Sec. 23. (a) Bonds issued under this chapter shall be issued in the name of the commission and must recite on the face of each bond that the principal of and interest on the bond are payable solely from revenues pledged for their payment and are not an obligation of the state or of any other political subdivision of the state.

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Terms Used In Indiana Code 14-13-2-23

  • commission: refers to the Little Calumet River basin development commission created by this chapter. See Indiana Code 14-13-2-2
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
     (b) The chairman of the commission shall execute the bonds, and the secretary of the commission shall affix and attest the seal of the commission.

     (c) Coupons attached to the bonds must bear the facsimile signature of the chairman of the commission.

[Pre-1995 Recodification Citation: 14-6-29.5-9(f).]

As added by P.L.1-1995, SEC.6. Amended by P.L.106-2012, SEC.15.

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