{"data":{"id":"us-in/ic-8-15.5-5-4","jurisdiction":"us-in","citation":"IC 8-15.5-5-4","heading":"Financing of obligations by operator; no state or local debt or pledge","body":"Sec. 4. (a) The operator may finance its obligations with respect to the project and the public-private agreement in the amounts and upon the terms and conditions determined by the operator.\n(b) The operator may:\n(1) issue debt, equity, or other securities or obligations;\n(2) enter into sale and leaseback transactions; and\n(3) secure any financing with a pledge of, security interest in, or lien on any user fees charged and collected for the use of a toll road project or a facility project and any property interest of the operator in a toll road project or a facility project.\nHowever, any bonds, debt, other securities, or other financing issued for the purposes of this article shall not be considered to constitute a debt of the state or any political subdivision of the state or a pledge of the faith and credit of the state or any political subdivision.\n(c) The operator may deposit any user fees charged and collected for the use of a toll road project or a facility project in a separate account held by a trustee or escrow agent for the benefit of the secured parties of the operator.","path":["TITLE 8. UTILITIES AND TRANSPORTATION","ARTICLE 15.5. PUBLIC-PRIVATE AGREEMENTS FOR TOLL ROAD PROJECTS","Chapter 5. Terms and Conditions of Public-Private Agreements"],"source_url":"https://iga.in.gov/ic/2026/Title_8.html#8-15.5-5-4","current_through":"2026","vintage":"2026","retrieved_at":"2026-10-04T20:08:46Z","sha256":"e7ef1e9e441673584b240a331dbdc8c4d4e64a596a2975c2c9ba93c4d229ed98","source_id":"us-in","stale":false,"prev":"us-in/ic-8-15.5-5-3","next":"us-in/ic-8-15.5-5-5"},"notice":"GroundRules: Original legal text. Not legal advice."}