Sec. 25. Revenue bonds issued by the ports of Indiana under the provisions of this article shall constitute legal investments for any private trust funds, and the funds of any banks, trust companies, insurance companies, building and loan associations, credit unions, banks of discount and deposit, savings banks, loan and trust and safe deposit companies, rural loan and savings associations, guaranty loan and savings associations, mortgage guaranty companies, small loan companies, and industrial loan and investment companies, and any other financial institutions organized under Indiana statutes. The bonds are also made securities that may be deposited with and received by all public officers and bodies of Indiana or any agency or political subdivision of Indiana and all municipalities and public commissions for any purpose for which the deposit of bonds or other obligations of Indiana is now or may be later authorized by law.
Formerly: Acts 1961, c.11, s.25. As amended by P.L.66-1984, SEC.11; P.L.42-1993, SEC.7; P.L.224-2003, SEC.222 and P.L.271-2003, SEC.22; P.L.98-2008, SEC.34.
Structure Indiana Code
Title 8. Utilities and Transportation
Chapter 1. Ports of Indiana─organization
8-10-1-0.3. Treatment of References to Indiana Port Commission
8-10-1-1. Construction of Ports and Economic Development Projects Authorized
8-10-1-3. Ports of Indiana; Commission Membership; Term of Office; Official Bond; Compensation
8-10-1-4.5. Certain Pledges Prohibited
8-10-1-5. Ports and Projects; Cooperation With Other Entities; Title to Property
8-10-1-7.5. Public Fishing Areas
8-10-1-10. Property Acquisition, Management, and Disposition
8-10-1-12. Indiana Port Fund; Creation and Administration
8-10-1-13. Revenue Bonds; Terms and Form; Negotiability; Governor Approval Required
8-10-1-14. Use of Proceeds of Revenue Bonds; Replacement of Lost or Destroyed Bonds
8-10-1-16. Trust Agreements; Pledge or Assignment of Revenues
8-10-1-17. Rates and Charges; Fixing; Surplus Net Revenues; Disposition
8-10-1-18. Disposition of Revenues
8-10-1-19. Mandamus or Other Action Compelling Compliance With Law
8-10-1-20. Operation, Policing, and Maintenance of Projects
8-10-1-21. Political Subdivisions; Lease, Grant, or Conveyance of Property to Ports of Indiana
8-10-1-22. Audit of Books and Accounts; Annual Report
8-10-1-23. Adverse or Pecuniary Interest; Member, Agent, or Employee
8-10-1-24. Construction of Law
8-10-1-25. Investment in Revenue Bonds by Financial Institutions