Indiana Code 6-3.6-6-18. Pledge of certified shares; payment of bonds; lease payments; approval by fiscal body

Sec. 18. A civil taxing unit may pledge its certified shares to the payment of bonds or to lease payments for:

(1) any purpose of the civil taxing unit;

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Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}

(2) any purpose of another governmental entity located in any part in the county, including a governmental entity organized on a regional basis; or

(3) any purpose for which certified shares may be used under IC 6-3.6-10.

The pledge must be approved in an ordinance adopted by the fiscal body of the political subdivision.

As added by P.L.243-2015, SEC.10.