Indiana · Snapshot 2026

IC 5-1.3-6-8: Declaration concerning liability; sources or repayment

Where this section sits in the code

TITLE 5. STATE AND LOCAL ADMINISTRATION
ARTICLE 1.3. LEASE FINANCING FOR RAIL PROJECTS FOR THE NORTHWEST INDIANA REGIONAL DEVELOPMENT AUTHORITY AND THE NORTHERN INDIANA COMMUTER TRANSPORTATION DISTRICT
Chapter 6. Bonds and Notes

Sec. 8. The bonds or notes:

(1) constitute the corporate obligations of the IFA or the NWIRDA;

(2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision, prohibition, or limitation; and

(3) are payable solely as to both principal and interest from:

(A) the revenues from a lease to the NWIRDA, if any;

(B) other available revenues, if any;

(D) investment earnings on proceeds of bonds or notes.

Collected 2026-09-02T16:11:39Z. Source file · JSON