Sec. 13. (a) The board for depositories shall hold until paid in accordance with its terms the instrument of indebtedness evidencing the obligation of the budget agency to repay the loan made from the public deposit insurance fund to the state general fund under P.L.224-2003, SECTION 116, as amended by P.L.229-2011, SECTION 277. The budget agency shall pay the loan in ten (10) equal annual installment payments made each July, beginning July 2013 and ending July 2022.
(b) There is annually appropriated to the budget agency from the state general fund five million dollars ($5,000,000) each July, beginning July 2013, and ending July 2022, to make the payments required by subsection (a).
(c) This section expires July 1, 2023.
As added by P.L.93-2013, SEC.4.
Structure Indiana Code
Title 5. State and Local Administration
Article 13. Investment of Public Funds
Chapter 12. Board for Depositories
5-13-12-1. Creation; Purpose; Public Deposit Insurance Fund; Tax Exemption
5-13-12-3. Function, Powers, and Purpose
5-13-12-4. Secretary-Investment Manager; Powers and Duties
5-13-12-8.6. Validity of Certain Loan Guaranties
5-13-12-11. Loans to Commuter Transportation District