Sec. 7. (a) Except as provided by subsection (b), the debt issuance report required by section 6 of this chapter must be submitted on a form prescribed by the department and must include the following information concerning bonds:

(1) The par value of the bond issue.

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Terms Used In Indiana Code 5-1-18-7

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • bonds: means any bonds, notes, or other evidences of indebtedness, including guaranteed energy savings contracts and advances from the common school fund, whether payable from property taxes, other taxes, revenues, or any other source. See Indiana Code 5-1-18-1
  • department: refers to the department of local government finance. See Indiana Code 5-1-18-2
  • political subdivision: has the meaning set forth in IC 36-1-2-13. See Indiana Code 5-1-18-5
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(2) A schedule of maturities and interest rates.

(3) The purposes of the bond issue.

(4) The itemized costs of issuance information, including fees for bond counsel, other legal counsel, underwriters, and financial advisors.

(5) The type of bonds that are issued.

(6) Other information as required by the department.

A copy of the official statement and bond covenants, if any, must be supplied with this information.

     (b) A political subdivision or a person acting on behalf of a political subdivision shall submit the debt issuance report information described in subsection (a) to the department electronically, in the manner prescribed by the department.

     (c) For taxes due and payable for an assessment date after January 15, 2012, the department may not approve an appropriation or a property tax levy that is associated with a debt unless the debt issuance report for the debt has been submitted to the department, unless the department has granted a waiver under subsection (d).

     (d) The department may for good cause grant a waiver to the requirement under subsection (c) and approve an appropriation or a property tax levy, notwithstanding a political subdivision’s failure to submit a required debt issuance report.

As added by P.L.199-2005, SEC.2. Amended by P.L.137-2012, SEC.5.

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