Indiana Code 36-10-10-21. Bonds; application of proceeds; lien
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Terms Used In Indiana Code 36-10-10-21
- Lien: A claim against real or personal property in satisfaction of a debt.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
Sec. 21. All money received from any bond issued under this chapter, after reimbursement and repayment to the city of all amounts advanced for preliminary expenses as provided in section 9 of this chapter, shall be applied to the payment of the costs of site acquisition and construction and equipment of the convention center for which the bonds are issued, including incidental expenses, and may include interest during construction and for a period of one (1) year thereafter. A lien exists on all money, until so applied, in favor of the holders of the bonds or the trustees.
As added by Acts 1982, P.L.218, SEC.4.