Title 5, TITLE 5. STATE AND LOCAL ADMINISTRATION

limitations; authority budget Sec. 27. (a) All expenses incurred by the authority in carrying out the referenced statutes are payable solely from funds provided under the referenced statutes, except to the extent payable from grants or advances from participating providers or any…

Sec. 28. (a) Except as provided in subsection (b), all property, both tangible and intangible, acquired or held by the authority under the referenced statutes is declared to be public property used for public and governmental purposes, and all the property and income from the pro…

Sec. 29. The authority shall, following the close of each fiscal year, submit an annual report of the authority's activities under the referenced statutes for the preceding year to the governor, the budget committee, and the general assembly. A report submitted to the general ass…

Sec. 3. (a) The authority may issue bonds or notes and invest or loan the proceeds of those bonds or notes to a participant for the purposes of one (1) or more programs. (b) If the authority loans money to or purchases debt securities of a political subdivision, the authority may…

Sec. 30. Notwithstanding any statute applicable to or constituting any limitation on the investment or reinvestment of funds by or on behalf of political subdivisions: (1) a participant receiving financial assistance in connection with a program may invest and reinvest funds that…

bonds to the authority Sec. 31. (a) Notwithstanding any other law, a participant may borrow money from the authority for any program by negotiating a loan or other financial assistance directly with the authority and without complying with requirements for the competitive sale of…

Sec. 32. (a) Notwithstanding any other law, the authority, program, or program related fund, or any person or agent acting on behalf of the authority, the program, or the program related fund, is not liable in damages or otherwise to any participant or party seeking to be a parti…

Sec. 33. (a) Notwithstanding any other law and if provided in a financial assistance agreement related to any program, any state department or state agency, including the treasurer of state: (1) that is the custodian of money payable to a participant, other than money in payment …

Sec. 34. A person who, with intent to defraud, knowingly or intentionally makes a material misstatement in connection with an application for a loan or other financial assistance pursuant to any program commits a Level 6 felony. As added by P.L.189-2018, SEC.25.

Sec. 35. The public finance director shall prepare an annual report that provides an update on transportation projects in which the authority is involved. The report must be submitted to the legislative council in an electronic format under IC 5-14-6. As added by P.L.189-2018, SE…

Sec. 36. The authority, after consulting with the treasurer of state, the Indiana bond bank, the budget agency, and the commission for higher education, shall establish and periodically update a state debt management plan. The plan must include at least the following provisions w…

Sec. 37.5. (a) The public finance director shall prepare an annual report that provides information on the programs of the authority under which the drinking water in schools, preschools, and child care facilities is tested for the presence of lead. (b) The report required by thi…

Indiana regional development authority; motorsports investment district; local innovation development district Sec. 4. (a) In addition to the powers listed in section 1 of this chapter, the authority may: (1) enter into leases and issue bonds under terms and conditions determined…

funding levels Sec. 5. (a) This section does not apply to any indebtedness issued by the authority if: (1) the proceeds will be used for a project that has been specifically authorized by the general assembly; or (2) the indebtedness is authorized under the referenced statutes. (…

Sec. 6. (a) The authority has the power to borrow money and to issue its bonds from time to time in the principal amounts as the authority determines are necessary to provide sufficient funds to carry out its purposes, powers, and programs, including: (1) carrying out the purpose…

Sec. 7. Except as may otherwise be expressly provided by the authority, every issue of its bonds shall be obligations of the authority payable solely out of any specified revenue or money of the authority, subject only to any agreements with the holders of particular bonds pledgi…

Sec. 8. No bonds issued by the authority under this article shall constitute a debt, liability, or obligation of the state, or a pledge of the faith and credit of the state, but shall be payable solely as provided by section 7 of this chapter. Each bond issued under this article …

Sec. 9. The bonds shall be authorized by a resolution of the authority, shall bear the date or dates, and shall mature at a time or times as the resolution may provide, except that no bond shall mature more than fifty (50) years from the date of its issue. The bonds shall be in d…

Sec. 1. (a) The IFA, the NWIRDA, and the NICTD are responsible for the construction, leasing, and ownership of rail projects. With respect to and for the construction of each rail project, the IFA and the NWIRDA or the NICTD may enter into a contract for the purposes set forth in…

Sec. 2. A contract may include the following: (1) Provisions for payment by the IFA to the NWIRDA and the NICTD of all costs incurred by the NWIRDA or the NICTD in the performance of the contract, including all costs of construction, salaries, wages, and associated costs of NWIRD…

Sec. 1. The definitions in this chapter apply throughout this article. As added by P.L.19-1987, SEC.6.

Sec. 10. "Financial institution" means any of the following: (1) A bank, trust company, or mutual savings bank that: (A) was incorporated under the law of Indiana or any other state; and (B) has its principal office or a branch in Indiana. (2) A national banking association with …

Sec. 11. "Fiscal body" has the meaning set forth in IC 36-1-2-6. As added by P.L.19-1987, SEC.6.

Sec. 12. "Fiscal officer" has the meaning set forth in IC 36-1-2-7. As added by P.L.19-1987, SEC.6. IC 5-13-4-13 "Economic development obligation" Sec. 13. "Economic development obligation" means any loan or lease by a lender or lessor approved by the board for depositories as re…

Sec. 14. "Economic development project" has the meaning set forth in IC 5-1.2-2 and includes mining operations, agricultural operations that involve the processing of agricultural products, and any other type of business project for which the Indiana finance authority may make a …

Sec. 15. "Insurance fund" refers to the public deposits insurance fund created by IC 5-13-12. As added by P.L.19-1987, SEC.6.

Sec. 16. "Investing officer" means the person having authority by law to invest for the political subdivision, or, if there is no law, the person designated by resolution of the fiscal body. As added by P.L.19-1987, SEC.6.

Sec. 17. "Investment cash management system" means a system in which a depository manages the investment practices of a political subdivision. As added by P.L.19-1987, SEC.6.

Sec. 18. "Local board of finance" refers to a board of finance established under IC 5-13-7. As added by P.L.19-1987, SEC.6.

Sec. 19. (a) Except as provided in subsections (b) and (c), "political subdivision" has the meaning set forth in IC 36-1-2-13. (b) A hospital organized or operated under IC 16-22-1 through IC 16-22-5 or IC 16-23-1 is considered a political subdivision only for purposes of IC 5-13…

Sec. 2. "Board for depositories" refers to the board established under IC 5-13-12. As added by P.L.19-1987, SEC.6.

Sec. 20. "Public funds" means all fees and funds of whatever kind or character coming into the possession of any public officer by virtue of that office. The term does not include: (1) support payments made to the clerk of a circuit court under IC 31-16-9 (or IC 31-1-11.5-13 befo…

Sec. 21. "Public officer" means any person elected or appointed to any office of the state or any political subdivision. "Public officer" includes an officer of all boards, commissions, departments, institutions, and other bodies established by law to function as a part of the go…

Sec. 21.3. "Public servant" has the meaning set forth in IC 35-31.5-2-261. As added by P.L.107-2011, SEC.1. Amended by P.L.114-2012, SEC.14.

Sec. 21.5. "Repurchase agreement" has the meaning set forth in IC 5-13-9-3. As added by P.L.18-1996, SEC.3.

Sec. 22. "State board of finance" refers to the board established by IC 4-9.1. As added by P.L.19-1987, SEC.6.

Sec. 23. "Statement of condition" means the statement filed by each financial institution with its governmental supervisory body. As added by P.L.19-1987, SEC.6.

Sec. 24. "Transaction account" means any deposit account other than a certificate of deposit. As added by P.L.18-1996, SEC.4.

As added by P.L.19-1987, SEC.6. Repealed by P.L.18-1996, SEC.33.

Sec. 4. "Closed depository" includes: (1) a financial institution the business and property of which the department of financial institutions has taken possession of under IC 28-1-3.1 for the purpose of liquidation; (2) a financial institution the business and property of which t…

Sec. 5. "Credit enhancement" means any letter of credit, insurance, guarantee, or other credit enhancement issued by an issuer approved by the board for depositories, which is used to secure debt or leasehold financing for an industrial development obligation. As added by P.L.19-…

Sec. 7. Except as provided in IC 5-13-9-5.3, "deposit accounts" means any of the following: (1) Any account subject to withdrawal by negotiable orders of withdrawal, unlimited as to amount or number, and without penalty, including NOW accounts. (2) Passbook savings accounts. (3) …

Sec. 8. "Depository" refers to a financial institution designated as a depository of public funds under this article. As added by P.L.19-1987, SEC.6.

Sec. 9. "Electronic funds transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing, or …

additional security Sec. 1. (a) The bank may issue its bonds or notes in principal amounts that it considers necessary to provide funds for any purposes under this article, including: (1) the purchase of securities; (2) the payment, funding, or refunding of the principal of, or i…

Sec. 10. All securities purchased, held, or owned by the bank, upon delivery to the bank, must be accompanied by all documentation required by the board. As added by P.L.42-1985, SEC.1.

Sec. 2. (a) A bond or note of the bank: (1) is not a debt, liability, loan of the credit, or pledge of the faith and credit of any qualified entity; (2) is payable solely from the money pledged or available for its payment under this article, unless funded or refunded by bonds or…

Sec. 3. The bonds and notes of the bank are negotiable instruments for all purposes of the Uniform Commercial Code (IC 26-1), subject only to the provisions of the bonds and notes for registration. As added by P.L.42-1985, SEC.1.

or state agency Sec. 4. (a) Bonds or notes of the bank must be authorized by resolution of the board, may be issued in one (1) or more series, and must: (1) bear the date; (2) mature at the time or times; (3) bear interest at the rate or rates of interest or within a maximum rate…

resolution Sec. 5. Upon the adoption of a resolution authorizing the issuance of bonds or notes, any action or proceeding in any court to set aside the resolution authorizing the issuance of bonds or notes of the bank under this article or to obtain any relief upon the ground tha…