Sec. 7. (a) A public officer of the state may invest or reinvest funds held by the officer and available for investment in securities that are:
(1) backed by the full faith and credit of the United States Treasury or fully guaranteed by the United States; and
(2) issued by any of the following:
(A) The United States Treasury.
(B) A federal agency.
(C) A federal instrumentality.
(D) A federal government sponsored enterprise.
(b) If an investment under subsection (a) is made at a cost in excess of the par value of the securities purchased, any premium paid for the securities shall be deducted from the first interest received and returned to the fund from which the investment was purchased, and only the net amount is considered interest income.
As added by P.L.18-1996, SEC.23.
Structure Indiana Code
Title 5. State and Local Administration
Article 13. Investment of Public Funds
Chapter 10.5. State Investments
5-13-10.5-0.3. Legalization of Certain Actions
5-13-10.5-1. Applicability of Chapter
5-13-10.5-2. Authorization for Investment and Reinvestment of Funds
5-13-10.5-4. Protection of Interests of Funds
5-13-10.5-5. Legal Custodian; Safekeeping Receipts
5-13-10.5-6. Restrictions on Public Officers
5-13-10.5-7. Investment in Securities; Cost in Excess of Par
5-13-10.5-8. Investment in Deposit Accounts
5-13-10.5-9. Investment in Repurchase or Resale Agreements; Collateral
5-13-10.5-10. Investment in Obligations Issued; Assumed or Guaranteed by Supranational Issuers
5-13-10.5-11. Investment in Other Obligations
5-13-10.5-11.5. Treasurer of State May Invest
5-13-10.5-12. Investment in Participations in Loans
5-13-10.5-13. Lending Securities
5-13-10.5-14. Designation of Fund
5-13-10.5-15. Public Depository Insurance Assessment