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Ind. Code § 36-7-18-31

Bonds, notes, and warrants; approval by unit; procedure for issuance and sale; negotiability

Redline — January 1, 2018 → current.View current text →
Current — January 1, 2025
As of January 1, 2018
Sec. 31. (a) Issues of bonds, notes, or warrants of a housing authority must be approved by the fiscal body of the unit after a public hearing, with notice of the time, place, and purpose of the hearing given by publication in accordance with IC 5-3-1. The bonds, notes, or warrants must then be authorized by resolution of the authority.
Sec. 31. (a) Issues of bonds, notes, or warrants of a housing authority must be approved by the fiscal body of the unit after a public hearing, with notice of the time, place, and purpose of the hearing given by publication in accordance with IC 5-3-1. The bonds, notes, or warrants must then be authorized by resolution of the authority.
(b) After the bonds, notes, or warrants have been approved under subsection (a), they may be issued in one (1) or more series, with the:
(b) After the bonds, notes, or warrants have been approved under subsection (a), they may be issued in one (1) or more series, with the:
(1) dates;
(1) dates;
(2) maturities;
(2) maturities;
(3) denominations;
(3) denominations;
(4) form, either coupon or registered;
(4) form, either coupon or registered;
(5) conversion or registration privileges;
(5) conversion or registration privileges;
(6) rank or priority;
(6) rank or priority;
(7) manner of execution;
(7) manner of execution;
(8) medium of payment;
(8) medium of payment;
(9) places of payment; and
(9) places of payment; and
(10) terms of redemption, with or without premium;
(10) terms of redemption, with or without premium;
provided by the resolution or its trust indenture or mortgage.
provided by the resolution or its trust indenture or mortgage.
(c) The bonds, notes, or warrants shall be sold at a public sale under IC 5-1-11, for not less than par value, after notice published in accordance with IC 5-3-1. However, they may be sold at not less than par value to the federal government:
(c) The bonds, notes, or warrants shall be sold at a public sale under IC 5-1-11, for not less than par value, after notice published in accordance with IC 5-3-1. However, they may be sold at not less than par value to the federal government:
(1) at private sale without any public advertisement; or
(1) at private sale without any public advertisement; or
(2) alternatively, at a negotiated sale.
(2) alternatively, at a negotiated sale after July 1, 2018, and before June 30, 2021, in the case of a housing authority of: (A) a consolidated city; or (B) a second class city. (d) If any of the commissioners or officers of the housing authority whose signatures appear on any bonds, notes, or warrants or coupons cease to be commissioners or officers before the delivery, exchange, or substitution of the bonds, notes, or warrants, their signatures remain valid and sufficient for all purposes, as if they had remained in office until the delivery, exchange, or substitution. (e) Subject to provision for registration and notwithstanding any other law, any bonds, notes, or warrants issued under this chapter are fully negotiable. (f) In any proceedings involving the validity or enforceability of any bond, note, or warrant of a housing authority or of its security, if the instrument states that it has been issued by the authority to aid in financing a housing project to provide dwelling accommodations for persons of low income, it shall be conclusively presumed to have been issued for that purpose and the project shall be conclusively presumed to have been planned, located, and constructed in accordance with this chapter.
(d) If any of the commissioners or officers of the housing authority whose signatures appear on any bonds, notes, or warrants or coupons cease to be commissioners or officers before the delivery, exchange, or substitution of the bonds, notes, or warrants, their signatures remain valid and sufficient for all purposes, as if they had remained in office until the delivery, exchange, or substitution.
(e) Subject to provision for registration and notwithstanding any other law, any bonds, notes, or warrants issued under this chapter are fully negotiable.
(f) In any proceedings involving the validity or enforceability of any bond, note, or warrant of a housing authority or of its security, if the instrument states that it has been issued by the authority to aid in financing a housing project to provide dwelling accommodations for persons of low income, it shall be conclusively presumed to have been issued for that purpose and the project shall be conclusively presumed to have been planned, located, and constructed in accordance with this chapter.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.