Sec. 5.3. Notwithstanding any other law, the northern Indiana commuter transportation district established under this chapter may not issue new bonds, new notes, or other new evidences of indebtedness after May 9, 2025, that are payable in whole or in part from amounts distributed to the northern Indiana commuter transportation district from the commuter rail service fund ( IC 8-3-1.5-20.5 ) or the electric rail service fund ( IC 8-3-1.5-20.6 ). However, this section may not be construed to prohibit the refinancing of outstanding indebtedness originally incurred before May 10, 2025.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.