CHAPTER 4. PORTS OF INDIANA.JURISDICTION AND BONDING POWERS
IC 8-10-4
Chapter 4. Ports of Indiana.Jurisdiction and Bonding Powers
IC 8-10-4-1
"Self-liquidating or nonrecourse project"
Sec. 1. (a) As used in this chapter, "self-liquidating or
nonrecourse project" means:
(1) a project for which a lease or leases have been executed
providing for payment in an amount the ports of Indiana
determines to be sufficient to pay:
(A) the interest and principal of the bonds to be issued to
finance the cost of the project; and
(B) all costs of maintenance, repair, and insurance of the
project; or
(2) a project that is structured in such a manner that the ports of
Indiana determines there is no recourse against the state or the
ports of Indiana.
(b) Other words and terms used in this chapter shall have the same
meaning as in IC 8-10-1-2 and the other provisions of this article,
unless otherwise specifically provided.
(Formerly: Acts 1969, c.292, s.1.) As amended by P.L.66-1984,
SEC.18; P.L.224-2003, SEC.226 and P.L.271-2003, SEC.26;
P.L.232-2005, SEC.8; P.L.98-2008, SEC.45.
IC 8-10-4-2
Revenue bonds; application of bidding and public works statutes;
governor approval required
Sec. 2. (a) In addition to the powers conferred upon the ports of
Indiana by other provisions of this article, and subject to subsection
(b), the ports of Indiana, in connection with any self-liquidating or
nonrecourse project, shall have the following powers
notwithstanding any other provision of this article to the contrary:
(1) The revenue bonds issued by the ports of Indiana to finance
the cost of such self-liquidating or nonrecourse project may be
issued without regard to any maximum interest rate limitation
in this article or any other law.
(2) The revenue bonds issued by the ports of Indiana to finance
the cost of such self-liquidating or nonrecourse project may be
sold in such manner, either at public or private sale, as the ports
of Indiana may determine, and the provisions of IC 21-32-3
shall not be applicable to such sale.
(3) IC 4-13.6, IC 5-16-1, IC 5-16-2, IC 5-16-3, IC 5-16-5,
IC 5-16-5.5, IC 5-16-6, IC 5-16-6.5, IC 5-16-8, IC 5-16-9,
IC 5-16-10, IC 5-16-11, IC 5-16-11.1, IC 8-10-1-7(12),
IC 8-10-1-29, and IC 36-1-12 do not apply to a self-liquidating
or nonrecourse project.
(b) The issuance of revenue bonds by the ports of Indiana under
this chapter is subject to the approval of the governor.
(Formerly: Acts 1969, c.292, s.2.) As amended by P.L.66-1984,
SEC.19; P.L.224-2003, SEC.227 and P.L.271-2003, SEC.27;
P.L.235-2005, SEC.112; P.L.232-2005, SEC.9; P.L.1-2006,
SEC.154; P.L.2-2007, SEC.136; P.L.98-2008, SEC.46.
IC 8-10-4-3
Charges of lessees
Sec. 3. Any lease of a project may provide that the lessee, as its
reasonable portion of the ports of Indiana's administrative expense
incurred by the ports of Indiana during the term of the lease which
the lessee is required to pay by IC 8-10-1-10, shall pay to the ports
of Indiana for the use of the harbor, the public docking facilities and
public wharves and piers, all harbor, dockage, and wharfage charges
established by the ports of Indiana.
(Formerly: Acts 1969, c.292, s.3.) As amended by P.L.66-1984,
SEC.20; P.L.224-2003, SEC.228 and P.L.271-2003, SEC.28;
P.L.98-2008, SEC.47.
IC 8-10-4-4
Valuation of land for project site
Sec. 4. The cost of any project may include, instead of the cost of
the acquisition of the land constituting the site of such project, the
value of such land as determined by the ports of Indiana. The
proceeds of any revenue bonds representing the value of such land
shall be deposited in the Indiana port fund.
(Formerly: Acts 1969, c.292, s.4.) As amended by P.L.224-2003,
SEC.229 and P.L.271-2003, SEC.29; P.L.98-2008, SEC.48.
IC 8-10-4-5
Contracts for use of license, process, or device
Sec. 5. The ports of Indiana may contract for the use of any
license, process or device, whether patented or not, which the ports
of Indiana finds is necessary for the operation of any project, and
may permit the use thereof by any lessee on such terms and
conditions as the ports of Indiana may determine. The cost of such
license, process, or device may be included as part of the cost of the
project.
(Formerly: Acts 1969, c.292, s.5.) As amended by P.L.224-2003,
SEC.230 and P.L.271-2003, SEC.30; P.L.98-2008, SEC.49.
IC 8-10-4-6
Application of certain provisions
Sec. 6. The following provisions apply to this chapter:
(1) IC 8-10-1-4.
(2) IC 8-10-1-10.
(3) IC 8-10-1-13.
(4) IC 8-10-1-14.
(5) IC 8-10-1-15.
(6) IC 8-10-1-16.
(7) IC 8-10-1-19.
(8) IC 8-10-1-25.
(9) IC 8-10-1-27.
(10) IC 8-10-1-30.
As added by P.L.224-2003, SEC.231 and P.L.271-2003, SEC.31.