Title 8, UTILITIES AND TRANSPORTATION

Sec. 14. Trust Funds. Notwithstanding any other provisions of law to the contrary, all moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of bonds or as revenues, shall be considered trust funds to be held and applied solely as provided i…

Sec. 15. Remedies. Any holder of bonds issued under the provisions of this chapter or any of the bond coupons, and the trustee under any trust agreements, except to the extent that his rights are restricted by the trust agreement or the resolution authorizing the issuance of the …

Sec. 16. Bond Eligibility for Investment. Bonds issued by a municipality or joint agency under this chapter are securities in which all public officers and agencies of the state, all insurance companies, banking associations, investment companies, executors, administrators, trust…

Sec. 17. Agreement of the State. The state hereby covenants and agrees with the holders of any bonds that so long as any bonds of a municipality or joint agency issued under this chapter are outstanding and unpaid, the state will not limit or alter the rights vested in such munic…

Sec. 18. Limited Liability. (a) The bonds issued under the authority of this chapter by a municipality shall not be general obligations of the municipality issuing them. The principal of, premium, if any, and interest on the bonds shall not be payable from the general funds of th…

Sec. 19. (a) Prior to the acquisition or the commencement of construction of any project to be financed by the issuance of bonds under this chapter, the municipality or municipalities or joint agency shall file a verified petition with the commission for approval of the project, …

Sec. 2. (a) The definitions in this section apply throughout this chapter. (b) "Bonds" means electric utility revenue bonds, notes, and other evidences of indebtedness of a municipality or a joint agency issued under the provisions of this chapter. (c) "Cost" or "cost of a projec…

Sec. 20. Acquisition and Construction Contracts. A municipality or joint agency may contract for the planning, acquisition, construction, reconstruction, operation, maintenance, repair, extension, and improvement of generation, distribution, or transmission facilities within or w…

Sec. 21. Tax Exempt Status. Bonds, their transfer and the income therefrom (including any profit made on the sale thereof), shall at all times be free from taxation by the state or any political subdivision or any agency of either thereof, excepting inheritance or gift taxes. As …

Sec. 22. Payments in Lieu of Taxes. That part of a project owned by a municipality or municipalities or joint agency shall be exempt from property taxes. However, each municipality participating in a project or joint agency owning all or any part of a project shall, in lieu of pr…

Sec. 23. Personnel. Personnel employed or appointed by a municipality or joint agency to work on a project shall have the same authority, rights, privileges and immunities which officers, agents and employees of municipalities enjoy, when they are acting within the scope of their…

Sec. 24. Dissolution of Joint Agencies. Whenever the board of commissioners of a joint agency and the governing bodies of its member municipalities by resolution or ordinance determine that the purposes for which the joint agency was formed have been substantially fulfilled and t…

Sec. 25. Annual Reports. The municipal utilities or joint agencies possessing ownership interests in a project shall, following the closing of each fiscal year, submit a consolidated or combined annual report of their activities (including the activities of any joint agency) with…

Sec. 26. Government Grants and Loans. The governing body of any municipality or the joint agency is hereby authorized to make application and to enter into contracts for and to accept grants-in-aid and loans from the federal and state governments and their agencies for planning, …

Sec. 27. (a) Municipalities participating in a project and joint agencies have the power of eminent domain to the extent and in the same manner and under the same laws as municipalities or public utilities under IC 32-24-1 or IC 8-1-8. However, a municipality or joint agency exer…

Sec. 28. Liability of Officers. No officer of any municipality or joint agency or person or persons acting in their behalf, while acting within the scope of their authority, shall be subject to any personal liability or accountability by reason of his carrying out any of the powe…

Sec. 29. Other Statutes. This chapter shall be considered to provide a complete method for the performance of things so authorized, and shall be considered and construed to be supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogatio…

Sec. 3. Authorization to Cooperate. (a) In addition and supplemental to the powers otherwise conferred on municipalities by law, and in order to accomplish the purposes of this chapter, a municipality may plan, finance, develop, construct, reconstruct, acquire, improve, enlarge, …

Sec. 30. Severability of Invalid Provisions. Any provisions of this chapter which may be determined by competent authority to be prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability wi…

Sec. 31. (a) Except as provided in subsection (e), at least a quorum of the board must be physically present at the place where a meeting of the board of commissioners of a joint agency is conducted. (b) A member of the board of commissioners of a joint agency may participate in …

Sec. 4. (a) Each municipality, joint agency, or public utility shall own an undivided interest in any project in proportion to the amount of the money furnished or the value of property or other consideration supplied by it for the planning, development, acquisition, or construct…

Sec. 5. Sale of Capacity or Output by a Municipality. Whenever a municipality has capacity or output derived from its ownership share of a project or otherwise in excess of its current needs or which cannot be economically utilized immediately, it may sell or exchange the excess …

Sec. 6. Licenses and Approvals. Municipalities and joint agencies proposing to jointly plan, finance, develop, and operate a project are authorized to jointly or separately apply to any agency of the state or federal government for licenses, permits, certificates, or approvals. A…

Sec. 7. Authority to Contract for Energy Exchange. Municipalities participating in a project or projects are hereby authorized to enter into contracts for the exchange, interchange, wheeling, pooling, and transmission of electric power and energy produced by the project or projec…

Sec. 8. (a) The governing bodies of two (2) or more municipalities may, by resolution or ordinance, determine that it is in their best interests to create a joint agency, for the purpose of undertaking the planning, financing, ownership, and operation of a project or projects to …

Sec. 9. (a) Each joint agency shall have all of the rights and powers necessary or convenient to carry out the purposes and provisions of this chapter, including but not limited to the following: (1) To adopt bylaws for the regulation of the affairs and the conduct of its busines…

Sec. 1. The purposes of this compact are, through joint or cooperative action, to: (1) promote development and implementation of improvements to intercity passenger rail service in the Midwest; (2) coordinate interaction among Midwestern state elected officials and their designee…

Sec. 10. (a) The provisions of this compact are severable, and if a phrase, clause, sentence, or provision of this compact is declared to be contrary to the constitution of a compacting state or of the United States or the applicability of this compact to any government, agency, …

Sec. 11. On or before July 1, 2027, and July 1 biennially thereafter, the commission shall submit a report to the executive director of the legislative services agency, in an electronic format under IC 5-14-6, for review by the interim committee on government in accordance with I…

Sec. 2. As used in this chapter, "commission" means the Midwest interstate passenger rail compact commission established in section 3 of this chapter. As added by P.L.131-2000, SEC.1.

Sec. 3. (a) The Midwest interstate passenger rail compact commission is created to carry out the duties specified in this compact. (b) The manner of appointment of commission members, terms of office consistent with the terms of this compact, provisions for removal and suspension…

Sec. 4. (a) The duties of the commission are to: (1) advocate for the funding and authorization necessary to make passenger rail improvements a reality for the region; (2) identify and seek to develop ways that states can form partnerships, including those with rail industry and …

Sec. 5. (a) The commission shall annually elect from among its members: (1) a chair; (2) a vice chair, who may not be a resident of the state represented by the chair; and (3) any other officers approved in the commission bylaws. (b) The officers shall perform the functions and e…

Sec. 6. (a) The commission shall meet at least once in each calendar year and at other times as determined by the commission. (b) Commission business shall be conducted according to the procedures and voting rights specified in the bylaws. As added by P.L.131-2000, SEC.1.

Sec. 7. (a) Except as otherwise provided, the money necessary to finance the general operations of the commission in carrying forth its duties, responsibilities, and powers as stated in this chapter shall be appropriated to the commission by the compacting states, when authorized…

Sec. 8. (a) The states of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin are eligible to join this compact. (b) Upon approval of the commission, according to its bylaws, other states may also be declared e…

Sec. 9. (a) Withdrawal from this compact shall be by enactment of a statute repealing the compact and takes effect one (1) year after the effective date of the statute. (b) A withdrawing state is liable for any obligations that the withdrawing state may have incurred before the e…

Sec. 1. Any railroad company organized under the laws of Indiana, or created by consolidation of a company or companies organized under the laws of Indiana, and a company or companies organized under the laws of another state or states may lease or purchase, in whole or in part, …

Sec. 1. This chapter applies to the issuance of bonds by counties for purposes authorized by IC 8-16-3, IC 8-16-3.1, IC 8-16-5, and IC 8-17 through IC 8-20. This chapter does not apply to bonds issued under IC 8-18-21. As added by P.L.113-1989, SEC.9.

Sec. 10. The bonds are negotiable instruments, subject only to the provisions of the bonds relating to registration. As added by P.L.113-1989, SEC.9.

Sec. 11. Bonds issued under this chapter are exempt from taxation in Indiana under IC 6-8-5. As added by P.L.113-1989, SEC.9.

Sec. 12. Bonds issued by the county under this chapter are exempt from registration and other requirements of IC 23 and any other securities registration laws. As added by P.L.113-1989, SEC.9.

Sec. 13. The general assembly pledges to and covenants with the owner of any bonds issued under this chapter that the general assembly will not limit or alter the ability of the county to fulfill the terms of the agreements or pledges made with bondholders or in any way impair th…

Sec. 14. IC 6-1.1-20 does not apply to the issuance of bonds under this chapter. As added by P.L.113-1989, SEC.9.

Sec. 2. As used in this chapter, "bonds" has the meaning set forth in IC 36-1-2-2. As added by P.L.113-1989, SEC.9.

Sec. 3. (a) Upon request of the county executive, the county fiscal body may borrow money and issue bonds in the name of the county in principal amounts and maturities as the fiscal body determines necessary to provide sufficient funds for the purposes specified in IC 8-16 throug…