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Chapter 1. Definitions
5-1.5-1-1. Application - Sec. 1. The definitions in this chapter apply throughout this...
5-1.5-1-2. "Bank" - Sec. 2. "Bank" refers to the Indiana bond bank established...
5-1.5-1-3. "Board" - Sec. 3. "Board" refers to the board of directors established...
5-1.5-1-4. "Bond" - Sec. 4. "Bond" means a bond of the bank issued...
5-1.5-1-5. "Financial Institution" - Sec. 5. "Financial institution" means a financial institution as defined...
5-1.5-1-6. "Holder" - Sec. 6. "Holder" means a person who is: (1) the...
5-1.5-1-7. "Note" - Sec. 7. "Note" refers to a note of the bank...
5-1.5-1-8. "Qualified Entity" - Sec. 8. "Qualified entity" means: (1) a political subdivision (as...
5-1.5-1-9. "Reserve Fund" - Sec. 9. "Reserve fund" means a reserve fund established under...
5-1.5-1-10. "Security" - Sec. 10. "Security" means: (1) a bond, note, or evidence...
Chapter 2. Establishment and Organization
5-1.5-2-1. Indiana Bond Bank; Establishment; Nature; Purpose - Sec. 1. There is established the Indiana bond bank, a...
5-1.5-2-2. Board of Directors; Establishment; Powers; Membership; Appointment; Vacancy - Sec. 2. (a) There is established a board of directors...
5-1.5-2-2.5. Repealed - As added by P.L.38-1988, SEC.2. Repealed by P.L.134-2012, SEC.5.
5-1.5-2-3. Duties of Board - Sec. 3. The board shall: (1) elect one (1) of...
5-1.5-2-4. Quorum - Sec. 4. Four (4) directors constitute a quorum at any...
5-1.5-2-5. Action by Affirmative Vote of Three Directors; Effect of Vacancy - Sec. 5. Action may be taken by the board at...
5-1.5-2-6. Surety Bonds; Issuer; Cost - Sec. 6. (a) Each director and the executive director must...
5-1.5-2-7. Disclosure of Interest in Contracts; Abstention With Respect to Contract; Validity of Contract - Sec. 7. (a) Notwithstanding any other law to the contrary,...
5-1.5-2-8. Liability on Bonds or Notes - Sec. 8. Neither a director nor a person executing bonds...
5-1.5-2-9. Executive Director; Duties - Sec. 9. The executive director appointed under section 3 of...
5-1.5-2-10. Repealed - As added by P.L.5-1996, SEC.5. Repealed by P.L.177-2011, SEC.5.
Chapter 3. Powers and Duties
5-1.5-3-1. Powers - Sec. 1. (a) The bank is granted all powers necessary,...
5-1.5-3-2. Duties - Sec. 2. The bank may: (1) make, enter into, and...
5-1.5-3-3. Investments - Sec. 3. Money not being used to purchase securities may...
5-1.5-3-4. Prohibited Acts - Sec. 4. The bank may not: (1) lend money other...
5-1.5-3-5. Audit of Books and Accounts; Costs; Copy; Annual Report to Governor - Sec. 5. (a) The bank shall have an audit of...
5-1.5-3-6. Annual Budget - Sec. 6. The board shall adopt, on either a calendar...
5-1.5-3-7. Expenses - Sec. 7. All expenses incurred in carrying out this article...
5-1.5-3-8. Public Meetings; Records - Sec. 8. All meetings of the bank shall be open...
Chapter 4. Issuance of Obligations
5-1.5-4-1. Purposes; Bonds to Be General Obligations of Bank Payable Out of Revenues or Funds of Bank; Limitation on Amount Outstanding; Exception to Limitation - Sec. 1. (a) The bank may issue its bonds or...
5-1.5-4-2. Nature of Bond or Note; State Pledge and Agreement - Sec. 2. (a) A bond or note of the bank:...
5-1.5-4-3. Negotiability of Bonds and Notes - Sec. 3. The bonds and notes of the bank are...
5-1.5-4-4. Issuance; Resolution; Consent, Proceedings, or Conditions; Rates of Interest; Redemption; Prior Approval - Sec. 4. (a) Bonds or notes of the bank must...
5-1.5-4-5. Resolution Authorizing Issuance; Adoption; Publication of Notice; Action to Set Aside Resolution - Sec. 5. (a) Upon the adoption of a resolution authorizing...
5-1.5-4-6. Public or Private Sale; Notice - Sec. 6. Bonds or notes of the bank may be...
5-1.5-4-7. Issuance of Notes; Payment of Principal or Interest Thereon; Funding or Refunding - Sec. 7. The bank may from time to time issue...
5-1.5-4-8. Trust Agreement or Resolution; Provisions; Expenses - Sec. 8. (a) In the discretion of the board, any...
5-1.5-4-9. Purchase of Bonds or Notes of Bank; Disposition; Bonds or Notes Held Considered Held for Resale or Transfer - Sec. 9. The bank may purchase bonds or notes of...
5-1.5-4-10. Purchase of Securities; Documentation - Sec. 10. Subject to IC 5-1.5-8-2, all securities purchased, held,...
Chapter 5. Reserve Fund
5-1.5-5-1. Establishment; Application of Funds; Required Debt Service Reserve; Excess Money - Sec. 1. (a) The board may establish and maintain a...
5-1.5-5-2. Investment of Funds - Sec. 2. Money in any reserve fund may be invested...
5-1.5-5-3. Valuation of Investments - Sec. 3. For purposes of valuation, investments in the reserve...
5-1.5-5-4. Required Debt Service Reserve; Resolution Concerning Appropriations; Excess Funds; Budget Committee Review; Default - Sec. 4. (a) Except as provided in subsection (c), and...
5-1.5-5-5. Combining Reserve Funds - Sec. 5. Subject to the provisions of any agreement with...
5-1.5-5-6. Certain Qualified Entities; Debt Service Reserve Appropriations Not Available - Sec. 6. The provisions of section 4(a) of this chapter...
Chapter 6. Other Funds and Accounts
5-1.5-6-1. General Fund; Establishment; Use; Creation of Subaccounts or Special Accounts - Sec. 1. (a) The bank shall establish and maintain a...
5-1.5-6-2. Additional Reserves; Other Funds or Accounts - Sec. 2. The board may establish additional reserves or other...
5-1.5-6-3. Money or Investments in Fund or Account Established for Specific Purpose; Application - Sec. 3. Unless the resolution or trust agreement authorizing the...
Chapter 6.5. Capital Funds
5-1.5-6.5-1. Capital Principal Fund and Capital Interest Fund; Programs for Qualified Entities - Sec. 1. (a) The bank shall establish and maintain: (1)...
5-1.5-6.5-2. Investments; Credit of Earnings - Sec. 2. Money in the funds may be invested in...
5-1.5-6.5-3. Capital Principal Fund; Debt Service; Agreement; Recovery - Sec. 3. (a) The capital principal fund may be used...
5-1.5-6.5-4. Required Debt Service Reserves; Budget Committee Review - Sec. 4. (a) Except as provided in subsection (d), whenever...
5-1.5-6.5-5. Capital Interest Fund; Purposes for Use - Sec. 5. With respect to the programs specified in section...
Chapter 7. Default by the Bond Bank
5-1.5-7-1. Achievement of Purpose of Article - Sec. 1. In order to: (1) carry out its purpose...
5-1.5-7-2. Default; Appointment of Trustee to Represent Holders of Notes or Bonds - Sec. 2. If the bank: (1) defaults in the payment...
5-1.5-7-3. Trustees; Duties; Powers; Venue; Notice - Sec. 3. (a) A trustee appointed under section 2 of...
Chapter 8. Loans to Qualified Entities
5-1.5-8-1. Purchase of Securities Offered by Qualified Entity; Private Sale; Issuance of Bonds and Notes for Purpose of Purchase - Sec. 1. The bank, to carry out the purposes and...
5-1.5-8-2. Securities to Be Purchased and Held in Name of Bank; Required Documentation - Sec. 2. (a) All securities at any time purchased, held,...
5-1.5-8-3. Contracts With Bank; Terms and Conditions; Fees and Charges; Denomination and Prices - Sec. 3. (a) Every qualified entity is authorized and empowered...
5-1.5-8-4. Agreement With Bank; Waiver of Statutory Defenses to Nonpayment; Rights and Remedies of Bank - Sec. 4. Upon the sale and delivery by a qualified...
5-1.5-8-5. Department or Agency of State as Custodian of Money Payable to Qualified Entity; Duty on Default on Payment of Principal or Interest by Qualified Entity - Sec. 5. (a) Notwithstanding any other provision of law, to...
5-1.5-8-5.1. Authorization to Convey Revenue or Taxes to Issuing Entity - Sec. 5.1. (a) The following definitions apply throughout this section:...
5-1.5-8-6. Repealed - As added by P.L.25-1984, SEC.1. Repealed by P.L.43-1985, SEC.28.
5-1.5-8-6.1. Anticipation Notes; Issuance and Purchase - Sec. 6.1. (a) Notwithstanding any law applicable to a qualified...
5-1.5-8-7. Investment and Reinvestment; Securities Sold to Bank - Sec. 7. Notwithstanding any statute applicable to or constituting any...
Chapter 9. Miscellaneous Provisions
5-1.5-9-1. Limitation of Actions - Sec. 1. (a) No action to contest the validity of...
5-1.5-9-2. Property of Bank Exempt From Levy and Sale; Judgment Against Bank Not Charge or Lien on Property; Rights of Holders of Bonds or Notes - Sec. 2. All property of the bank is exempt from...
5-1.5-9-3. Repealed - As added by P.L.25-1984, SEC.1; P.L.48-1989, SEC.3. Repealed by P.L.1-1990,...
5-1.5-9-4. Insurance or Guaranty for Payment or Repayment of Interest or Principal, or Both - Sec. 4. The bank may obtain from a department or...
5-1.5-9-5. Authority to Receive Money; Disposition - Sec. 5. The treasurer of the state, as chairman of...
5-1.5-9-6. Financial Institution to Keep and Pay Over Funds Deposited With It - Sec. 6. A financial institution may give to the bank...
5-1.5-9-7. Contracts or Agreements With Financial Institutions; Care, Custody, or Safekeeping of Securities; Services Connected With Payment or Collection of Interest or Principal - Sec. 7. The board may enter into agreements or contracts...
5-1.5-9-8. Financial Institutions and Fiduciaries; Investment in Bonds and Notes - Sec. 8. Notwithstanding the restrictions of any other law, all...
5-1.5-9-9. Nature of Bank Property; Bonds or Notes Issued; Interest and Proceeds Received; Tax Exemption - Sec. 9. All property of the bank is public property...
5-1.5-9-10. Officers, Departments, etc., of the State to Render Services to Bank; Costs and Expenses - Sec. 10. All officers, departments, boards, agencies, divisions, and commissions...
5-1.5-9-11. Pledges of Revenues or Other Money - Sec. 11. A pledge of revenues or other money made...
5-1.5-9-12. Securities; Registration Requirements; Exemption - Sec. 12. All securities issued under this article are exempt...