IC 6-3.6-6-18 (Version a): Pledge of certified shares; payment of bonds; lease payments; approval by fiscal body

Sec. 18. A civil taxing unit may pledge its certified shares to the payment of bonds or to lease payments for:

(1) any purpose of the civil taxing unit;

(2) any purpose of another governmental entity located in any part in the county, including a governmental entity organized on a regional basis; or

(3) any purpose for which certified shares may be used under IC 6-3.6-10.

The pledge must be approved in an ordinance adopted by the fiscal body of the political subdivision.