Ind. Code § 36-9-30-19 – Revenue bonds; application of proceeds; costs of facility

(a) All money received from any revenue bonds issued under this chapter, after reimbursements for preliminary expenses under section 16 of this chapter, shall be applied solely to the payment of the costs of the facilities acquired or constructed under this chapter. Any surplus of bond proceeds above that amount shall be paid into the fund established under section 18 of this chapter. The holders of the bonds have a lien on the money until it is applied in the manner prescribed by this section.
(b) For purposes of this section, costs of the facilities include:
1. (1) the cost of all property and rights considered necessary or convenient for installing, constructing, and equipping the facilities;
2. (2) interest on bonds before and during the acquisition, installation, construction, and equipment of the facilities, and for six (6) months after the start of collection of fees under this chapter;
3. (3) engineering and legal expenses;
4. (4) expenses for estimates of cost and revenues;
5. (5) expenses for surveys and plans;
6. (6) other expenses necessary or incidental to determining the feasibility or practicability of the method or methods to be used for the disposal of solid waste;
7. (7) administrative expenses; and
8. (8) other expenses necessary or incidental to financing under this chapter.
  [Pre-Local Government Recodification Citations: 19-2-1-11; 19-2-1-14.]
  As added by Acts 1981, P.L.309, SEC.106.