Indiana § 8-10-5-13 - Revenue bonds; issuance and sale
Full text of Indiana Indiana Code § 8-10-5-13 — Revenue bonds; issuance and sale, with citation guidance and answers to common questions.
§ 8-10-5-13. Revenue bonds; issuance and sale
Sec. 13. (a) Whenever a port authority, which was created or which shall be hereafter created by a city, town or county acting as a singular government unit or which after its creation has come under the jurisdiction of a city, town, or county as a singular government unit, has been authorized by the governing body of the city, town, or county to issue and sell revenue bonds for the purpose of obtaining funds with which to construct, purchase, lease, operate, maintain, or improve facilities included in the development plan or amendment thereof, the revenue bonds shall be:
(1) issued in the name of the city, town, or county;
(2) executed by the executive of the city, town, or county and the chairman of the board of directors of the port authority; and
(3) attested to by the clerk or clerk-treasurer of the city or town or auditor if a county.
(b) In authorizing revenue bonds and providing for the issuance and sale thereof, the governing body of the city, town, or county shall, by ordinance, consistent with pertinent statutes, provide all necessary details concerning the form and tenor of the revenue bonds, the amount thereof, the maturity dates, the provision for payment of principal and interest, the negotiability, and all other details, requirements, regulations, or specifications necessary to make the revenue bonds acceptable and legal instruments.
(c) The governing body shall, in its ordinance, make provision for the expenditure of the funds derived from the sale of the revenue bonds in accordance with the purposes for which the issuance and sale was authorized. The governing body shall specifically provide for the allocation of income and revenue of the port authority into the fund or funds as may be necessary to properly secure the accumulation of money in a separate account or accounts for use in the payment of principal and interest of the revenue bonds as they become due and payable.
Formerly: Acts 1959, c.343, s.12a; Acts 1961, c.247, s.5. As amended by Acts 1981, P.L.74, SEC.4; P.L.8-1989, SEC.52.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 8-10-5-13
What does Indiana Code § 8-10-5-13 cover?
Section 8-10-5-13 ("Revenue bonds; issuance and sale") 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 § 8-10-5-13?
A common citation format is "Indiana Code § 8-10-5-13" (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 § 8-10-5-13 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.