Ind. Code § 5-1.3-2-1 Applicability
Sec. 1. The definitions in this chapter apply throughout this article.
As added by P.L.189-2018, SEC.26.
Ind. Code ch. 5-1.3-2
Ind. Code ch. 5-1.3-2
in effectInd. Code § 5-1.3-2-2 "Bonds"
Sec. 2. "Bonds" refers to bonds of:
(1) the IFA issued under IC 5-1.3-6; or
(2) the NWIRDA issued under IC 5-1.3-6.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-3 "Capitalized interest"
Sec. 3. "Capitalized interest" means interest cost on bonds or notes before and during the period of construction of the rail project for which the bonds or notes were issued, and for a period not to exceed two (2) years after completion of construction.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-4 "Construction"
Sec. 4. "Construction" means constructing, acquiring, renovating, rehabilitating, reconstructing, improving, extending, and equipping a rail project.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-5 "Costs"
Sec. 5. "Costs" as applied to any rail project, includes any item or cost incurred in the construction of a rail project, including:
(1) the cost of construction;
(2) the cost of acquisition of all land, rights-of-way, property, rights, easements, and any other legal or equitable interests acquired by the IFA for the construction, including the cost of any relocations incident to the acquisition;
(3) the cost of demolishing or removing any buildings, structures, or improvements on property acquired by the IFA, including the cost of:
(A) acquiring any property to which the buildings, structures, or improvements may be moved; or
(B) acquiring any property that may be exchanged for property acquired by the IFA, the NWIRDA, or the NICTD;
(4) financing charges;
(5) costs of issuance of bonds or notes, including costs of credit enhancement, such as bond or note insurance;
(6) remarketing or conversion fees;
(7) discounts resulting from the purchase price of the bonds or notes being less than par;
(8) capitalized interest;
(9) the cost of funding any reserves to secure the payment of bonds or notes;
(10) engineering, financial, trust and legal expenses, costs of plans, specifications, surveys, estimates, and any necessary feasibility studies;
(11) administrative expenses of the IFA, the NWIRDA, or the NICTD relating to any rail project financed by bonds or notes;
(12) refunding any interim financing entered into by the IFA, the NWIRDA, or the NICTD;
(13) reimbursement of the IFA, the NWIRDA, or the NICTD for:
(A) any cost, obligation, or expense incurred by the IFA, the NWIRDA, or the NICTD relating to a rail project;
(B) advances relating to a rail project from the IFA to the NWIRDA or the NICTD or from the NWIRDA to the NICTD for surveys, borings, preparation of plans and specifications, or engineering services; or
(C) any other cost of construction incurred by the NWIRDA or the NICTD that was paid from advances;
(14) other expenses necessary or incident to determining the feasibility or practicability of constructing, operating, and maintaining any rail project; and
(15) other expenses the IFA finds necessary or incident to the construction of the rail project, the financing of the construction, and the placing of the rail project in operation.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-6 "IFA"
Sec. 6. "IFA" refers to the Indiana finance authority established by IC 5-1.2-3.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-7 "NICTD"
Sec. 7. "NICTD" refers to the northern Indiana commuter transportation district established under IC 8-5-15.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-8 "Notes"
Sec. 8. "Notes" refers to notes of the IFA or the NWIRDA issued under IC 5-1.3-6 and includes any evidences of indebtedness of the IFA or the NWIRDA, including notes issued in anticipation of the receipt of grant proceeds from the federal government, but does not include bonds.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-9 "NWIRDA"
Sec. 9. "NWIRDA" refers to the northwest Indiana regional development authority established under IC 36-7.5-2-1.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-10 "Obligations"
Sec. 10. "Obligations" means bonds, loan contracts, notes, bond anticipation notes, commercial paper, leases, lease-purchases, installment purchases, certificates of participation in agreements or programs, other evidences of indebtedness, or other agreements or purchasing programs.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-11 "Person"
Sec. 11. "Person" means any individual, entity, or organization of any kind.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-12 "Political subdivision"
Sec. 12. "Political subdivision" has the meaning set forth in IC 36-1-2-13, but does not include a township.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-13 "Property owner"
Sec. 13. "Property owner" means all individuals, copartnerships, associations, governmental units or entities, corporations, limited liability companies, or other legal entities having any title or interest in any land, rights-of-way, property, rights, easements, or legal or equitable interests that may be acquired by the IFA, the NWIRDA, or the NICTD. The term includes the NWIRDA, the NICTD, a unit, or a political subdivision.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-14 "Rail project"
Sec. 14. "Rail project" refers only to a rail project as defined in IC 36-7.5-1-13.5 and includes all land, rights-of-way, property, rights, easements, materials, and legal or equitable interests that may be acquired by the IFA, the NWIRDA, or the NICTD for the construction of the rail project. The term includes, but is not limited to, any construction, equipment, rail track, embankments, rights of way, sidings, passenger stations or platforms, parking lots, overpasses, railroad bridges, ancillary structures and related safety systems equipment and technology, or other item that the IFA, the NWIRDA, or the NICTD considers necessary or desirable for the construction and operation of a rail project under this article.
As added by P.L.189-2018, SEC.26.
Ind. Code § 5-1.3-2-15 "Unit"
Sec. 15. "Unit" has the meaning set forth in IC 36-1-2-23, but does not include a township.
As added by P.L.189-2018, SEC.26.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026