IC 8-5-15-5.3 — Issuance of bonds by the northern Indiana commuter transportation district after May 9, 2025
Chapter 15. Commuter Transportation Districts
Section text
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.
As added by P.L.68-2025, SEC.192.
Source: official publisher (2026 edition)