5-1.4-9-9. Nature of Bank Property; Bonds and Notes; Exemption From Taxation
Sec. 9. All property of the bank is public property devoted to an essential public and governmental function and purpose and is exempt from all taxes and special assessments of the state or a political subdivision of the state. All bonds or notes issued under this article are issued by a body corporate and public […]
5-1.4-9-10. Officers and Departments of State; Rendering of Services to Bank; Costs and Expenses
Sec. 10. All officers, departments, boards, agencies, divisions, and commissions of the city shall render services to the bank that are within the area of their respective governmental functions and that may be requested by the board and must comply promptly with any reasonable request by the board relating to the making of a study […]
5-1.4-9-11. Dissolution of Bank; Assets and Property of Bank
Sec. 11. Upon the dissolution of the bank, all interest in the assets and property of the bank reverts to the city. As added by P.L.42-1985, SEC.1.
5-1.4-9-2. Bank Property 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 levy and sale by virtue of an execution and no execution or other judicial process may issue against the property. A judgment against the bank may not be a charge or lien upon its property. However, nothing in this section applies to or limits the […]
5-1.4-9-3. Pledge of Revenues or Money
Sec. 3. A pledge of revenues or other money made by the bank is binding from the time the pledge is made. Revenues or other money pledged and thereafter received by the bank are immediately subject to the lien of the pledge without any further act, and the lien of a pledge is binding against […]
5-1.4-9-4. Insurance or Guaranty for Payment
Sec. 4. The bank may obtain from a department or agency of the United States or a nongovernmental insurer available insurance or guaranty for the payment or repayment of interest or principal, or both, or any part of interest or principal, on bonds or notes issued by the bank or on securities purchased or held […]
5-1.4-9-5. Authority to Receive Appropriations or Grants From Federal Government; Disposition
Sec. 5. The chairman of the board of the bank is authorized to receive from the United States or any department or agency thereof any amount of money as and when appropriated, allocated, granted, turned over, or in any way provided for the purposes of the bank or this article. Those amounts shall, unless otherwise […]
5-1.4-9-6. Undertaking by Financial Institution to Keep and Pay Over Funds Deposited With It
Sec. 6. (a) A financial institution may give to the bank a good and sufficient undertaking, with such sureties as are approved by the bank, to the effect that the financial institution shall faithfully keep and pay over to the order of or upon the warrant of the bank or its authorized agent all those […]
5-1.4-9-7. Agreements With Financial Institutions; Care and Custody of Securities or Other Investments
Sec. 7. The board may enter into agreements or contracts with a financial institution inside or outside the state as may be necessary, desirable, or convenient in the opinion of the board for rendering services in connection with the care, custody, or safekeeping of securities or other investments held or owned by the bank, for […]
5-1.4-9-8. Financial Institutions and Fiduciaries; Investment in Bonds or Notes
Sec. 8. Notwithstanding the restrictions of any other law, all financial institutions, investment companies, insurance companies, insurance associations, executors, administrators, guardians, trustees, and other fiduciaries may legally invest sinking funds, money, or other funds belonging to them or within their control in bonds or notes issued under this article. As added by P.L.42-1985, SEC.1.