Title 5, STATE AND LOCAL ADMINISTRATION

Sec. 8.3. (a) As used in this section, "department" refers to the state personnel department. (b) The department shall establish, or contract for the establishment of, at least two (2) retiree health benefit plans to be available for former employees of: (1) the state; and (2) th…

Sec. 8.4. Except as provided by an enactment of the general assembly, an election by an employer under: (1) section 8(f) of this chapter concerning the payment of a retired employee's premium; or (2) section 8(j) of this chapter concerning Medicare coverage and program eligibilit…

Sec. 8.5. (a) The following are established to provide funding for a retiree health benefit plan developed under IC 5-10-8.5, including to provide continued funding for a retiree health benefit plan for individuals described in IC 5-10-8.5-9.7(a) and the individuals who elect to …

Sec. 8.6. (a) This section does not apply to cigarette tax revenues deposited in the retiree health benefit trust fund or the 2027 retiree health benefit trust fund under IC 6-7-1-28.1(6)(B) after December 31, 2026. (b) The INPRS shall do the following not later than December 31,…

Sec. 9. (a) This section does not apply if the application of this section would increase the premiums of the health services policy or plan, as certified under IC 27-8-5-15.7, by more than four percent (4%) as a result of complying with subsection (c). (b) As used in this sectio…

Sec. 1. The general purposes of this chapter are the following: (1) To provide financing for educational facility projects. (2) To provide a measure of assistance and an alternative method to enable nonprofit colleges or universities in Indiana to refund or refinance outstanding …

Sec. 10. (a) The authority may, for financing purposes, combine an educational facility project or educational facility projects and some or all future educational facility projects of any nonprofit college or university or nonprofit colleges or universities if: (1) the authority…

Sec. 11. The authority may mortgage all or any part of: (1) any educational facility project and any other educational facilities conveyed to the authority for an educational purpose; and (2) the site or sites of the facilities, whether presently owned or subsequently acquired; f…

Sec. 12. The authority may join in a risk retention group with state educational institutions or any nonprofit college or university. As added by P.L.189-2018, SEC.25.

Sec. 13. All expenses incurred in carrying out this chapter are payable solely from funds provided under the authority of this chapter. As added by P.L.189-2018, SEC.25.

Sec. 14. The authority shall promptly take any action and execute any deeds and conveyances necessary and required to convey the title to an educational facility project or educational facility projects to the appropriate nonprofit college or university whenever: (1) the principa…

Sec. 15. Any income received from the investment of reserves or sinking funds must be applied in reduction of the rentals or other amounts paid by the nonprofit college or university or nonprofit colleges or universities for whose educational facility project or educational facil…

Sec. 16. (a) In connection with any lease entered into between the authority and any nonprofit college or university, the authority shall fix, revise, charge, and collect rents for the use of each educational facility project and contract with any person, partnership, association…

Sec. 17. The authority may provide for the issuance of bonds of the authority: (1) to refund any bonds of the authority then outstanding, including the payment of any redemption premium on the bonds and any interest accrued or to accrue to the earlier or any subsequent date of re…

Sec. 18. The proceeds of any bonds issued for the purpose of refunding outstanding bonds may, in the discretion of the authority: (1) be applied to the purchase or retirement at maturity or redemption of the outstanding bonds either on their earliest or any subsequent redemption …

Sec. 19. Any escrowed proceeds, pending use for the refunding of outstanding bonds, may be invested and reinvested in: (1) direct obligations of the United States of America; or (2) obligations having the timely payment of principal and interest unconditionally guaranteed by the …

Sec. 2. This chapter applies only to educational facilities and not to any other facilities financed by the authority. As added by P.L.189-2018, SEC.25.

Sec. 20. All bonds issued to refund outstanding bonds of the authority are subject to this chapter in the same manner and to the same extent as other bonds issued under this chapter. As added by P.L.189-2018, SEC.25.

Sec. 21. Except as provided in IC 21-36-2, an educational facility project is not subject to any statutory requirement of competitive bidding or other restriction imposed on the procedure for award of contracts or the lease, sale, or other disposition of property with regard to a…

Sec. 22. Notwithstanding any other provision of this chapter, the authority may: (1) finance the cost of an educational facility or refund outstanding indebtedness of a nonprofit college or university, as authorized under section 8 of this chapter; or (2) finance the establishmen…

Sec. 23. (a) Any promissory notes received under section 22 of this chapter: (1) must have the same principal amounts, maturities, and interest rates as the bonds being issued; (2) may be secured by a first mortgage lien on the educational facility being financed or by a first mo…

Sec. 24. If an educational facility is financed and mortgaged under sections 22 and 23 of this chapter: (1) the title to the facility must remain in the nonprofit college or university owning the facility, subject to the lien of the mortgage securing the promissory notes then bei…

Sec. 25. Section 15 of this chapter does not apply to any educational facility or any liability or loss insurance reserves financed under this section and sections 22 through 24 of this chapter. However, the authority shall return the promissory notes purchased through the issuan…

Sec. 3. Except as otherwise expressly provided in this chapter, none of the powers granted to the authority under this chapter are subject to the supervision or regulation or require the approval or consent of: (1) any municipality or political subdivision; (2) any department, di…

Sec. 4. (a) The authority may determine the location and character of any educational facility project to be financed under this chapter. (b) The authority may construct, reconstruct, remodel, maintain, manage, enlarge, alter, add to, repair, operate, lease as lessee or lessor, r…

Sec. 5. The authority: (1) may require that the rates, rents, fees, or charges established by a nonprofit college or university are sufficient to discharge the institution's obligations to the authority; but (2) has no other jurisdiction over the rates, rents, fees, or charges. A…

Sec. 6. The authority may: (1) establish rules for the use of an educational facility project or any part of an educational facility project; and (2) designate a nonprofit college or university as the authority's agent to establish rules for the use of an educational facility pro…

Sec. 7. (a) The authority may make loans to any nonprofit college or university for the cost of an educational facility project, including the establishment of liability or other loss insurance reserves or the contribution of those reserves to a risk retention group for the purpo…

Sec. 8. (a) The authority may make loans to a nonprofit college or university to refund outstanding obligations or advances issued, made, or given by the nonprofit college or university for the cost of an educational facility project, including the establishment of liability or o…

Sec. 9. The authority may charge to and apportion among nonprofit colleges or universities the authority's administrative costs and expenses incurred in the exercise of the powers and duties conferred by this chapter. As added by P.L.189-2018, SEC.25.

Sec. 1. (a) A political subdivision may deposit public funds in a financial institution only if the financial institution: (1) is a depository eligible to receive state funds; and (2) has a principal office or branch that qualifies under section 9 of this chapter to receive publi…

Sec. 13. Any depository designated under this chapter may resign as a depository and relinquish all public funds on deposit with the depository. The resignation is effective after thirty (30) days notice in writing to the state board of finance and after settlement with the prope…

Sec. 14. A financial institution may not be designated as a depository under this chapter if the financial institution would be disqualified from being awarded a contract under IC 5-22-16.5. As added by P.L.21-2012, SEC.2.

Sec. 6. (a) The state board of accounts shall prepare and consolidate the forms that are required under this chapter or IC 5-13-9.5, or both, to eliminate unnecessary paperwork. (b) These forms must be used by the state board of finance and the several local boards of finance and…

Sec. 7. (a) As used in this section, "Indiana resident" means any of the following: (1) An individual who is a resident of Indiana. (2) A political subdivision (as defined in IC 36-1-2-13) in Indiana. (3) A corporation, a limited liability company, a partnership, a limited partne…

Sec. 9. (a) All public funds of all political subdivisions shall be deposited in the designated depositories located in the respective territorial limits of the political subdivisions, except as provided in this section. (b) Each board of finance of a political subdivision: (1) t…

Sec. 1. The bank, to carry out the purposes and policies of this article, may purchase securities offered by a qualified entity. Notwithstanding any law to the contrary, a qualified entity may sell its securities to the bank at a negotiated, private sale. The bank, for this purpo…

Sec. 2. (a) All securities at any time purchased, held, or owned by the bank shall at all times be purchased and held in the name of the bank. (b) All securities at any time purchased by the bank, upon delivery to the bank, shall be accompanied by all documentation required by th…

Sec. 3. Every qualified entity is authorized and empowered to contract with the bank with respect to the purchase of its securities, and the contracts shall contain the terms and conditions of the purchase and may be in any form agreed to by the bank and the qualified entity, inc…

Sec. 4. Upon the sale and delivery by a qualified entity of any securities to the bank, the qualified entity shall be deemed to have agreed that upon its failure to pay interest or principal on the securities owned or held by the bank when payable, all statutory defenses to nonpa…

Sec. 5. (a) Notwithstanding any law applicable to a qualified entity concerning the issuance of bonds, a qualified entity that has complied with all statutory requirements for the issuance of its bonds may (in lieu of issuing bonds at that time and without complying with any othe…

Sec. 6. (a) Notwithstanding any other law applicable to a qualified entity as to borrowing money, a qualified entity may issue and sell its notes to the bank, and the bank may purchase these notes. The notes must be issued pursuant to a resolution of the qualified entity, and the…

Sec. 1. The bank, to carry out the purposes and policies of this article, may purchase securities of the qualified entity, including any securities issued by a school corporation to refund bonds or other obligations that were issued or entered into by a school corporation before …

Sec. 2. (a) All securities at any time purchased, held, or owned by the bank shall at all times be purchased and held in the name of the bank. (b) Except for agreements described in IC 5-1.5-1-10(4), all securities at any time purchased by the bank, upon delivery to the bank, sha…

Sec. 3. (a) Every qualified entity is authorized and empowered to contract with the bank with respect to the loan or purchase of its securities, and the contracts shall contain the terms and conditions of the loan or purchase and may be in any form agreed to by the bank and the q…

Sec. 4. Upon the sale and delivery by a qualified entity of any securities to the bank, the qualified entity shall be deemed to have agreed that upon its failure to pay interest or principal on the securities owned or held by or arising from an agreement with the bank when payabl…