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 by the authority and use the proceeds of the bonds to:
(A) acquire obligations issued by any entity authorized to acquire, finance, construct, or lease capital improvements under IC 5-1-17;
(B) acquire any obligations issued by the northwest Indiana regional development authority established by IC 36-7.5-2-1; or
(C) carry out the purposes of IC 5-1-17.5 within a motorsports investment district;
(2) at the request of the Indiana economic development corporation established by IC 5-28-3-1, and subject to subsections (b), (c), and (d), enter into leases and issue bonds under terms and conditions determined by the authority payable solely from:
(A) revenues that are deposited in a local innovation development district fund established under IC 36-7-32.5-19;
(B) revenues generated from a project under IC 36-7-32.5-19; and
(C) appropriations from the general assembly; and
(3) perform any other functions determined by the authority to be necessary or appropriate to carry out the purposes of this section.
(b) The proceeds of bonds issued under subsection (a)(2) may be used to pay the costs of projects:
(1) described in IC 36-7-32.5-19; and
(2) located within or directly serving the innovation development district in which the revenue was generated.
(c) Before the authority enters into leases or issues bonds under subsection (a)(2), the proposed lease or issuance of bonds must be reviewed by the budget committee.
(d) The authority may not issue more than one billion dollars ($1,000,000,000) of bonds under subsection (a)(2).
As added by P.L.189-2018, SEC.25. Amended by P.L.135-2022, SEC.1.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.2. Indiana Finance Authority
Chapter 4. General Powers and Duties
5-1.2-4-1. Powers of Indiana Finance Authority
5-1.2-4-2. Prohibited Activities
5-1.2-4-3. Issuance of Bonds or Notes; Failure to Pay Obligations
5-1.2-4-5. Requirements; Establishment of Terms Governing Reserves or Funding Levels
5-1.2-4-6. Power to Borrow Money and Issue Bonds
5-1.2-4-7. Bonds; Liability of Authority; Pledges as Additional Security
5-1.2-4-8. Bonds; Liability of State
5-1.2-4-9. Bonds; Issuance; Procedure; Terms
5-1.2-4-10. Bonds; Authorized Provisions
5-1.2-4-11. Bonds; Issue to Renew or Pay Bonds; Refund
5-1.2-4-13. Bonds; Purchase by Authority
5-1.2-4-14. Bonds; Trust Agreement or Indenture
5-1.2-4-15. Bonds; Negotiability
5-1.2-4-16. Bonds; Execution; Manual or Facsimile Signatures
5-1.2-4-17. Personal Liability for Acts Authorized by Affected Statutes
5-1.2-4-18. Funds and Accounts; Establishment
5-1.2-4-19. Money; Deposit; Security; Trust Funds
5-1.2-4-20. Money for the Payment of Bonds; Contracts; Security
5-1.2-4-21. Bonds; Pledge of State
5-1.2-4-22. Bonds; Exempt From State Taxes
5-1.2-4-23. Bonds; Legal Investments; Securities
5-1.2-4-24. Application of State Laws
5-1.2-4-25. Bonds; Exempt for Securities Registration
5-1.2-4-26. Bond Holders; Right to Specific Performance
5-1.2-4-27. Payment of Expenses and Power to Incur Indebtedness; Limitations; Authority Budget
5-1.2-4-28. Property; Tax Exemption
5-1.2-4-30. Participants May Invest Funds
5-1.2-4-33. Financial Assistance Agreement; Default by the Participant
5-1.2-4-34. Violations; Material Misstatement in Application
5-1.2-4-36. State Debt Management Plan; Established by the Authority