Title 36, LOCAL GOVERNMENT

Note: This version of section effective until 7-1-2028. See also following version of this section, effective 7-1-2028. Sec. 2.5. (a) This section applies to a unit that has previously: (1) entered into an interlocal cooperation or other similar agreement; (2) adopted an ordinanc…

Sec. 20. (a) Before July 1, 2019, the Lake County auditor shall transfer to the secretary-treasurer of the development authority all amounts held in the commuter rail extension and improvement fund established by an ordinance adopted by the fiscal body of Lake County on June 9, 2…

Sec. 21. (a) If a full funding grant agreement is not entered into between the commuter transportation district and the federal government for the West Lake corridor project, all amounts received by the secretary-treasurer of the development authority under IC 6-3.6-11-5.5, inclu…

Sec. 22. (a) Subject to subsection (b), if, before December 31, 2020, the proper applications for federal funding necessary and desired to complete commuter rail extensions and improvements described in an interlocal agreement entered into by Lake County units to support the exte…

Sec. 3. (a) The development 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) acquiring, constructing, improving, reconstructing, or renovating one (1) or more pro…

Sec. 4. 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 development board or any other officer, department, agency, or instrumentality of the state or o…

Sec. 5. (a) The development authority may secure bonds issued under this chapter by a trust indenture between the development authority and a corporate trustee, which may be any trust company or national or state bank within Indiana that has trust powers. (b) The trust indenture …

Sec. 6. (a) Bonds issued under IC 8-5-15, IC 8-22-3, or IC 36-9-3 or prior law may be refunded as provided in this section. (b) An eligible political subdivision may: (1) lease all or a portion of land or a project or projects to the development authority, which may be at a nomin…

Sec. 7. (a) Before a lease may be entered into by an eligible political subdivision under this chapter, the eligible political subdivision must find that the lease rental provided for is fair and reasonable. (b) A lease of land or a project from the development authority to an el…

Sec. 8. This chapter contains full and complete authority for leases between the development authority and an eligible political subdivision. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the development authority or the eligible p…

Sec. 9. If the lease provides for a project or improvements to a project to be constructed by the development 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 …

Sec. 1. (a) A development board shall establish and administer a development authority fund. (b) A development authority fund consists of the following: (1) Amounts transferred under section 2 of this chapter by each county and municipality that is a member of the development aut…

Sec. 10. A development authority and an eligible political subdivision 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 project is located. As a…

Sec. 11. (a) An eligible political subdivision may lease for a nominal lease rental, or sell to a development authority, one (1) or more projects or parts of a project or land on which a project is located or is to be constructed. (b) Any lease of all or a part of a project by an…

Sec. 12. If an eligible political subdivision exercises its option to purchase leased property, the eligible political subdivision may issue its bonds as authorized by statute. As added by P.L.232-2007, SEC.7.

Sec. 13. (a) All: (1) property owned by a development authority; (2) revenue of a development authority; and (3) bonds issued by a development authority, the interest on the bonds, the proceeds received by a holder from the sale of bonds to the extent of the holder's cost of acqu…

Sec. 14. Bonds issued under this chapter are legal investments for private trust funds and the funds of banks, trust companies, insurance companies, building and loan associates, credit unions, savings banks, private banks, loan and trust and safe deposit companies, rural loan an…

Sec. 15. An action to contest the validity of bonds to be issued under this chapter may not be brought after the time limitations set forth in IC 5-1-14-13. As added by P.L.232-2007, SEC.7.

Sec. 16. (a) This section applies if the county or municipality fails to make a transfer or part of a transfer required by: (1) section 2 of this chapter; or (2) an interlocal agreement executed under section 3(h) of this chapter that is required to satisfy the county's or munici…

Sec. 17. (a) If there are bonds outstanding that have been issued under this article by a development authority and are not secured by a lease, or if there are leases in effect under this article, the general assembly covenants that it will not reduce the amount required to be tr…

Sec. 2. (a) This section applies only to a development authority and its member counties and municipalities to the extent necessary to make required payments and maintain a required reserve for debt obligations or leases that were issued or entered into by the development authori…

Sec. 3. (a) A development 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) acquiring, constructing, improving, reconstructing, or renovating one (1) or more proje…

Sec. 4. This chapter contains full and complete authority for the issuance of bonds. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by a development board or any other officer, department, agency, or instrumentality of the state or of …

Sec. 5. (a) A development authority may secure bonds issued under this chapter by a trust indenture between the development authority and a corporate trustee, which may be any trust company or national or state bank in Indiana that has trust powers. (b) The trust indenture may: (…

Sec. 6. (a) Bonds issued under IC 8-5-15, IC 8-22-3, IC 36-9-3, or prior law may be refunded as provided in this section. (b) An eligible political subdivision may: (1) lease all or a part of land or a project or projects to a development authority, which may be at a nominal leas…

Sec. 7. (a) Before a lease may be entered into by an eligible political subdivision under this chapter, the eligible political subdivision must find that the lease rental provided for is fair and reasonable. (b) A lease of land or a project from a development authority to an elig…

Sec. 8. This chapter contains full and complete authority for leases between a development authority and an eligible political subdivision. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by a development authority or the eligible polit…

Sec. 9. If the lease provides for a project or improvements to a project to be constructed by a development 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 ad…

Sec. 1. (a) A development authority shall comply with IC 5-22 (public purchasing), IC 36-1-12 (public work projects), and any applicable federal bidding statutes and regulations. An eligible political subdivision that receives a loan, a grant, or other financial assistance from a…

Sec. 2. (a) The state board of accounts shall, pursuant to IC 5-11-1-7 and IC 5-11-1-24, allow each development authority to contract with a certified public accountant for an annual financial audit of the development authority. The certified public accountant may not have a sign…