Indiana § 36-9-30-18 - Revenue bonds; ordinance authorizing bond
Full text of Indiana Indiana Code § 36-9-30-18 — Revenue bonds; ordinance authorizing bond, with citation guidance and answers to common questions.
§ 36-9-30-18. Revenue bonds; ordinance authorizing bond
Sec. 18. The ordinance authorizing the revenue bonds must also:
(1) establish a sinking fund for the payment of the bonds, the interest on the bonds, and the charges of banks or trust companies for making payment of the bonds or interest; and
(2) pledge the revenues of the facilities, after the payment of the reasonable expense of operation, repair, and maintenance, into the sinking fund at intervals to be determined by the ordinance, for:
(A) the payment of interest on the bonds as it falls due;
(B) the payment of the bonds as they fall due; and
(C) the accumulation of reasonable reserves in the sinking fund as a margin for safety and a protection against default, and for the payment of premiums upon bonds retired by call or purchase.
The required payments constitute a first charge upon the revenues of the facilities, after the payment of the reasonable expense of operation, repair, and maintenance.
[Pre-Local Government Recodification Citation: 19-2-1-15.]
As added by Acts 1981, P.L.309, SEC.106.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-9-30-18
What does Indiana Code § 36-9-30-18 cover?
Section 36-9-30-18 ("Revenue bonds; ordinance authorizing bond") 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 § 36-9-30-18?
A common citation format is "Indiana Code § 36-9-30-18" (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 § 36-9-30-18 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.