Indiana § 8-21-12-16 - Loans to the authority
Full text of Indiana Indiana Code § 8-21-12-16 — Loans to the authority, with citation guidance and answers to common questions.
§ 8-21-12-16. Loans to the authority
Sec. 16. The authority may negotiate terms and borrow money from any source under a loan contract, subject to the following requirements:
(1) The loan contract must be approved by resolution of the authority.
(2) The loan contract must provide for the repayment of the loan in not more than forty (40) years.
(3) The loan contract must state that the indebtedness is that of the authority, is payable solely from revenues of the authority that are derived from either airport operations or from revenue bonds, and may not be paid by a tax levied on property located within the state.
As added by P.L.28-1991, SEC.2.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 8-21-12-16
What does Indiana Code § 8-21-12-16 cover?
Section 8-21-12-16 ("Loans to the authority") 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 § 8-21-12-16?
A common citation format is "Indiana Code § 8-21-12-16" (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 § 8-21-12-16 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.