reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-21. Bonds; Application of Proceeds; Lien

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.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-22. Bonds; Trust Indenture

Sec. 22. In the discretion of the board, the bonds may be secured by a trust indenture between the authority and a corporate trustee, which may be any trust company or national or state bank within Indiana having trust powers. The trust indenture may mortgage all or part of the land, convention center, or both for which the bonds are issued. The trust indenture may contain the provisions for protecting and enforcing the rights and remedies of the bondholders that are reasonable and proper, including covenants setting forth the duties of the authority and board in relation to the construction of the convention center, its insurance, and the custody, safeguarding, and application of all money received or to be received by the authority due to the convention center financed by the issuance of the bonds. The indenture may set forth the rights and remedies of the bondholders and trustee and provisions restricting the individual right of action of bondholders. Within the limits of this chapter, the board may provide by resolution or in the trust indenture for the payment of the proceeds of the sale of the bonds to an officer, board, or depository as it determines for the custody of them and for the method of disbursement, with safeguards and restrictions that it determines.
As added by Acts 1982, P.L.218, SEC.4.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-23. Tax Levy by City to Pay Lease Rental

Sec. 23. (a) The legislative body of a city that has entered into an approved lease contract under this chapter shall annually levy a tax sufficient to produce each year the necessary revenues that, with other available money, are sufficient to pay the lease rental provided to be paid in the lease from taxes.
(b) In fixing and determining the amount of the necessary levy to pay lease rental payable from taxes, the legislative body may take into consideration amounts that have been transferred from the net revenues of the convention center to a fund for payment of lease rental. This chapter does not relieve the city from the obligation to pay from taxes any lease rental payable from taxes if other funds are not available for that purpose. The tax levies are reviewable by other bodies vested by statute with authority to ascertain that the levies are sufficient to raise the amount that, with other money available, will be sufficient to meet the rental which under the lease contract is payable from taxes. The annual lease rental shall be paid semiannually to the authority or to the corporate trustee under any trust indenture following settlements of tax collections.
As added by Acts 1982, P.L.218, SEC.4.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-24. Tax Exemption

Sec. 24. All:
(1) property owned by the authority;
(2) revenues of the authority; and
(3) bonds or other securities issued by the authority, the interest on them, the proceeds received by a holder from the sale of bonds to the extent of the holder's cost of acquisition, proceeds received upon redemption prior to maturity, proceeds received at maturity, and the receipt of interest and proceeds;
are exempt from taxation in Indiana for all purposes except the financial institutions tax imposed under IC 6-5.5.
As added by Acts 1982, P.L.218, SEC.4. Amended by P.L.21-1990, SEC.59; P.L.254-1997(ss), SEC.36; P.L.79-2017, SEC.88.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-25. Handling and Expenditure of Funds; Audit; Employment of Construction Manager; Surety Bonds of Officers and Employees

Sec. 25. (a) Unless provided otherwise, all funds coming into possession of the authority shall be deposited, held, and secured or invested in accordance with the general statutes relating to the handling of public funds. The handling and expenditure of funds coming into possession of the authority is subject to audit and supervision by the state board of accounts. All contracts for construction and equipment of any building shall be let in accordance with the general statutes relating to public contracts.
(b) The board may employ a construction manager in connection with the project in the same manner as other professional advisers are employed.
(c) Any officer or employee of the authority authorized to receive, disburse, or in any way handle funds or negotiable securities of the authority shall execute a bond payable to the state, with surety to consist of a surety or guaranty corporation qualified to do business in Indiana, in an amount determined by the board. The bond shall be conditioned upon the faithful performance of the officer's or employee's duties and the accounting for all money and property that may come into the officer's or employee's hands or under the officer's or employee's control. The cost of the bonds shall be paid out of funds of the authority.
(d) The records of the authority are public records.
As added by Acts 1982, P.L.218, SEC.4. Amended by P.L.127-2017, SEC.390.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-26. Liquidation; Procedure

Sec. 26. An authority may be liquidated after redemption of all of its securities, payment of all of its debts, and termination of all of its leases if the board files a report with the judge of the circuit court, superior court, or probate court showing those facts and stating that liquidation would be in the best public interest. If the court finds those facts to be true, it shall make an order book entry ordering the authority liquidated.
As added by Acts 1982, P.L.218, SEC.4. Amended by P.L.84-2016, SEC.198.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-27. Construction of Addition to Convention Center by City; Law Applicable; Financing

Sec. 27. The city may construct an addition to the convention center leased by it under this chapter. The construction of an addition is subject to all statutes generally applicable to the construction of an addition to a city building owned by a city. In order to provide money for such purposes, a city may issue its general obligation bonds or appropriate money from its general fund or from any other funds or money available that could be used for such purposes as if the building were owned instead of leased by the city.
As added by Acts 1982, P.L.218, SEC.4.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-28. Additions to Convention Center; Party Wall Agreements

Sec. 28. A city and an authority that enter into a lease under this chapter may enter into party wall agreements or other agreements concerning the attaching of an addition or additions to a convention center. The agreement shall be recorded in the office of the recorder of the county in which the building is located. The agreement may provide for an easement or license to construct a part of an addition over or above any building.
As added by Acts 1982, P.L.218, SEC.4.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-29. Civic Center Board of Managers; Creation; Duties; Organization

Sec. 29. (a) The city legislative body shall adopt an ordinance creating a city board of nine (9) members to be known as the "Civic Center Board of Managers". The board of managers shall supervise, manage, operate, and maintain:
(1) the convention center and its programs; and
(2) any other public facility owned or leased by the city or by an agency of it.
(b) A person appointed to the board of managers must be at least eighteen (18) years of age and a resident of the county in which the city is located. Five (5) of the managers shall be appointed by the city executive, and four (4) of the managers shall be appointed by the city legislative body. The managers serve for terms of three (3) years.
(c) Notwithstanding subsection (b), initial terms of the managers appointed by the executive are as follows:
(1) One (1) manager for a term of one (1) year.
(2) Two (2) managers for terms of two (2) years.
(3) Two (2) managers for terms of three (3) years.
(d) Notwithstanding subsection (b), the initial terms of the managers appointed by the city legislative body are as follows:
(1) One (1) manager for a term of one (1) year.
(2) Two (2) managers for terms of two (2) years.
(3) One (1) manager for a term of three (3) years.
(e) A manager may be removed for cause by the appointing authority. Vacancies shall be filled by the appointing authority, and any person appointed to fill a vacancy serves for the remainder of the vacated term. The managers may not receive salaries, but shall be reimbursed for any expenses necessarily incurred in the performance of their duties.
(f) The board of managers shall annually elect officers to serve during the calendar year. The board of managers may adopt resolutions and bylaws governing its operations and procedure and may hold meetings as often as necessary to transact business and to perform its duties. A majority of the managers constitutes a quorum.
As added by Acts 1982, P.L.218, SEC.4.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-31. Board of Managers; Preparation and Approval of Annual Budget; Approval of Expenditures

Sec. 31. (a) The board of managers shall prepare a budget for each calendar year governing the projected operating expenses, the estimated income, and reasonable reserves. It shall submit that budget for review, approval, or addition to the city legislative body.
(b) The board of managers may not make expenditures except as provided in the approved budget, and all additional expenditures are subject to approval by the city legislative body.
(c) Payments to the users of the convention center or a part of it that constitute a contractual share of box office receipts are not considered an operating expense or an expenditure within the meaning of this section, and the board of managers may make those payments without approval of the city executive or of the city legislative body.
As added by Acts 1982, P.L.218, SEC.4.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-32. Board of Managers; Controller and Assistant Controller; Duties

Sec. 32. (a) The city controller shall serve as controller of the board of managers and is the official custodian of all funds and assets of the board of managers for proper safeguarding and accounting. The controller shall, with the approval of the board of managers, appoint an assistant controller to act as auditor for the board of managers.
(b) The assistant controller is the official custodian of all books of account and other financial records of the board of managers and has the other powers and duties that are delegated by the city controller and the lesser powers and duties that the board of managers prescribes. The assistant controller, and any other employee or member of the board of managers authorized to receive, collect, or expend money, shall give bond for the faithful performance and discharge of all duties required of the assistant controller, employee, or board member in an amount and with surety and other conditions that are prescribed and approved by the board of managers.
(c) The assistant controller shall keep an accurate account of:
(1) all money due the convention center and the board of managers; and
(2) all money received, invested, and disbursed;
in accordance with generally recognized governmental accounting principals and procedures. All accounting forms and records shall be prescribed or approved by the state board of accounts. The assistant controller shall issue all warrants for the payment of money from the funds of the board of managers in accordance with procedures prescribed by the board of managers, but a warrant may not be issued for the payment of any claim until an itemized and verified statement of the claim has been filed with the controller, who may require evidence that all amounts claimed are justly due. All warrants shall be countersigned by the city controller or by the executive manager. Payroll and similar warrants may be executed with facsimile signatures.
(d) If the board of managers or the city has entered into any agreement to lease convention center facilities from the civic center building authority, the controller or assistant controller shall pay the lease rental to the authority within a reasonable period before the date on which principal or interest on any bonds outstanding issued under this chapter becomes due. The assistant controller shall submit to the board of managers at least annually a report of the assistant controller's accounts exhibiting the revenues, receipts, and disbursements and the sources from which the revenues and receipts were derived and the purpose and manner in which the disbursements were made. The board of managers may require that the report be prepared by a designated, independent certified public accountant. Handling and expenditure of funds is subject to audit and supervision by the state board of accounts.
As added by Acts 1982, P.L.218, SEC.4. Amended by P.L.127-2017, SEC.391.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 10. Civic Center Building Authority in South Bend or Mishawaka › 36-10-10-33. Board of Managers; Conflicts of Interest

Sec. 33. Persons serving on the board of managers shall disclose any pecuniary interest, direct or indirect, in any employment, financing agreement, or other contract made under this chapter before any action is taken on it by the board of managers. Any manager having a pecuniary interest may not vote on the matter. Real property acquired under this chapter in which a manager has a pecuniary interest may be acquired by the board of managers only by gift or condemnation.
As added by Acts 1982, P.L.218, SEC.4.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-1. Application of Chapter

Sec. 1. This chapter applies to a city having a population of more than sixty-nine thousand (69,000) and less than sixty-nine thousand five hundred (69,500).
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.12-1992, SEC.197; P.L.170-2002, SEC.177; P.L.119-2012, SEC.242; P.L.104-2022, SEC.223.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-2. Definitions

Sec. 2. As used in this chapter:
"Authority" refers to a building authority created under this chapter.
"Building" means a structure or a part of a structure used for a civic center or a facility that is owned by the city and used by a professional sports franchise, including the site, landscaping, parking, heating facilities, sewage disposal facilities, and other related appurtenances and supplies necessary to make the building suitable for use and occupancy.
"Governmental entity" means a state agency, state university, or political subdivision.
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.178-2002, SEC.136.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-3. Creation; Procedure; Issuance of General Obligation Bonds by City for Construction of Civic Center Prohibited

Sec. 3. (a) The city legislative body may adopt an ordinance to create a separate municipal corporation under this chapter known as the "_________ Building Authority" (inserting the name of the city) to finance, construct, equip, operate, and lease land and buildings to the governmental entities within the county in which the authority is created.
(b) The clerk of the city shall certify a copy of the ordinance and file the copy with the county recorder of the county in which the authority is created. When certified and filed, the ordinance is evidence in a civil action of the creation of the authority.
(c) The city may not issue general obligation bonds of the city to finance the cost, in whole or in part, of the construction or acquisition of any building for use as a civic center. For purposes of this section, the city includes any governmental entity that contains any territory of the city.
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.2-1995, SEC.139.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-4. Trustees; Appointment; Terms; Vacancies; Oath

Sec. 4. (a) Within fifty (50) days after the adoption of the ordinance, the city executive shall appoint three (3) trustees and the city legislative body shall appoint two (2) trustees of the authority. All of the trustees must be at least twenty-one (21) years of age and residents of the city for at least five (5) years before appointment.
(b) Initial terms of the trustees are as follows:
(1) The legislative body's appointees for terms of two (2) years.
(2) One (1) of the executive's appointees for a term of three (3) years.
(3) Two (2) of the executive's appointees for terms of four (4) years.
At the expiration of a term, the appointing authority shall appoint a successor for a four (4) year term. Each trustee serves until the trustee's successor is appointed and qualified.
(c) If a trustee dies, resigns, ceases to be a resident of the city, fails to qualify for office within ten (10) days after the trustee receives notice of the trustee's appointment, or is removed for cause, the appointing authority shall appoint another person as trustee for the remainder of that term.
(d) Each trustee, before entering upon the trustee's duties, shall take and subscribe an oath of office to be endorsed upon the trustee's certificate of appointment. The certificate shall be filed with the city clerk.
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.127-2017, SEC.392.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-5. Trustees; Removal; Procedure

Sec. 5. A trustee may be removed from office for good cause by an order of the judge of the circuit or superior court of the county in which the authority is located, subject to the procedure of this section. A complaint stating the preferred charges may be filed by any person against a trustee. The cause shall be placed on the advanced calendar and be tried as other civil causes are tried by the court without the intervention of a jury.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-6. Trustees; Meetings; Selection of Directors and Officers

Sec. 6. The trustees originally appointed shall meet within thirty (30) days after their appointment. At this meeting the trustees shall appoint the directors of the authority and shall elect the following officers from among their number:
(1) President.
(2) Vice president.
(3) Secretary.
The officers serve until the first Monday in January following their election. The trustees shall meet annually on the first Monday in January to reorganize, to appoint directors, and to transact business. Additional meetings may be called by the president or set at regular intervals by the trustees.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-7. Trustees; Rules; Reimbursement of Expenses

Sec. 7. The trustees may adopt the rules that they consider necessary for the proper conduct of their proceedings. Trustees serve without pay but are entitled to reimbursement for any expenses necessarily incurred in the performance of their duties.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-8. Trustees; Conflicts of Interest

Sec. 8. A trustee may not have any pecuniary interest in any contract, employment, purchase, or sale made under this chapter. A transaction in which any trustee has a pecuniary interest is void.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-9. Trustees; Appointment of Board of Directors; Qualifications; Tenure; Conflicts of Interest

Sec. 9. The trustees shall appoint by majority vote a board of five (5) directors. The directors must meet the same qualifications, subscribe to the same oath, and receive the same reimbursements as trustees. The directors serve for one (1) year following their appointment and until their successors are appointed and qualified. A director may not have any pecuniary interest in any contract, employment, purchase, or sale made under this chapter. Any transaction in which any director has a pecuniary interest is void. Vacancies shall be filled by the trustees. The trustees may remove a director for cause at any time.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-10. Board of Directors; Meetings; Officers; Bylaws; Quorum; Approval of Actions

Sec. 10. (a) Not later than thirty (30) days after the directors are appointed, and on the first Monday of each following February they shall hold a meeting for the purpose of organization. They shall elect the following officers from among their members:
(1) President.
(2) Vice president.
(3) Secretary.
(4) Treasurer.
The officers shall perform the duties usually pertaining to those offices. The officers serve from the date of their election until their successors are elected and qualified.
(b) The directors may adopt bylaws and rules necessary for the proper conduct of their proceedings, the carrying out of their duties, and the safeguarding of the funds and property of the authority. In addition to the annual meeting, other regular and special meetings shall be held at the times that they determine and upon public notice that they fix, either by resolution or in accordance with the provisions of the bylaws. A majority of the directors constitutes a quorum. A majority is necessary to authorize any action.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-11. Preliminary Expenses; Payment; Reimbursement

Sec. 11. (a) All necessary preliminary expenses actually incurred in the:
(1) making of surveys;
(2) estimates of cost and receipts;
(3) employment of engineers or other employees;
(4) giving of notices;
(5) taking of options; and
(6) all other expenses necessary to be paid before the issue and delivery of bonds or the negotiation of the loan under this chapter;
may be met and paid out of funds provided by the city from funds on hand or derived from taxes levied for that purpose.
(b) The funds of the city from which payments are made shall be fully reimbursed and repaid by the board out of the first proceeds of the sale of bonds or the loan negotiated by the authority before any other disbursements are made. The amount advanced shall be a first charge against the proceeds resulting from the sale of the bonds or the negotiation of the loan until the loan has been repaid.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-12. Board of Directors; Powers

Sec. 12. The board of directors may finance, construct, and lease buildings for the joint or separate use of one (1) or more of the governmental entities within the county in which the authority has been created. The board of directors also may:
(1) sue and be sued;
(2) appropriate, purchase, lease, rent, and hold any land, materials, and personal property in connection with buildings constructed or to be constructed under this chapter;
(3) acquire by gift, devise, or bequest real and personal property and hold, use, expend, or dispose of that property for the purposes authorized by this chapter;
(4) enter upon any lots or lands for the purpose of surveying or examining them for the purposes of this chapter;
(5) collect rentals payable as provided for in a lease; and
(6) make and enter into all contracts and agreements necessary or incidental for the performance of its duties and the execution of its powers under this chapter.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-13. Lease to Governmental Entity of Property Controlled by Authority; Sublease; Term; Renewal

Sec. 13. (a) A governmental entity within the county and the authority may enter into a lease for all or part of a building under the control of the authority. A governmental entity may also sublease the leased premises to other governmental entities within the county.
(b) A lease may be entered into before the actual acquisition of a site and the construction of the building. A lease may not provide for the payment of any lease rental by the lessee until the building is ready for occupancy.
(c) A lease or sublease may not be for a period longer than forty (40) years, but may be renewed for a maximum of forty (40) years. An option to renew may be included in the original lease.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-14. Lease; Option to Purchase

Sec. 14. (a) An option to purchase on the dates of each year fixed in the lease, before the expiration of the lease, may also be included in the original lease. The price must be computed by a method set out in the lease. The option may be given to one (1) or more lessees acting jointly or severally.
(b) A lease may not obligate a governmental entity to purchase the leased building or pay creditors or bondholders of the authority.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-15. Lease; Notice and Hearing; Authorization of Execution

Sec. 15. (a) When the authority and a governmental entity have agreed upon the lease, and before the final execution of the lease, a notice shall be published under IC 5-3-1 of a hearing to be held by the fiscal body of the governmental entity. The hearing shall be held on a day at least ten (10) days after the publication of notice. The proposed lease and any plans and specifications must be open to inspection by the public during the ten (10) day period and at the hearing.
(b) The notice must state:
(1) the date, place, and time of the hearing;
(2) a brief summary of the principal terms of the lease, including the character and location of the property to be leased;
(3) the estimated lease rental to be paid; and
(4) the period of the lease.
(c) All interested persons are entitled to be heard at the hearing concerning the necessity for the execution of the lease and whether the lease rental is fair and reasonable. The hearing may be adjourned to a later date fixed before adjournment. Following the hearing the fiscal body may either:
(1) authorize the execution of the original lease; or
(2) authorize the execution of the lease with modifications that are agreed to by the authority.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-16. Lease; Execution; Notice; Limitation on Annual Rental; Transfer of Net Revenue

Sec. 16. (a) The lease shall be executed on behalf of the governmental entity by an officer authorized by law to execute contracts for the entity and on behalf of the authority by both the president or vice president of the board and the secretary of the board of directors.
(b) Notice of the execution of the lease shall be given by the governmental entity by publication as provided in IC 5-3-1.
(c) A lease may not be executed with annual lease rental exceeding an aggregate of two hundred seventy-five thousand dollars ($275,000) unless the fiscal body of the lessee governmental entity finds that the estimated annual net income to the lessee governmental entity from the civic center, plus any other nonproperty tax funds made available annually for the payment of the lease rental, will not be less than the amount of the excess.
(d) All net revenues of the leased building, together with any other funds made available for the payment of lease rental, shall be transferred at least annually by the lessee to a fund for payment of lease rental.
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.73-1983, SEC.23; P.L.90-2002, SEC.525; P.L.197-2016, SEC.154.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-17. Lease; Objections; Petition; Certification to Department of Local Government Finance; Hearing; Determination

Sec. 17. (a) Ten (10) or more taxpayers whose tax rate will be affected by the lease may file a petition in the office of the county auditor within thirty (30) days after publication of notice of the execution of the lease. The petition must set forth their objections and the facts showing
(1) that the lease is unnecessary or unwise; or
(2) that the lease rental is not fair and reasonable.
(b) Upon the filing of a petition, the county auditor shall certify a copy, together with other data that is necessary in order to present the questions involved, to the department of local government finance. Upon receipt of a certified petition and information, the department of local government finance shall set a time for the hearing of the matter. The hearing shall be held at least five (5) but not more than fifteen (15) days after receipt of the petition by the department of local government finance. The department of local government finance may either hold the hearing in the affected county or through electronic means. Notice of the hearing shall be given by the department of local government finance to the governmental entity and to the first ten (10) petitioners at least five (5) days before the date of the hearing. The hearing shall determine the necessity of the lease and whether the lease rental is fair and reasonable.
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.90-2002, SEC.526; P.L.38-2021, SEC.109.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-18. Lease; Actions to Contest Validity or Enjoin Performance; Limitation

Sec. 18. An action to contest the validity of the lease or to enjoin the performance of the lease may not be brought later than thirty (30) days after publication of notice of the execution of the lease or thirty (30) days after the decision of the department of local government finance, whichever is later.
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.90-2002, SEC.527.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-19. Sale or Lease of Land by Governmental Entity to Authority

Sec. 19. (a) A governmental entity or entities desiring to have buildings erected on land owned or to be acquired by it may sell or lease the land to the authority. The land may be leased at a nominal lease rental, but the term of the lease may not be less than the term of the lease of the building to the governmental entity.
(b) The governmental entity may also grant an option to the authority to purchase the land within six (6) months after the expiration of the lease on the building if the governmental entity or entities has not exercised an option to purchase the building within the terms of the contract of lease. If the option price on the land is not fixed in the original contract of lease, then the price to be paid for the land under that option shall be determined by appraisal to be made by three (3) appraisers residing in the county appointed by the judge of the circuit court of the county. A sale or lease of land by a governmental entity to the authority shall be authorized by the fiscal body of the entity by ordinance or resolution, which shall be entered in the official records of the fiscal body. The authorization shall be given concurrently with the authorization by the governmental entity of a lease by it of the particular building, or part of it, to be constructed wholly or in part on the land. The deed or lease shall be executed on behalf of the entity by the officer or officers authorized by law to enter into contracts on behalf of the entity and on behalf of the authority by the president or vice president and secretary of the board of directors.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-20. Revenue Bonds; Issuance; Resolution

Sec. 20. (a) In order to procure funds to pay the cost of a building to be built or improved under this chapter, and to repay advances for preliminary expenses made to the authority by the governmental entity, the board of directors may issue revenue bonds of the authority. The bonds are payable solely from the income and revenues of the particular building financed from the proceeds of the bonds.
(b) The revenue bonds shall be authorized by resolution of the board, bear interest payable semiannually, and mature serially, either annually or semiannually, at the times that are determined by the resolution of the board authorizing the bonds. The maturities of the bonds may not extend over a period longer than the period of the lease of the building for which the bonds are issued. The bonds may and all bonds maturing after ten (10) years from the date of issuance shall be made redeemable before maturity at the option of the authority, to be exercised by the board, at par value together with the premiums and under the terms and conditions that are fixed by the resolution authorizing the issuance of the bonds. The principal and interest of the bonds may be made payable in any lawful medium.
(c) The resolution must determine the form of the bonds, including the interest coupons to be attached, and must fix the denomination or denominations of the bonds and the place or places of payment of the principal and interest, which must be at a state or national bank or trust company within Indiana or may be at one (1) or more state or national banks or trust companies outside Indiana. All bonds must have all the qualities and incidents of negotiable instruments under statute. Provision may be made for the registration of the bonds in the name of the owner as to principal alone.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-21. Bonds; Execution and Sale

Sec. 21. (a) The bonds shall be executed by the president of the board, and the corporate seal of the authority shall be affixed and attested by the secretary of the board. The interest coupons attached to the bonds shall be executed by placing the facsimile signature of the treasurer on them. The bonds shall be sold by the board:
(1) at public sale for not less than the par value; or
(2) alternatively, at a negotiated sale after June 30, 2018, and before July 1, 2025.
Notice of sale shall be published in accordance with IC 5-3-1.
(b) If the bonds are sold at a public sale, the board shall award the bonds to the highest bidder as determined by computing the total interest on the bonds from the date of issue to the dates of maturity and deducting the premium bid, if any. If the bonds are not sold on the date fixed for the sale, the sale may be continued from day to day until a satisfactory bid has been received.
(c) Any premium received from the sale of the bonds shall be used solely for the payment of principal and interest on the bonds.
(d) Before the preparation of definitive bonds, temporary bonds may under like restrictions be issued with or without coupons, exchangeable for definitive bonds upon the issuance of the latter. The total amount of bonds issued by the authority under this section, when added to any loan or loans negotiated under section 22 of this chapter, may not exceed three million dollars ($3,000,000).
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.125-2018, SEC.13; P.L.38-2021, SEC.110; P.L.236-2023, SEC.216.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-22. Loans; Procedure

Sec. 22. (a) In lieu of authorizing and selling bonds as provided in this section, the board may adopt a resolution authorizing the negotiation of a loan or loans for the purpose of procuring the required funds. The resolution must set out the total amount of the loan desired and the approximate dates on which funds will be required and the amounts of them. The resolution must also set out the terms, conditions, and restrictions relative to the proposed loan or to the submission of proposals that the board considers advisable. Before the consideration of proposals for the making of a loan, a notice shall be published once each week for two (2) weeks:
(1) with each publication in a newspaper published in the county and a newspaper published in the city of Indianapolis; or
(2) with the first publication of notice in each newspaper described in subdivision (1) and the second publication of notice:
(A) in accordance with IC 5-3-5; and
(B) on the official web sites of the county and the city of Indianapolis.
The notice must set out the amount and purpose of the proposed loan and a brief summary of other provisions of the resolution, including the time and place where proposals will be considered. The board may accept the proposal that in its judgment is the most advantageous to the authority.
(b) The total amount of loans negotiated by the authority under this section, when added to the amount of bonds issued under section 21 of this chapter, may not exceed three million dollars ($3,000,000).
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.152-2021, SEC.42.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-23. Application of Bond and Loan Proceeds; Lien

Sec. 23. All money received from the sale of bonds or loans negotiated under this chapter, after reimbursement to the city of all amounts advanced for preliminary expenses as provided in section 11 of this chapter, shall be applied to the payment of the costs of buildings and improvements for which the bonds were issued or the loan was negotiated, including incidental expenses and interest during construction. A lien exists on all monies until so applied in favor of the holders of the bonds, the lenders, or the trustees.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-24. Bonds or Loans; Trust Indenture

Sec. 24. (a) In the discretion of the board of directors, the bonds or loan may be secured by a trust indenture between the authority and a corporate trustee, which may be any trust company or national or state bank within Indiana having trust powers. The trust indenture may mortgage all or part of the land, buildings, or both for which the bonds are issued or the loan negotiated. The trust indenture may contain the provisions for protecting and enforcing the rights and remedies of the bondholders or lenders that are reasonable and proper, including covenants setting forth the duties of the authority and board of directors in relation to the construction of the buildings and improvement, operation, repair, maintenance, and insurance of them, and the custody, safeguarding, and application of all money received or to be received by the authority due to the building financed by the issuance of the bonds or the negotiation of the loan. The indenture may set forth the rights and remedies of the bondholders or lenders and trustee and provisions restricting the individual right of action of bondholders or lenders.
(b) Within the limits of this chapter, the board of directors may provide by resolution or in the trust indenture for the payment of the proceeds of the sale of the bonds or the negotiation of the loan to an officer, board, or depository that it determines for the custody of them and for the method of disbursement, with safeguards and restrictions that it determines.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-25. Refunding Revenue Bonds; Issuance

Sec. 25. (a) To procure money to refund bonds issued under section 20 of this chapter, the board of directors may issue refunding revenue bonds. The refunding bonds may not be issued unless:
(1) the issuance will result in a savings of interest cost to the authority; or
(2) the issuance will permit a reduction in the lease rental payable by the lessee of the building financed from the bond proceeds being refunded.
(b) The refunding bonds are subject to the following:
(1) The issuance may not exceed the sum of:
(A) the principal of the bonds being refunded;
(B) any premium required to be paid upon their redemption;
(C) any interest accrued or to accrue to the date of their redemption; and
(D) any expenses that the board estimates will be incurred in the issuance of the refunding bonds.
(2) The bonds may be issued at any time not more than six (6) years prior to the redemption date of the bonds being refunded.
(3) Principal is not payable on the refunding bonds until after the redemption date.
(4) Until the redemption of the bonds being refunded, the interest on the refunding bonds is payable solely from the money placed in escrow in accordance with section 26 of this chapter. Interest or other income earned on the investment of the funds and the principal and interest on the refunding bonds constitute a lien only against the escrowed money.
(5) Upon redemption of all the bonds being refunded, the principal and interest on the refunding bonds is payable solely from and constitute a lien only against the income and revenues of the buildings financed from the proceeds of the bonds being refunded and any other money deposited in the sinking fund for the payment of the refunding bonds.
(c) The refunding bonds shall be issued in the same manner as bonds are issued under section 20 of this chapter and may be secured by a trust indenture as provided in section 24 of this chapter.
(d) An action to contest the validity of the refunding bonds may not be brought after the fifth day following the receipt of bids for the bonds.
(e) The trust indenture securing the refunding bonds may provide for the transfer by the authority to the sinking fund established by the trust indenture of all or any part of the balance in the sinking fund established in the trust indenture securing, or resolution providing for the issuance of, the bonds being refunded, the transfer to be made concurrently with the redemption of all the bonds being refunded.
As added by Acts 1982, P.L.218, SEC.5.
2023 Indiana Code › Title 36. Local Government › Article 10. Recreation, Culture, and Community Facilities › Chapter 11. Gary Building Authority › 36-10-11-26. Refunding Bonds; Application of Proceeds

Sec. 26. (a) The proceeds of the refunding bonds issued under section 25 of this chapter shall be placed in escrow and applied with any other available money to the payment on the date selected for redemption of the principal, accrued interest, and any redemption premiums of the bonds being refunded. In addition, if provided or permitted in the resolution authorizing the issuance of the refunding bonds or in the trust indenture securing them, the proceeds may also be applied to the payment of any interest on the refunding bonds and any costs of refunding. Pending application, the escrowed proceeds may be invested in direct obligations of, or obligations the principal of and the interest on which are unconditionally guaranteed by, the United States, which must mature, or which must be subject to redemption by the holder of them at the option of the holder, not later than the respective dates when the proceeds, together with the accruing interest, will be required for the purposes intended.
(b) In lieu of those investments, all or part of the proceeds may be placed in interest bearing time certificates of deposit with the bank that the board designates. Other similar arrangements may be made with the bank that will assure that the proceeds, together with the accruing interest, will be available when required for the purposes intended, but time certificates of deposit or other similar arrangements must be secured to their full amount by direct obligations of, or obligations the principal of and the interest on which are unconditionally guaranteed by, the United States of the type permitted for direct investment of the escrow fund.
(c) All interest or other income earned on these investments must first be used to pay the interest on the refunding bonds as it becomes due. Any excess becomes a part of and shall be held in the escrow fund. Any balance remaining in the escrow fund after redemption of all the bonds being refunded shall be deposited in the sinking fund established for the payment of the principal and interest on the refunding bonds.
As added by Acts 1982, P.L.218, SEC.5.