Indiana § 36-10-11-22 - Loans; procedure
Full text of Indiana Indiana Code § 36-10-11-22 — Loans; procedure, with citation guidance and answers to common questions.
§ 36-10-11-22. Loans; procedure
Sec. 22. (a) In lieu of authorizing and selling bonds as provided in this section, the board may adopt a resolution authorizing the negotiation of a loan or loans for the purpose of procuring the required funds. The resolution must set out the total amount of the loan desired and the approximate dates on which funds will be required and the amounts of them. The resolution must also set out the terms, conditions, and restrictions relative to the proposed loan or to the submission of proposals that the board considers advisable. Before the consideration of proposals for the making of a loan, a notice shall be published once each week for two (2) weeks:
(1) with each publication in a newspaper published in the county and a newspaper published in the city of Indianapolis; or
(2) with the first publication of notice in each newspaper described in subdivision (1) and the second publication of notice:
(A) in accordance with IC 5-3-5; and
(B) on the official web sites of the county and the city of Indianapolis.
The notice must set out the amount and purpose of the proposed loan and a brief summary of other provisions of the resolution, including the time and place where proposals will be considered. The board may accept the proposal that in its judgment is the most advantageous to the authority.
(b) The total amount of loans negotiated by the authority under this section, when added to the amount of bonds issued under section 21 of this chapter, may not exceed three million dollars ($3,000,000).
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.152-2021, SEC.42.
Frequently Asked Questions About Indiana § 36-10-11-22
What does Indiana Code § 36-10-11-22 cover?
Section 36-10-11-22 ("Loans; procedure") 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 § 36-10-11-22?
A common citation format is "Indiana Code § 36-10-11-22" (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 § 36-10-11-22 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.