Indiana § 8-18-21-12 - Proceeds of bonds or loans; application; lien
Full text of Indiana Indiana Code § 8-18-21-12 — Proceeds of bonds or loans; application; lien, with citation guidance and answers to common questions.
§ 8-18-21-12. Proceeds of bonds or loans; application; lien
Sec. 12. (a) The proceeds of any bonds issued or loans made under this chapter shall first be applied to the reimbursement of all amounts advanced for preliminary expenses under this chapter. The proceeds shall then be applied solely to the payment of the costs for which the bonds are issued or the loan is negotiated, including incidental expenses and interest during construction.
(b) The bondholders, lenders, or trustees under this chapter have a lien upon the proceeds of the bonds or the loan until those proceeds are applied as prescribed by this section.
As added by P.L.386-1987(ss), SEC.21.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 8-18-21-12
What does Indiana Code § 8-18-21-12 cover?
Section 8-18-21-12 ("Proceeds of bonds or loans; application; lien") 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 § 8-18-21-12?
A common citation format is "Indiana Code § 8-18-21-12" (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 § 8-18-21-12 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.