-treasurer to perform the duties of those offices. The secretary-treasurer shall serve from the date of the member's election and until the member's successor is e…

Sec. 9. (a) The board may adopt the bylaws and rules it considers necessary for the proper conduct of its duties and the safeguarding of the funds and property entrusted to its care. (b) The board shall, without complying with IC 4-22-2, adopt the code of ethics in executive orde…

Sec. 9.5. The members, officers and employees of the authority executing bonds, leases, obligations, or other agreements under this chapter are not subject to personal liability or accountability by reason of any act authorized by this chapter. As added by P.L.44-2026, SEC.1.