Indiana Code 8-9.5-8-11. Issuance of additional bonds
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Sec. 11. Notwithstanding section 10 of this chapter, if:
(2) the trust agreement securing the bond issue provides that additional bonds may be issued to secure additional funds to provide the amount necessary to complete the project;
(1) a bond issue of the authority provides an amount less than the amount necessary to complete the toll road project or the toll bridge project for which the bonds were issued; and
Terms Used In Indiana Code 8-9.5-8-11
- Authority: refers to the Indiana finance authority established by Indiana Code 8-9.5-8-1
- Toll bridge: means a bridge with approaches, avenues of access, fills, causeways, and connecting bridges or ferries under IC 8-16-1. See Indiana Code 8-9.5-8-1
- Toll road project: has the meaning specified in IC 8-15-2-4(4). See Indiana Code 8-9.5-8-1
the authority may, without the approval of the parties listed in section 10 of this chapter, issue additional bonds to provide the funds necessary to complete the project.
As added by P.L.109-1983, SEC.3.