Indiana § 36-10-5-3 - Municipalities except consolidated cities; recreational facilities and programs; issuance of bonds or appropriations; revenue bonds
Full text of Indiana Indiana Code § 36-10-5-3 — Municipalities except consolidated cities; recreational facilities and programs; issuance of bonds or appropriations; revenue bonds, with citation guidance and answers to common questions.
§ 36-10-5-3. Municipalities except consolidated cities; recreational facilities and programs; issuance of bonds or appropriations; revenue bonds
Sec. 3. (a) This section applies to all municipalities except consolidated cities.
(b) If a municipality decides to acquire, construct, develop, improve, and operate recreational facilities and programs for park purposes, it may issue the bonds of the municipality to pay the cost of acquisition, development, and improvement, subject to statutes concerning the issuance of bonds and the making of appropriations by municipalities.
(c) As an alternative method of financing the cost of acquisition, development, and improvement, the municipality may issue revenue bonds. The revenue bonds are not obligations of the municipality within the meaning of constitutional limitations, but are payable solely from the income and revenues of the recreational facilities and programs for park purposes for which they are issued. If the proceeds of the bonds are used to acquire land, the payment of the bonds may be secured by a pledge of the land. Statutes concerning the issuance of revenue bonds by municipalities to construct, acquire, extend, or improve waterworks apply, as far as applicable, to revenue bonds issued under this section regarding the authorization, issuance, sale, character, and immunities of the bonds and the rights, privileges, and powers of the bondholders. However, neither a petition nor an election is required in these proceedings. If statutes authorizing the issuance of waterworks revenue bonds contain different provisions regarding procedure or the rights and remedies of bondholders, the ordinance authorizing the issuance of revenue bonds under this section must set out the particular procedure that the municipal legislative body has adopted and the rights and remedies given to the bondholders.
[Pre-Local Government Recodification Citations: subsection (a) New; subsection (b) formerly 19-7-20-1; 19-7-39-1; subsection (c) formerly 19-7-20-2; 19-7-39-2.]
As added by Acts 1981, P.L.309, SEC.112. Amended by P.L.157-1991, SEC.6.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-10-5-3
What does Indiana Code § 36-10-5-3 cover?
Section 36-10-5-3 ("Municipalities except consolidated cities; recreational facilities and programs; issuance of bonds or appropriations; revenue 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 § 36-10-5-3?
A common citation format is "Indiana Code § 36-10-5-3" (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 § 36-10-5-3 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.