Indiana § 13-26-10-18 - Sinking fund for payment of bonds
Full text of Indiana Indiana Code § 13-26-10-18 — Sinking fund for payment of bonds, with citation guidance and answers to common questions.
§ 13-26-10-18. Sinking fund for payment of bonds
Sec. 18. (a) At or before the time of issuance of the revenue bonds, the board shall by ordinance create a sinking fund for the payment of the following:
(1) The bonds.
(2) The interest on the bonds.
(3) The charges of banks or trust companies for making payment of the bonds or interest.
(b) The board shall set aside and pledge the net revenues of the works remaining after the payment of the reasonable expense of operation, repair, and maintenance of the works for payment of the:
(1) principal of and interest on all bonds payable from the revenues of the works, to the extent necessary for that purpose; and
(2) necessary fiscal agency charges for paying the principal and interest of the bonds.
(c) The ordinance may also provide for the accumulation of reasonable reserves in the sinking fund:
(1) as a margin for safety and a protection against default; and
(2) for the payment of premiums upon bonds retired by call or purchase as provided by this article.
[Pre-1996 Recodification Citation: 13-3-2-20.]
As added by P.L.1-1996, SEC.16.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 13-26-10-18
What does Indiana Code § 13-26-10-18 cover?
Section 13-26-10-18 ("Sinking fund for payment of bonds") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 13-26-10-18?
A common citation format is "Indiana Code § 13-26-10-18" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 13-26-10-18 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.