Title 5, STATE AND LOCAL ADMINISTRATION

Sec. 2. As used in this chapter, "board" refers to the board of trustees of the Indiana public retirement system established by IC 5-10.5-3-1. As added by P.L.104-2023, SEC.1.

Sec. 3. As used in this chapter, "control" means the following: (1) Control as defined in the Investment Company Act of 1940 (15 U.S.C. 80a–2(a)). (2) Involvement in an entity's governance structure, monitoring, or internal human resources decisions of an entity consistent with t…

Sec. 4. As used in this chapter, "divest" means a sale, redemption, replacement, or any other activity that terminates the investment. As added by P.L.104-2023, SEC.1.

Sec. 5. As used in this chapter, "fund" refers to any public pension and retirement funds of the system (as defined in IC 5-10.5-1-5). As added by P.L.104-2023, SEC.1.

Sec. 6. As used in this chapter, "investment" refers to any investment that the board or system is authorized to make under IC 5-10.5-5 or another law. As added by P.L.104-2023, SEC.1.

Sec. 7. As used in this chapter, "person" means an individual or entity. As added by P.L.104-2023, SEC.1.

Sec. 8. As used in this chapter, "restricted entity" refers to the following, including wholly owned subsidiaries, majority owned subsidiaries, parent companies, and affiliates that exist for profit-making purposes: (1) Any person (other than a U.S. person (as defined in 15 CFR 7…

Sec. 9. As used in this chapter, "restricted investment product" refers to an investment product that: (1) is managed by one (1) or more persons: (A) that are not employed by the system; and (B) in which the system on behalf of the fund owns investments together with investors ot…

Sec. 1. (a) Any bonds, notes, or warrants, whether payable from property taxes, revenues, or any other source, are not subject to the maximum interest rate limitations contained in any law enacted before December 31, 1982, if they are issued by or in the name of any entity named …

Sec. 1.2. As used in this chapter, "issuer" means any issuer of obligations that is referred to in IC 5-1-1-1(b). As added by P.L.37-1988, SEC.2.

Sec. 1.3. The following definitions apply throughout this chapter: (1) "Local issuing body" has the meaning set forth in IC 5-1-5-1. (2) "Special benefit taxes" has the meaning set forth in IC 5-1-5-1. (3) "Swap agreement" has the meaning set forth in IC 8-9.5-9-4, except that th…

Sec. 1.5. As used in this chapter, "obligations" has the meaning set forth in IC 5-1-3-1(2). As added by P.L.37-1988, SEC.3. Amended by P.L.88-2021, SEC.3.

Sec. 10. (a) If an issuer has issued obligations under a statute that establishes a maximum term or repayment period for the obligations, notwithstanding that statute, the issuer may continue to make payments of principal, interest, or both, on the obligations after the expiratio…

Sec. 11. If an issuer is authorized by statute to issue obligations and to make payments of principal and interest to owners of those obligations from any source, the issuer is authorized to pay fees and charges associated with the issuance of the obligations from that source, in…

Sec. 12. Notwithstanding any other law, if an agency, an authority, a board, a department, or a commission of a unit (as defined in IC 36-1-2) is authorized to issue obligations in the name of the unit for any purpose for which any other agency, authority, board, department, or c…

Sec. 12.5. Notwithstanding any other law, an issuer may purchase any obligations on terms the issuer finds reasonable and may issue its obligations to effectuate that purpose on terms that the issuer finds reasonable. As added by P.L.224-2003, SEC.265.

Sec. 13. The following provisions apply when an issuer negotiates a sale of obligations and a statute does not specify a time within which to contest the validity of the obligations or the sale of the obligations: (1) No action to contest the validity of the obligations may be br…

Note: This version of section effective until 7-1-2028. See also following version of this section, effective 7-1-2028. Sec. 14. (a) Notwithstanding any other law, a municipality may sell the municipality's interest in any notes payable to the municipality at a negotiated sale. (…

Sec. 15. (a) Before July 1, 2008, a county or municipality may issue bonds, notes, or other obligations for the purpose of providing funds to pay pension benefits under IC 36-8-6, IC 36-8-7, or IC 36-8-7.5. (b) Notwithstanding any other law: (1) bonds, notes, or other obligations…

Sec. 16. (a) This section applies to obligations that are: (1) issued after June 30, 2008, by a local issuing body; and (2) payable from ad valorem property taxes, special benefit taxes on property, or tax increment revenues derived from property taxes; including obligations that…

Sec. 17. (a) This section applies to a qualified political subdivision. (b) As used this section, "general obligation bond" means a bond issued for a short term period of not more than five (5) years and payable from property taxes for a purpose or project that is not a controlle…

Sec. 17.2. (a) This section does not apply to a political subdivision or other local entity when the political subdivision or other local entity participates in a program sponsored by the Indiana bond bank in which the actions of the Indiana bond bank are subject to this section.…

Sec. 18. In connection with the issuance by the issuer of any obligation described in IC 5-1-1-1(b), the execution of the obligation (including any contract, certificate, or other document executed on behalf of the issuer in connection with the execution of the obligation) using …

Sec. 19. (a) This section applies to a contract between a municipal entity and a municipal advisor in effect on or after January 1, 2026. (b) As used in this section, "municipal advisor" means a person who is not an employee of the municipal entity who: (1) provides advice to or …

Sec. 2. Any bonds, notes, or warrants, whether payable from property taxes, revenues, or any other source, issued by an entity enumerated in section 1(a) of this chapter may provide that the bonds, notes, or warrants may be payable before maturity from available funds and with su…

Sec. 3. Notwithstanding any other law, any issuer may take any reasonable and necessary action to establish or maintain the exclusion from gross income for interest on obligations of the issuer under federal law. These actions may include, without limitation: (1) filing informati…

Sec. 4. (a) Notwithstanding any other law, a pledge of revenues or other money, or property made by any issuer is binding from the time the pledge is made. Revenues or other money, or property pledged and thereafter received by the issuer are immediately subject to the lien of th…

Sec. 5. Notwithstanding any other law, any city, town, county, school corporation, or regional district organized under IC 13-26 or IC 13-3-2 (before its repeal) that has complied with all statutory requirements for the issuance of its bonds, other than IC 5-1-11 or any public sa…

Sec. 6. (a) Notwithstanding any other law, an issuer may use proceeds of its obligations to pay the reasonable cost of issuance of the obligations or to fund reasonably required debt service reserves to secure the payment of the obligations. (b) Notwithstanding any other law, an …

Sec. 7. (a) This section applies to: (1) each county having a population of more than one hundred eighty thousand (180,000) and less than one hundred eighty-five thousand (185,000); and (2) each second class city located in a county described in subdivision (1). (b) As used in th…

Sec. 8. If a statute provides that amounts due under a loan to a political subdivision (as defined in IC 36-1-2) or a local public improvement bond bank shall or may be withheld by the state comptroller from other money payable to the political subdivision or bond bank upon failu…

Sec. 9. (a) The general assembly covenants that it will not adopt, amend, or repeal a statute in a way that impairs the rights and remedies of the owners of obligations, until the obligations, interest on the obligations, interest on an unpaid installment of interest, and all cos…

Sec. 1. As used in this chapter, "dies in the line of duty" refers to a death that occurs as a direct result of personal injury or illness resulting from an action that an employee, in the employee's capacity as an employee, is obligated or authorized to perform by rule, regulati…

Sec. 2. As used in this chapter, "employee" means an individual who is employed full time by the state as a state police officer. As added by P.L.24-2005, SEC.2.

Sec. 3. (a) If the state police department offers health coverage for active employees, the state police department shall offer to provide and pay for health coverage under the health coverage plan provided for active employees for: (1) the surviving spouse; and (2) each natural …

Sec. 1. (a) As used in this section, "official" includes the following: (1) An elected official who is entitled to attend a conference under this section. (2) An individual elected to an office who is entitled to attend a conference under this section. (3) A deputy or an assistan…

Sec. 2. (a) The state board of accounts shall annually conduct a training institute for clerk-treasurers and may conduct a training institute for city clerks, either of the entire state or by districts. The provisions of this chapter are applicable to any such training institute.…

Sec. 1. At the request of the department of environmental management, the authority shall carry out the program established under this chapter. As added by P.L.189-2018, SEC.25.

Sec. 1.2. As used in this chapter, "non-revenue water" means the difference between the amount of water that enters a water distribution system and the amount of water provided to users of the water distribution system. As added by P.L.56-2019, SEC.1.

Sec. 10. (a) The authority may pledge loans, evidences of other financial assistance, and other obligations evidencing the loans or other financial assistance from the water infrastructure assistance fund to secure other loans or financial assistance from: (1) the water infrastru…

Sec. 11. Not later than August 1 of each odd-numbered year through 2021, the public finance director shall prepare for the budget committee established by IC 4-12-1-3 and the legislative council a report that includes the following: (1) Information concerning the financial assist…

Sec. 12. The authority shall, if appropriate, require a participant receiving a loan or other financial assistance from the water infrastructure assistance fund to establish under applicable law and maintain sufficient user charges or other charges, fees, taxes, special assessmen…

Sec. 13. (a) As an alternative to making loans or providing other financial assistance to participants, the authority may use the money in the water infrastructure assistance fund to provide a leveraged loan program and other financial assistance programs to or for the benefit of…

Sec. 14. Notwithstanding any other law, money in the water infrastructure assistance fund, together with loan repayments to be deposited in the fund, may be used to establish a leveraged loan program or other financial assistance programs established in connection with the water …

Sec. 2. The water infrastructure assistance program is established. As added by P.L.189-2018, SEC.25.

Sec. 3. (a) The water infrastructure assistance fund is established as a source of money for grants, loans, and other financial assistance to, or for the benefit of, participants in the program. (b) The fund shall be administered, held, and managed by the authority. (c) The autho…