Sec. 9. (a) The authority shall establish the interest rate or parameters for establishing the interest rate on each loan and other financial assistance made under this chapter, including parameters for establishing the amount of interest subsidies.
(b) The authority, in setting the interest rate or parameters for establishing the interest rate on each loan and other financial assistance, may take the following into account:
(1) Credit risk.
(2) Environmental enforcement and protection.
(3) Affordability.
(4) Other fiscal factors the authority considers relevant, including the program's cost of flood control funds and whether the financial assistance provided to a particular participant is taxable or tax exempt under federal law.
Based on the factors set forth in subdivisions (1) through (4), more than one (1) interest rate may be established and used for loans and other financial assistance to different participants or for different loans and other financial assistance to the same participants.
As added by P.L.189-2018, SEC.25.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.2. Indiana Finance Authority
Chapter 13. Flood Control Program
5-1.2-13-2. Flood Control Program and Fund; Establishment
5-1.2-13-3. Loans and Financial Assistance; Procedures
5-1.2-13-4. Loans and Financial Assistance; Use of Money
5-1.2-13-5. Loans and Financial Assistance; Conditions
5-1.2-13-6. Application; Financial Assistance Agreement; Assurances
5-1.2-13-8. Priority Ranking System
5-1.2-13-10. Financial Assistance Agreement
5-1.2-13-11. Loan or Other Financial Assistance; Required Documents