Section 8-15.5-5-4 - Financing of obligations by operator; no state or local debt or pledge(a) The operator may finance its obligations with respect to the project and the public-private agreement in the amounts and upon the terms and conditions determined by the operator.(b) The operator may: (1) issue debt, equity, or other securities or obligations;(2) enter into sale and leaseback transactions; and(3) secure any financing with a pledge of, security interest in, or lien on any user fees charged and collected for the use of a toll road project or a facility project and any property interest of the operator in a toll road project or a facility project. However, any bonds, debt, other securities, or other financing issued for the purposes of this article shall not be considered to constitute a debt of the state or any political subdivision of the state or a pledge of the faith and credit of the state or any political subdivision.
(c) The operator may deposit any user fees charged and collected for the use of a toll road project or a facility project in a separate account held by a trustee or escrow agent for the benefit of the secured parties of the operator.Amended by P.L. 213-2015, SEC. 112, eff. 7/1/2015.Amended by P.L. 205-2013, SEC. 152, eff. 5/15/2013.As added by P.L. 47-2006, SEC.39.