Title 5, TITLE 5. STATE AND LOCAL ADMINISTRATION

designated funds Sec. 3.6. As provided in section 3 of this chapter, each of the following units of state government and eligible federal projects shall bear the direct and indirect costs of its own examination from the following designated funds: (1) Indiana department of transp…

Sec. 4. All disbursing officers be and they are hereby authorized to make all disbursements or payments required to be made under the provisions of this chapter without any appropriation being made therefor. Formerly: Acts 1945, c.15, s.4. As amended by P.L.25-1986, SEC.38.

Sec. 1. (a) The authority is granted all powers necessary or appropriate to carry out and effectuate its public and corporate purposes under the referenced statutes, including the following: (1) Have perpetual succession as a body politic and corporate and an independent instrume…

Sec. 10. Any resolution authorizing the issuance of bonds or trust agreement or indenture pursuant to which the bonds are issued may contain provisions, which shall be a part of the contract or contracts with the holders of the bonds, as to the following: (1) Pledging all or any …

Sec. 11. (a) The authority has the power to issue, from time to time, bonds to renew or to pay bonds, including the interest on these bonds, whenever the authority considers refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded ha…

Sec. 12. Any pledge made by the authority is valid and binding from the time when the pledge is made. The revenue, money, or properties so pledged and received by the authority after the pledge is immediately subject to the lien of the pledge without any physical delivery or furt…

Sec. 13. The authority, subject to any agreements with bondholders as may then exist, has the power out of any funds available to purchase bonds of the authority, which, at the option of the authority, shall be canceled after the purchase, at any reasonable price which, if the bo…

Sec. 14. The bonds may be secured by a trust agreement or indenture by and between the authority and a corporate trustee, which may be a bank having the power of a trust company or any trust company within or without the state. The trust agreement or indenture may contain provisi…

Sec. 15. Whether the bonds are in the form and character of negotiable instruments, the bonds are negotiable instruments, subject only to provisions of the bonds relating to registration. As added by P.L.189-2018, SEC.25.

Sec. 16. Any bonds issued by the authority under this article shall be executed by the manual or facsimile, except as otherwise provided in this article, signatures of the officers or agents of the authority that the authority designates. If bonds are issued pursuant to a trust i…

Sec. 17. The members of the authority, the officers and employees of the authority, the public finance director, any agents of the authority, and any other persons executing bonds issued under the referenced statutes are not subject to personal liability or accountability by reas…

Sec. 18. The authority may create and establish any funds and accounts necessary or desirable for the authority's purposes. As added by P.L.189-2018, SEC.25. IC 5-1.2-4-19 Money; deposit; security; trust funds Sec. 19. All money received by the authority, except as provided in th…

Sec. 2. The authority: (1) may not deal in securities within the meaning of or subject to any securities law, securities exchange law, or securities dealers law of the United States or of the state of Indiana or of any other state or jurisdiction, domestic or foreign, except as a…

Sec. 20. Notwithstanding section 19 of this chapter, the authority has the power to contract with the holders of any of its bonds as to the custody, collection, securing, investment, and payment of any money of the authority and of any money held in trust or otherwise for the pay…

Sec. 21. The state pledges to and agrees with the holder of any bonds issued under this article that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with bondholders or in any way impair the rights or remedies of bo…

Sec. 22. Bonds issued under this article and: (1) proceeds received from their sale by a holder, to the extent of the holder's costs of acquisition; (2) proceeds received on their redemption before maturity; (3) proceeds received at their maturity; and (4) interest received on th…

Sec. 23. The bonds issued under this article by the authority are declared to be legal investments in which all public officers or public bodies of this state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and …

Sec. 24. (a) The issuance of bonds and the adoption of rules under the referenced statutes need not comply with the requirements of any other state laws applicable to the issuance of the bonds or adoption of these rules. No proceedings, notice, or approval is required for the iss…

Sec. 25. Any bonds issued by the authority pursuant to this article and any other securities issued in connection with a financing under this article are exempt from the registration and other requirements of IC 23-19 and any other securities registration laws. As added by P.L.18…

Sec. 26. Any holder of bonds or any coupons appertaining to the bonds, and the trustee under any trust agreement or resolution authorizing the issuance of the bonds, except to the extent the rights given in this article may be restricted by the trust agreement or resolution, may,…

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…