Sec. 38. (a) This chapter contains full and complete authority for the issuance of bonds, the improvement, construction, reconstruction, renovation, purchase, lease, acquisition, and equipping of structures and capital improvements located within a motorsports investment district by the commission and the authority, and the leasing of such structures and capital improvements by the commission or the authority. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the commission, the authority, or any other officer, department, agency, or instrumentality of the state or of any political subdivision is required to issue any bonds under this chapter, to improve, construct, reconstruct, renovate, purchase, lease, acquire, and equip structures and capital improvements located within a motorsports investment district, or to enter into any lease, except as prescribed in this chapter.
(b) Bonds issued under this chapter are legal investments for private trust funds and the funds of banks, trust companies, insurance companies, building and loan associations, credit unions, banks of discount and deposit, savings banks, loan and trust and safe deposit companies, rural loan and savings associations, guaranty loan and savings associations, mortgage guaranty companies, small loan companies, industrial loan and investment companies, and other financial institutions organized under Indiana law.
As added by P.L.233-2013, SEC.5.