reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 7. Grant Anticipation Revenue Bonds and Notes › 8-14.5-7-3. "Grant Anticipation Revenue Bond"

Sec. 3. As used in this chapter, "grant anticipation revenue bond" or "grant anticipation revenue note" means a bond or note, respectively, secured by lease rentals relating to highway improvement projects and anticipated to be paid from federal highway revenues deposited in the grant anticipation fund.
As added by P.L.246-2005, SEC.83.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 7. Grant Anticipation Revenue Bonds and Notes › 8-14.5-7-4. "Highway Improvement Project"

Sec. 4. As used in this chapter, "highway improvement project" means a highway project for which the department may use federal highway revenues.
As added by P.L.246-2005, SEC.83.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 7. Grant Anticipation Revenue Bonds and Notes › 8-14.5-7-5. Issuance of Grant Anticipation Revenue Bonds or Notes

Sec. 5. The authority may, by resolution, before July 1, 2009, issue grant anticipation revenue bonds or notes for any purpose that is authorized by IC 8-14.5-6 and for which the department may use federal highway revenues.
As added by P.L.246-2005, SEC.83.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 7. Grant Anticipation Revenue Bonds and Notes › 8-14.5-7-6. Revenue Declaration

Sec. 6. (a) Before grant anticipation revenue bonds or notes may be issued under this chapter, the department shall prepare a revenue declaration that includes the department's determination that the amount of federal highway revenues received by the state in a particular state fiscal year will exceed the amount specified in subsection (c)(2) by at least eighteen percent (18%). Grant anticipation revenue bonds or notes may not be issued under this chapter unless the department makes the determination required under this subsection.
(b) The revenue declaration prepared under this section must provide a specified amount or percentage of federal highway revenues received by the state during a state fiscal year to be deposited in the grant anticipation fund and the number of years the deposits shall be made. A revenue declaration prepared under this section is subject to approval of the budget agency and the authority.
(c) The total amount of lease rentals securing grant anticipation revenue bonds or notes issued under this chapter and scheduled to be paid during any state fiscal year, determined as of the date of issuance of each series of grant anticipation revenue bonds or notes, may not exceed an amount equal to twenty-five percent (25%) of the remainder of:
(1) the total amount of federal highway revenues apportioned or allocated to the department during the federal fiscal year immediately preceding the state fiscal year in which the series of bonds or notes is issued; minus
(2) seven hundred thirty-four million eight hundred fifty thousand three hundred ninety dollars ($734,850,390), which is the total amount of federal highway revenues apportioned or allocated to the department during the federal fiscal year beginning October 1, 2003, and ending September 30, 2004.
As added by P.L.246-2005, SEC.83.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 7. Grant Anticipation Revenue Bonds and Notes › 8-14.5-7-7. Maximum Term of Bonds and Notes

Sec. 7. The term of grant anticipation revenue bonds or notes may not exceed twelve (12) years.
As added by P.L.246-2005, SEC.83.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 7. Grant Anticipation Revenue Bonds and Notes › 8-14.5-7-8. Application of Other Law

Sec. 8. All other provisions of IC 8-14.5-6 apply to the issuance of grant anticipation revenue bonds or notes under this chapter.
As added by P.L.246-2005, SEC.83.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 7. Grant Anticipation Revenue Bonds and Notes › 8-14.5-7-9. Indebtedness Limited to Authority

Sec. 9. Grant anticipation revenue bonds or notes:
(1) constitute the corporate obligations of the authority;
(2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision or limitation; and
(3) are payable solely as to both principal and interest from:
(A) the revenues from a lease to the department, if any;
(B) proceeds of bonds or notes, if any; or
(C) investment earnings on proceeds of bonds or notes, if any.
As added by P.L.246-2005, SEC.83.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 8. Railroad Crossing Remediation Projects › 8-14.5-8-1. Approval of Railroad Crossing Remediation Projects

Sec. 1. (a) The department may approve railroad crossing remediation projects under this chapter for financing under this article.
(b) The department shall establish a documented policy and procedure consistent with the requirements of IC 8-6-1 for making determinations of whether a project should be approved under this chapter.
As added by P.L.218-2017, SEC.68.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 8. Railroad Crossing Remediation Projects › 8-14.5-8-2. Requirement

Sec. 2. To approve a project under this chapter, the department must determine that the crossing is at a stage of critical need.
As added by P.L.218-2017, SEC.68.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 8. Railroad Crossing Remediation Projects › 8-14.5-8-3. Grade Separations

Sec. 3. A project under this chapter may include building a grade separation of the railroad if the department determines that is the best solution for the crossing.
As added by P.L.218-2017, SEC.68.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 8. Railroad Crossing Remediation Projects › 8-14.5-8-5. Authorization to Issue Bonds or Notes

Sec. 5. The authority may issue bonds or notes to finance a project approved by the department under this chapter using lease rentals for bond or note repayments. However, the annual payments on all the bonds and notes outstanding may not exceed ten million dollars ($10,000,000).
As added by P.L.218-2017, SEC.68.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 14.5. Lease Financing for Transportation Systems › Chapter 8. Railroad Crossing Remediation Projects › 8-14.5-8-6. Lease Rental Payments

Sec. 6. The department shall make lease rental payments from the state highway road construction and improvement fund established by IC 8-14-10.
As added by P.L.218-2017, SEC.68.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 1. Authorization to Purchase Toll Road Bonds › 8-15-1-1. Eligibility of Bonds

Sec. 1. Every financial institution, insurance company and trust fund, in addition to the investments now authorized by law, is authorized to invest any of its funds of any kind or character in any toll road revenue bonds of the state issued by the Indiana department of transportation pursuant to IC 8-15-2, and such bonds are hereby declared eligible for deposit by any financial institution, insurance company, or trust fund under any law of this state providing for the deposit of securities or funds.
Formerly: Acts 1953, c.131, s.1. As amended by Acts 1980, P.L.74, SEC.221; P.L.18-1990, SEC.127.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 1. Authorization to Purchase Toll Road Bonds › 8-15-1-2. Definitions

Sec. 2. (a) As used in this chapter, "financial institutions" means and includes any bank or trust company, credit union, bank of discount and deposit, savings bank, loan and trust and safe deposit company, trust company, savings association, mortgage guaranty company, and small loan company organized under any law of the state of Indiana.
(b) As used in this chapter, "insurance company" means and includes any stock, mutual, reciprocal, assessment or fraternal benefit company or society writing any life, fire, livestock, casualty, health, hospital, accident or bonding insurance or reinsurance, which company or society is organized under the laws of the state of Indiana.
(c) As used in this chapter, "trust fund" shall be limited to private trust funds.
Formerly: Acts 1953, c.131, s.2. As amended by P.L.42-1993, SEC.8; P.L.79-1998, SEC.15; P.L.136-2018, SEC.97.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 1. Authorization to Purchase Toll Road Bonds › 8-15-1-3. Construction of Act

Sec. 3. This chapter shall be liberally construed to effectuate the purpose of permitting investment in any such toll road bonds of this state and shall be construed as giving additional power and authority to every financial institution, insurance company, and trust fund to make such investments and for such investments to be eligible for deposit under law of this state, restrictions in statutes to the contrary notwithstanding; provided, however, that nothing contained in this chapter shall be construed to change any limitations as to amounts which may be invested in obligations of any one obligor as may be imposed by laws regulating the investments of various financial institutions, insurance companies, and trust funds.
Formerly: Acts 1953, c.131, s.3. As amended by P.L.66-1984, SEC.56.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-0.1. Application of Certain Amendments to Chapter

Sec. 0.1. The following amendments to this chapter apply as follows:
(1) The addition of section 1.1 of this chapter by P.L.116-1989 applies to all accounts receivable that are found to be uncollectible on July 1, 1989, and to accounts that are found to be uncollectible after June 30, 1989.
(2) The amendments made to section 5 of this chapter by P.L.133-2007 apply only to public works contracts entered into after June 30, 2007.
As added by P.L.220-2011, SEC.200.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-1. Purpose; Powers; Applicability to the Authority

Sec. 1. (a) In order to remove the handicaps and hazards on the congested highways in Indiana, to facilitate vehicular traffic throughout the state, to promote the agricultural and industrial development of the state, and to provide for the general welfare by the construction of modern express highways embodying safety devices, including center division, ample shoulder widths, long sight distances, multiple lanes in each direction, and grade separations at intersections with other highways and railroads, the authority may:
(1) subject to subsection (d), construct, reconstruct, maintain, repair, and operate toll road projects at such locations as shall be approved by the governor;
(2) in accordance with such alignment and design standards as shall be approved by the authority and subject to IC 8-9.5-8-10, issue toll road revenue bonds of the state payable solely from funds pledged for their payment, as authorized by this chapter, to pay the cost of such projects;
(3) finance, develop, construct, reconstruct, improve, or maintain improvements for manufacturing, commercial, or public transportation activities within a county through which a toll road passes;
(4) in cooperation with the Indiana department of transportation or a political subdivision, construct, reconstruct, or finance the construction or reconstruction of an arterial highway or an arterial street that is located within a county through which a toll road passes and that:
(A) interchanges with a toll road project; or
(B) intersects with a road or a street that interchanges with a toll road project;
(5) finance improvements necessary for developing transportation corridors in northwestern Indiana; and
(6) exercise these powers in participation with any governmental entity or with any individual, partnership, limited liability company, or corporation.
(b) Notwithstanding subsection (a), the authority shall not construct, maintain, operate, nor contract for the construction, maintenance, or operation of transient lodging facilities on, or adjacent to, such toll road projects.
(c) This chapter:
(1) applies to the authority only when acting for the purposes set forth in this chapter; and
(2) does not apply to the authority when acting under any other statute for any other purpose.
(d) Before the authority or an operator selected under IC 8-15.5 may enter into an agreement for the financing, construction, maintenance, or operation of a toll road project, the budget committee must first review the proposed agreement.
Formerly: Acts 1951, c.281, s.1; Acts 1959, c.285, s.1. As amended by Acts 1980, P.L.74, SECS.222, 223; P.L.109-1983, SEC.4; P.L.48-1986, SEC.3; P.L.18-1990, SEC.128; P.L.8-1993, SEC.143; P.L.89-1997, SEC.1; P.L.235-2005, SEC.115; P.L.214-2005, SEC.51; P.L.47-2006, SEC.8; P.L.1-2006, SEC.156; P.L.1-2007, SEC.80; P.L.163-2011, SEC.1; P.L.119-2012, SEC.92; P.L.94-2015, SEC.1; P.L.218-2017, SEC.69.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-1.1. Mandatory Transfer of Funds

Sec. 1.1. (a) A written agreement between the authority and a city, town, or county under section 1 of this chapter, or a similar government cooperative statute, may provide for a mandatory transfer of funds by the auditor of state under this section if one (1) of the parties becomes more than sixty (60) days late in making a payment required by the agreement.
(b) To obtain a mandatory transfer of funds, the party to whom the funds were to be paid under the terms of the written agreement must certify in writing to the auditor of state:
(1) that a written agreement between the parties authorizes the mandatory transfer of funds as provided in subsection (a);
(2) that the owing party was notified in writing of the amount owed;
(3) that the payment is more than sixty (60) days past due;
(4) the names of the parties; and
(5) the amount of the payment due.
(c) Upon receipt of a certificate as specified in subsection (b), the auditor of state shall:
(1) immediately notify the delinquent party of the claim; and
(2) if proof of payment is not furnished to the auditor of state within thirty (30) days after the delinquent party has been notified, transfer the unpaid amount from the delinquent party's allocations from the motor vehicle highway account to the other party.
(d) Transfers shall be made under subsection (c) until the unpaid amount has been paid in full under the terms of the agreement. However, the agreement may be amended if both the department and the unit agree to amortize the transfer over a period of time not to exceed five (5) years.
As added by P.L.116-1989, SEC.2.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-1.3. Procedures for Allocation of Money; Considerations in Prioritizing and Selecting Projects

Sec. 1.3. (a) The authority shall establish a written procedure for allocating money to projects described in section 1(a)(3) and 1(a)(4) of this chapter.
(b) The procedure established under this section must include at least the following:
(1) An application procedure to identify projects that qualify for funding.
(2) Criteria for prioritizing projects.
(3) Procedures for selecting projects.
(4) Procedures for reporting the results of the selection process and the status of projects to the interim study committee on fiscal policy established by IC 2-5-1.3-4 in an electronic format under IC 5-14-6.
(c) The prioritization and selection process under this section must give consideration to the following:
(1) The impact of the project on toll road usage.
(2) Consistency of the project with local transportation plans.
(3) The extent to which the project will have local financial participation relative to local available resources.
(4) The amount of vehicular traffic served.
(5) The potential local economic impact.
(6) Whether the project is deemed to be an emergency by the applicant and the authority.
As added by P.L.83-1996, SEC.2. Amended by P.L.53-2014, SEC.84.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-1.4. Selection of Projects Under Section 1 of Chapter After December 31, 1996, Under Written Procedures

Sec. 1.4. Projects initially funded under section 1(a)(3) and 1(a)(4) of this chapter after December 31, 1996, must be selected under the written procedures developed under section 1.3 of this chapter, as added by P.L.83-1996.
As added by P.L.220-2011, SEC.201.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-2. Pledge State Faith and Credit

Sec. 2. (a) Toll road revenue bonds issued under the provisions of this chapter:
(1) shall not be deemed to constitute a debt of the state or of any political subdivision thereof or a pledge of the faith and credit of the state or of any such political subdivision; and
(2) shall be payable soley from an allocation of money from the rural transportation road fund under IC 8-9.5-8-16 or from the funds pledged for their payment as authorized by this chapter, unless such bonds are refunded by refunding bonds issued under the provisions of this chapter, which refunding bonds shall be payable solely from funds pledged for their payment as authorized by this chapter.
(b) All such revenue bonds shall contain on the face thereof a statement to the effect that the bonds, as to both principal and interest, are not an obligation of the state of Indiana, or of any political subdivision thereof, but are payable solely from funds pledged for their payment, as authorized by this chapter.
(c) All expenses incurred in carrying out the provisions of this chapter shall be payable solely from an allocation of money from the rural transportation road fund under IC 8-9.5-8-16 or from funds provided under this chapter and nothing contained in this chapter shall be construed to authorize the authority to incur indebtedness or liability on behalf of or payable by the state or any political subdivision thereof.
Formerly: Acts 1951, c.281, s.2. As amended by Acts 1980, P.L.74, SECS.224, 225; P.L.109-1983, SEC.5; P.L.386-1987(ss), SEC.7.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-5.2. Prohibition of Sale, Conveyance, or Mortgage

Sec. 5.2. The authority may not sell, convey, or mortgage a toll road project.
As added by P.L.47-2006, SEC.10.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-5.5. Policing of Toll Roads

Sec. 5.5. (a) The authority may, if it determines to do so:
(1) employ its own police officers for the purpose of policing any toll road under its jurisdiction;
(2) designate one (1) or more of such officers for the purpose of policing any toll road under its jurisdiction; and
(3) designate one (1) of such officers as chief or superintendent.
(b) The police officers so employed by the authority are vested with all necessary police powers to enforce the provisions of the laws of the state of Indiana and without writ or warrant for violation thereof when committed in their presence. To this end, police officers employed by the authority shall be peace officers and shall have within the property limits of the toll road project the same powers with respect to the enforcement of laws as have sheriffs, constables, and police officers in their respective jurisdictions. Any warrant of arrest or search warrant issued by proper authority of the state may be executed by any police officers employed by the authority within the property limits of the toll road project.
(c) All uniformed police officers employed by the authority shall carry arms, and nonuniformed police officers employed by the authority may carry arms if in the performance of their duties.
Formerly: Acts 1971, P.L.99, SEC.8. As amended by Acts 1981, P.L.41, SEC.54; P.L.109-1983, SEC.8.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-7. Powers to Purchase

Sec. 7. The authority may:
(1) acquire by purchase, whenever it shall deem such purchase expedient, any land, property, rights, rights-of-way, franchises, easements, and other interests in lands as it may deem necessary or convenient for the construction and operation of any toll road project upon such terms and at such price as may be considered by it to be reasonable and can be agreed upon between the authority and the owner thereof, and to take title thereto in the name of the state;
(2) sell, transfer, and convey any such land or any interest therein so acquired, or any portion thereof, when the same shall no longer be needed for such purposes; and
(3) transfer and convey any such lands or interests therein as may be necessary or convenient for the construction and operation of any toll road project, or as otherwise required under this chapter.
Formerly: Acts 1951, c.281, s.7; Acts 1957, c.273, s.2. As amended by Acts 1980, P.L.74, SEC.231; P.L.109-1983, SEC.10.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-8. Powers to Appropriate

Sec. 8. The authority may acquire by appropriation any land, property, rights, rights-of-way, franchises, easements, or other property necessary or proper for the construction or the efficient operation of any toll road project in the manner provided by IC 8-23-7. However, a compensation for the property so taken shall first be made in money as provided by law. Nothing in this chapter shall authorize the authority to take or disturb property or facilities belonging to any public utility or to a common carrier engaged in interstate commerce, which property or facilities are required for the proper and convenient operation of the public utility or common carrier, unless provision is made for the restoration, relocation, or duplication of the property or facilities elsewhere at the sole cost of the authority excepting, however, cases in which the equipment or facilities are located within the limits of existing highways or public thoroughfares being constructed, reconstructed, or improved under the provisions of this chapter.
Formerly: Acts 1951, c.281, s.8. As amended by Acts 1980, P.L.74, SEC.232; P.L.109-1983, SEC.11; P.L.18-1990, SEC.131.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-10. Toll Road Revenue Refunding Bonds

Sec. 10. (a) Subject to IC 8-9.5-8-10, the authority may provide for the issuance of toll road revenue refunding bonds of the state payable solely from the funds provided by this chapter for payment for the purpose of:
(1) refunding any bonds then outstanding which shall have been issued under the provisions of this chapter, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds; and
(2) if deemed advisable by the authority, for the additional purpose of constructing improvements, extensions, or enlargements of the toll road project in connection with which the bonds to be refunded shall have been issued.
(b) The issuance of such bonds, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties, and obligations of the authority in respect of the same, shall be governed by the provisions of this chapter insofar as the same may be applicable.
Formerly: Acts 1951, c.281, s.10. As amended by Acts 1980, P.L.74, SECS.235, 236; P.L.109-1983, SEC.13.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-10.5. Toll Road Succeeding Lien Bonds

Sec. 10.5. (a) If at any time all revenues are pledged to secure the payment of any toll road revenue bonds then outstanding, the authority, rather than providing for the issuance of another series of bonds equally secured by a pledge of such revenues or for immediate refunding of such bonds, may as it considers it advisable, provide by resolution for the issuance of toll road succeeding lien bonds of the state for the purpose of paying all or any part of the cost of any one (1) or more toll road projects, or for the present or future refunding of part or all of the outstanding toll road revenue bonds, or for both purposes.
(b) Notwithstanding any other provision of this chapter, revenues shall not be considered to be pledged for the payment of such succeeding lien bonds, including the interest thereon, so long as any of such prior bonds are outstanding but, upon retirement of such prior bonds, such revenues shall be subjected immediately to a pledge securing the succeeding lien bonds by the terms of the trust agreement under which such succeeding lien bonds are issued without any further action by the authority.
(c) Succeeding lien bonds must provide that, pending payment of all such prior outstanding bonds, interest on the succeeding lien bonds shall be paid solely from the portion of the proceeds of the succeeding lien bonds designated for the payment of capitalized interest and from the earnings on such proceeds. After such prior outstanding bonds have been redeemed or retired, the principal of, premium, if any, and the interest on, the succeeding lien bonds shall be payable solely from the revenues and other funds pledged for such payment.
(d) The issuance and sale of succeeding lien bonds, the maturities and other details thereof, the rights of the holders thereof, and the rights, duties and obligations of the authority with respect thereto, shall be governed by the provisions of this chapter insofar as the same may be applicable, and the authority need not comply with the requirements of any other law applicable to the issuance of bonds other than as set forth in this chapter.
As added by Acts 1980, P.L.74, SEC.237. Amended by Acts 1981, P.L.41, SEC.55; P.L.109-1983, SEC.14.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-11. Journal of Authority

Sec. 11. All final actions of the authority shall be journalized, and the journal shall be open to the inspection of the public at all reasonable times.
Formerly: Acts 1951, c.281, s.11. As amended by P.L.109-1983, SEC.15.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-12. Taxation

Sec. 12. (a) The exercise of the powers granted by this chapter will be in all respects for:
(1) the benefit of the people of the state;
(2) the increase of their commerce and prosperity; and
(3) the improvement of their health and living conditions.
(b) As the operation and maintenance of toll road projects by the authority will constitute the performance of essential governmental functions, the authority shall not be required to pay any taxes or assessments upon any toll road project or any property acquired or used by the authority under the provisions of this chapter or upon the income therefrom.
(c) The bonds issued under the provisions of this chapter, their transfer, and the income therefrom (including any profit made on the sale thereof) shall at all times be free from taxation within the state.
Formerly: Acts 1951, c.281, s.12. As amended by Acts 1980, P.L.74, SEC.238; P.L.109-1983, SEC.16.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-13. Trust Agreements Securing Bond Issue

Sec. 13. (a) In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state.
(b) Any such trust agreement may pledge or assign the tolls and other revenue to be received from such project or any other project or projects constructed under the provisions of this chapter, subject only to valid prior pledges and except as provided by this chapter with respect to succeeding lien bonds, but shall not convey or mortgage any toll road project or any part thereof.
(c) Any such trust agreement or any resolution providing for the issuance of such bonds may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the authority in relation to:
(1) the acquisition of property and the construction, improvement, maintenance, repair, operation, and insurance of the toll road project or projects in connection with which such bonds shall have been authorized, or of which the revenues are pledged;
(2) the rates of toll to be charged, and the custody, safeguarding, and application of all moneys; and
(3) the employment of consulting engineers in connection with the construction or operation of such project or projects.
(d) It shall be lawful for any bank or trust company incorporated under the laws of the state which may act as depository of the proceeds of bonds or of revenue to furnish such indemnifying bonds or to pledge such securities as may be required by the authority.
(e) Any such trust agreement may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action by bondholders as is customary in trust agreements or trust indentures securing bonds or debentures of corporations. In addition, any such trust agreement may contain such other provisions as the authority may deem reasonable and proper for the security of the bondholders.
(f) All expenses incurred in carrying out the provisions of any such trust agreement may be treated as a part of the cost of the operation of the toll road project or projects.
Formerly: Acts 1951, c.281, s.13; Acts 1971, P.L.99, SEC.3. As amended by Acts 1980, P.L.74, SECS.239, 240; P.L.109-1983, SEC.17.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-14.5. Tolls

Sec. 14.5. (a) Subject to the provisions and requirements of any trust agreement providing for the issuance of toll road revenue bonds and only to the extent permitted by such trust agreement, the authority shall fix the tolls for any toll road under its jurisdiction.
(b) Subsection (a) does not apply to tolls fixed, authorized, or established in accordance with a public-private agreement under IC 8-15.5.
Formerly: Acts 1971, P.L.99, SEC.9. As amended by Acts 1980, P.L.74, SECS.243, 244; P.L.109-1983, SEC.19; P.L.214-2005, SEC.52; P.L.47-2006, SEC.12.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-14.7. Appropriations to Development Authority

Sec. 14.7. (a) As used in this section, "development authority" refers to the development authority established under IC 36-7.5-2-1.
(b) An appropriation made by the general assembly to the development authority may be distributed to the development authority only if all transfers required from cities and counties to the development authority under IC 36-7.5-4-2 have been made.
(c) An appropriation made by the general assembly to the development authority may be distributed to the development authority only after:
(1) the budget committee has reviewed; and
(2) the director of the office of management and budget has approved;
the comprehensive strategic development plan submitted in accordance with IC 36-7.5-3-4.
(d) If the Indiana Toll Road is sold or leased before January 1, 2008 (other than a lease to the department), and the sale or lease agreement does not require the purchaser or lessee to continue making the distributions required by subsection (b), the treasurer of state shall pay the amount, if any, appropriated by the general assembly to the development authority revenue fund established under IC 36-7.5-4-1.
(e) Amounts distributed or paid to the development authority under this section may be used for any purpose of the development authorized under IC 36-7.5.
As added by P.L.214-2005, SEC.53. Amended by P.L.47-2006, SEC.13; P.L.189-2018, SEC.83.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-15. Deposit of Funds

Sec. 15. (a) All moneys received pursuant to the authority of this chapter, whether as proceeds from the sale of bonds or as revenues, shall be deemed to be trust funds, to be held and applied solely as provided in this chapter. Such funds shall be kept in depositories as selected by the authority and may be invested until expended, all as provided by law.
(b) The resolution authorizing the issuance of bonds of any issue or the trust agreement securing such bonds shall provide that any officer to whom, or any bank or trust company to which, such moneys shall be paid shall:
(1) act as trustee of such moneys; and
(2) hold and apply the same for the purposes of this chapter, subject to such regulations as this chapter and such resolution or trust agreement may provide.
(c) This section does not apply to money paid or received with respect to a toll road project that is the subject of a public-private agreement under IC 8-15.5.
Formerly: Acts 1951, c.281, s.15. As amended by Acts 1980, P.L.74, SECS.245, 246; P.L.109-1983, SEC.20; P.L.47-2006, SEC.14.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-16. Rights of Bondholders

Sec. 16. Any holder of bonds issued under the provisions of this chapter or any of the coupons appertaining thereto, and the trustee under any trust agreement, except to the extent the rights granted by this chapter may be restricted by any applicable trust agreement, may:
(1) either at law or in equity, by suit, action, mandamus, or other proceedings, protect and enforce any and all rights under the laws of the state or granted by this chapter or under any applicable trust agreement or the resolution authorizing the issuance of such bonds; and
(2) enforce and compel the performance of all duties required by this chapter or by any applicable trust agreement or resolution to be performed by the authority or by any officer thereof, including the fixing, charging, and collecting of tolls.
Formerly: Acts 1951, c.281, s.16; Acts 1971, P.L.99, SEC.5. As amended by Acts 1980, P.L.74, SEC.247; P.L.109-1983, SEC.21.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-17. Power to Adopt Rules and Regulations

Sec. 17. The authority shall have power to adopt bylaws and, under IC 4-22-2, rules and regulations as it may deem advisable for:
(1) the control and regulation of traffic on any toll road project;
(2) the protection and preservation of property under its jurisdiction and control; and
(3) the maintenance and preservation of good order within the property under its control.
However, such rules and regulations shall provide that public police officers shall be afforded ready access, while in the performance of their official duty, to all property under the jurisdiction of the authority without the payment of tolls.
Formerly: Acts 1951, c.281, s.17. As amended by Acts 1978, P.L.2, SEC.855; Acts 1980, P.L.74, SEC.248; P.L.109-1983, SEC.22.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-18. Maintenance of Toll Road Projects

Sec. 18. (a) Each toll road project as defined in section 4(4) of this chapter, when constructed and opened to traffic shall be maintained and kept in good condition and repair by the authority. Each such project shall also be policed and operated by such force of police, toll-takers, and other operating employees as the authority may in its discretion employ.
(b) All public or private property damaged or destroyed in carrying out the powers granted by this chapter shall be restored or repaired and placed in its original condition as nearly as practicable or adequate compensation made therefor out of funds provided under the authority of this chapter.
(c) All counties, cities, towns, townships, and other political subdivisions and all public agencies and commissions of the state, notwithstanding any contrary provision of law, are authorized and empowered to lease, lend, grant, or convey to the authority at its request upon such terms and conditions as the proper authorities of such counties, cities, towns, townships, other political subdivisions or public agencies and commissions of the state may deem reasonable and fair and without the necessity for an advertisement, order of court, or other action of formality, other than the regular and formal action of the authorities concerned, any real property owned by any such municipality or governmental subdivision which may be necessary or convenient to the effectuation of the authorized purposes of the authority under this chapter.
Formerly: Acts 1951, c.281, s.18; Acts 1957, c.281, s.1. As amended by Acts 1978, P.L.6, SEC.17; Acts 1980, P.L.74, SEC.251; Acts 1981, P.L.41, SEC.56; P.L.109-1983, SEC.24; P.L.32-2021, SEC.19.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-19. Removal of Tolls

Sec. 19. (a) The authority may, after adopting a resolution and after receiving the governor's approval, at any time determine under IC 8-23-7 that a toll road project constructed or operated by the authority, other than a toll road project that is subject to a public-private agreement under IC 8-15.5, should become a part of the system of state highways free of tolls or become a tollway under IC 8-15-3.
(b) Any resolution as to any project described in subsection (a) shall not become effective until all bonds to which the revenues of any project were pledged for payment, together with all interest thereon, is paid, or a sufficient amount for the payment of all bonds and the interest thereon to maturity is set aside in trust for the benefit of bondholders.
(c) Until any resolution is adopted by the authority under subsection (a) and becomes effective as provided in subsection (b), and subject to the terms of any public-private agreement under IC 8-15.5, any project constructed by the authority or its predecessors remains under the jurisdiction of the authority and the authority shall continue to maintain and operate the project and levy and collect tolls as provided in this chapter. Tolls on any project may be continued after the date of the payment of the principal of and interest on bonds issued for the construction of that project.
Formerly: Acts 1951, c.281, s.19; Acts 1971, P.L.99, SEC.6. As amended by Acts 1980, P.L.74, SEC.252; P.L.109-1983, SEC.25; P.L.386-1987(ss), SEC.12; P.L.18-1990, SEC.132; P.L.47-2006, SEC.16.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-20. Study of Toll Road Projects

Sec. 20. (a) The department shall expend out of any funds available for the purpose such money as may be necessary for the study of any toll road project or projects and to use its engineering and other forces, including consulting engineers and traffic engineers, for the purpose of effecting such study.
(b) All such expenses incurred by the department before the issuance of toll road revenue bonds under the provisions of this chapter shall be paid by the department and charged to the appropriate toll road project or projects, and the department shall keep proper records and accounts showing each amount so charged.
(c) Upon the sale of toll road revenue bonds for any project or projects, the fund so expended by the department in connection with such project or projects shall be reimbursed to the department from the proceeds of bonds. If any project or projects for which a study has been made is abandoned for any reason, then the costs of any such study or studies shall be paid out of any uncommitted funds of the authority, and if not so paid, the cost of any such study or studies shall be included in any subsequent issue of bonds for any other project or projects unless such inclusion would so increase the amount of bonds to be issued that in the judgment of the authority such inclusion would render the bonds unsaleable.
(d) In conducting any study of the feasibility of a toll road project, the department shall include an investigation of the economic effect of the construction of a highway on the communities served by that highway. The department shall determine the extent of the economic enhancement that would result from the construction of a toll road project for the purpose of quantifying the enhancement.
Formerly: Acts 1951, c.281, s.20; Acts 1971, P.L.99, SEC.7. As amended by Acts 1980, P.L.74, SEC.253; P.L.109-1983, SEC.26; P.L.68-1988, SEC.14.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-21. Supplemental Nature of Chapter

Sec. 21. This chapter shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby, and shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of any powers existing on March 7, 1951; provided, however, that the issuance of toll road revenue bonds or toll road revenue refunding bonds under the provisions of this chapter need not comply with the requirements of any other law applicable to the issuance of bonds.
Formerly: Acts 1951, c.281, s.21. As amended by P.L.66-1984, SEC.57.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-22. Construction of Chapter

Sec. 22. This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes thereof.
Formerly: Acts 1951, c.281, s.22. As amended by P.L.66-1984, SEC.58.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-24. Feasibility Study of Construction of Additional Interchanges Along Toll Roads

Sec. 24. (a) The authority shall cause a study to be made as to the feasibility of construction of additional interchanges along toll roads constructed or operated by the authority, and near population and traffic generating centers, including but not limited to, cities of the second class as defined by law.
(b) All such studies shall be made by the consulting engineer or engineers and the traffic engineer or engineers retained from time to time by the authority in connection with other of its duties under this chapter.
(c) Each study when completed shall be provided to the Indiana department of transportation.
As added by Acts 1976, P.L.31, SEC.1. Amended by Acts 1978, P.L.6, SEC.18; Acts 1980, P.L.74, SEC.256; P.L.109-1983, SEC.28; P.L.18-1990, SEC.134.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-25. Separate Contracts for Similar Purposes Under Ic 8-15-2-5(7) Restricted; Bidding Requirement

Sec. 25. Unless the authority publicly declares an emergency, it may not during any six (6) month period make separate contracts or agreements with another party for similar purposes under section 5(7) of this chapter without advertising for and accepting public bids, if the aggregate cost of the separate contracts or agreements is more than ten thousand dollars ($10,000).
As added by Acts 1977, P.L.112, SEC.2. Amended by Acts 1980, P.L.74, SEC.257; Acts 1982, P.L.6, SEC.9; Acts 1982, P.L.62, SEC.11; P.L.109-1983, SEC.29.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-26. Actions Violating Rights of Holders or Owners Prohibited

Sec. 26. Notwithstanding any other provision of this chapter, the authority may not take actions that would violate the rights of any holders or owners of outstanding bonds of the authority.
As added by P.L.48-1986, SEC.5.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-27. Funds Generated by Tolls; Exclusive Uses

Sec. 27. (a) Except as provided in subsection (b), and notwithstanding any other provision of this chapter, funds generated by tolls or any other means from a toll road project that was in existence and in use on or before January 1, 1986, shall be used exclusively for purposes that are authorized and described in this chapter.
(b) If the authority enters into a public-private agreement with respect to a toll road project under IC 8-15.5, funds generated by tolls or any other means from that project shall be used as provided in IC 8-15.5.
As added by P.L.48-1986, SEC.6. Amended by P.L.47-2006, SEC.17.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 2. Operation and Financing of Toll Roads › 8-15-2-28. Exercise of Certain Powers by Operator

Sec. 28. If the authority is a party to a public-private agreement under IC 8-15.5, the authority may authorize the operator under that agreement to exercise any or all of the powers specified in sections 1, 6, 18, and 24 of this chapter, subject to the terms of that agreement.
As added by P.L.47-2006, SEC.18.
2023 Indiana Code › Title 8. Utilities and Transportation › Article 15. Toll Roads › Chapter 3. Tollways › 8-15-3-0.5. "Authority"

Sec. 0.5. As used in this chapter, "authority" refers to the Indiana finance authority established by IC 5-1.2-3.
As added by P.L.218-2017, SEC.70. Amended by P.L.189-2018, SEC.84.