Title 8, TITLE 8. UTILITIES AND TRANSPORTATION
337 chapters · 3,744 sections in this title.
Ind. Code § 8-14-15.2-1 "Authority"
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Sec. 1. As used in this chapter, "authority" refers to the Indiana finance authority. As added by P.L.189-2018, SEC.79.
Ind. Code § 8-14-15.2-10 Use of principal to make and secure certain lease rental
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payments; transfer of money if insufficient grant proceeds are received from the federal government; report by the state budget director Sec. 10. (a) The principal of the trust may be used to make and secure lease rental payments that: (1) are payable from grant proceeds from the…
Ind. Code § 8-14-15.2-12 Diminishment of trust principal; deposit of trust income;
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transfer of trust income to major moves construction fund Sec. 12. (a) Except as otherwise required by section 10 of this chapter, the principal of the trust may not be diminished during the term of the trust. (b) The income that accrues from investment of the trust shall be depo…
Ind. Code § 8-14-15.2-13 Trust report is a public record; attorney general may petition
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for accounting Sec. 13. The report required under IC 30-4-5-12 is a public record. The attorney general may petition for an accounting as permitted by IC 30-4-5-12. As added by P.L.189-2018, SEC.79.
Ind. Code § 8-14-15.2-14 Petition by attorney general for remedies if breach of trust,
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violation of trust mandate, or violation of duty Sec. 14. (a) This section applies if a person does any of the following with respect to a trust created under this chapter: (1) Commits a breach of the trust. (2) Violates the mandate of the trust or trust agreement. (3) Violates a…
Ind. Code § 8-14-15.2-15 Examination of records, files, and documents by the state
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board of accounts Sec. 15. Any records, files, or documents relating to the trust may be examined by the state board of accounts at a time selected by the state board of accounts. The trustee shall upon request of the state board of accounts: (1) produce and submit any records, f…
Ind. Code § 8-14-15.2-2 "Principal of the trust"
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Sec. 2. As used in this chapter, "principal of the trust" means an amount equal to two hundred fifty million dollars ($250,000,000). As added by P.L.189-2018, SEC.79.
Ind. Code § 8-14-15.2-3 "Trust"
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Sec. 3. As used in this chapter, "trust" refers to the next generation trust fund established under this chapter. As added by P.L.189-2018, SEC.79.
Ind. Code § 8-14-15.2-4 "Trustee"
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Sec. 4. As used in this chapter, "trustee" refers to the trustee of the trust designated under section 8 of this chapter. As added by P.L.189-2018, SEC.79.
Ind. Code § 8-14-15.2-5 Establishment of next generation trust; uses of the trust
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Sec. 5. (a) The authority shall establish a next generation trust fund to hold title to proceeds transferred to the trust fund under IC 8-14-15.1-5.5 or section 10 of this chapter, to be used exclusively for the provision of highways, roads, and bridges for the benefit of the peo…
Ind. Code § 8-14-15.2-6 Trust agreement
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Sec. 6. The chairperson of the authority shall enter into a trust agreement on behalf of the authority with the treasurer of state in conformity with IC 30-4-2-1. Any provision of the trust agreement entered into under this section that is inconsistent with the provisions or inte…
Ind. Code § 8-14-15.2-7 Trust established as an irrevocable trust; termination of trust
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Sec. 7. A trust established under this chapter must be an irrevocable trust and may not be revoked or terminated by the authority or any other person, nor may it be amended or altered by the authority or any other person. However, the terms of the trust must provide that the trus…
Ind. Code § 8-14-15.2-8 Treasurer of state as trustee of the trust
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Sec. 8. The treasurer of state shall act as the trustee of the trust. As added by P.L.189-2018, SEC.79.
Ind. Code § 8-14-15.2-9 Duties of the trustee; investment of money in the trust
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Sec. 9. (a) The trustee shall: (1) administer and manage the trust; (2) invest the money in the trust; and (3) deposit in the trust any interest that accrues from the investment of these funds. (b) Notwithstanding IC 5-13, the trustee shall invest the money in the trust not curre…