Judge Scopelitis issued an order requiring a $1.9 billion bond. The Indy Star story is here. I seem to recall that the statute allowing such a bond to be required also provides for an expedited appeal process.
Hopefull I’ll be able to post more before too long.
Update You’ll be happy to know that the state doesn’t have any public debt. (Decision at p. 18.) This conclusion is based, in part, by the fact that the General Assembly has appropriated money each year to pay unfunded liabilities such as the Teachers Retirement Fund. The Toll Road is not worth very much to the State, by contrast, because the State has not historically seen fit to raise tolls on the Toll Road.
The Court does not see fit to speculate on the consequences to the Toll Road valuation if the tolls were increased by the General Assembly (Decision at p. 21), but does see fit to speculate that Indiana would be stigmatized and not receive a comparable bid if litigation were allowed to move forward and Indiana was forced to rebid the lease at a later date. (Decision at p. 22-23.)
The Indiana Finance Authority is a “municipal corporation.” (Decision at p. 26) (nevermind its statewide scope.)
The Plaintiffs may proceed with the portions of the lawsuit challenging certain parts of HEA 1008-2005 as impermissible special legislation (e.g. the Perry Township provision.)
The bond is required because the Court decided Indiana doesn’t have any public debt, because the Court decided that selling something less than fee simple absolute rights in the Toll Road as a lease doesn’t constitute a “sale,” and because the Court decided that the Indiana Finance Authority is a municipal corporation.