5-1.4-8-1. Purchase of Securities Offered by Qualified Entity; Private Sale; Issuance of Bonds or Notes for Purpose of Purchase
Sec. 1. The bank, to carry out the purposes and policies of this article, may purchase securities offered by a qualified entity. Notwithstanding any law to the contrary, a qualified entity may sell its securities to the bank at a negotiated, private sale. The bank, for this purpose, may issue its bonds and notes payable […]
5-1.4-8-2. Securities to Be Purchased and Held in Name of Bank; Required Documentation
Sec. 2. (a) All securities at any time purchased, held, or owned by the bank shall at all times be purchased and held in the name of the bank. (b) All securities at any time purchased by the bank, upon delivery to the bank, shall be accompanied by all documentation required by the board. The […]
5-1.4-8-3. Contracts With Bank for Purchase of Securities; Terms and Conditions; Fees and Charges; Denomination; Prices; Private Sale
Sec. 3. Every qualified entity is authorized and empowered to contract with the bank with respect to the purchase of its securities, and the contracts shall contain the terms and conditions of the purchase and may be in any form agreed to by the bank and the qualified entity, including a customary form of bond […]
5-1.4-8-4. Agreement With Bank; Waiver of Statutory Defenses to Nonpayment; Rights and Remedies of Bank
Sec. 4. Upon the sale and delivery by a qualified entity of any securities to the bank, the qualified entity shall be deemed to have agreed that upon its failure to pay interest or principal on the securities owned or held by the bank when payable, all statutory defenses to nonpayment are waived. Upon nonpayment […]
5-1.4-8-5. Bond Anticipation Notes of Qualified Entities; Purchase by Bank; Renewal or Extension; Maturity; Terms and Conditions
Sec. 5. (a) Notwithstanding any law applicable to a qualified entity concerning the issuance of bonds, a qualified entity that has complied with all statutory requirements for the issuance of its bonds may (in lieu of issuing bonds at that time and without complying with any other law applicable to the issuance of bonds, notes, […]
5-1.4-8-6. Notes of Qualified Entities; Purchase by Bank; Renewal or Extension; Maturity; Compliance With Other Laws; Terms and Conditions
Sec. 6. (a) Notwithstanding any other law applicable to a qualified entity as to borrowing money, a qualified entity may issue and sell its notes to the bank, and the bank may purchase these notes. The notes must be issued pursuant to a resolution of the qualified entity, and the proceeds must be applied to […]