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 […]
5-1.4-4-10. Purchase of Securities; Documentation
Sec. 10. All securities purchased, held, or owned by the bank, upon delivery to the bank, must be accompanied by all documentation required by the board. As added by P.L.42-1985, SEC.1.
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, […]
5-1.4-5-1. Establishment and Maintenance of Reserve Fund; Application of Funds; Required Debt Service Reserve; Excess Money
Sec. 1. (a) The board may establish and maintain a reserve fund for each issue of bonds or notes in which there shall be deposited or transferred: (1) all proceeds of bonds or notes required to be deposited in the fund by terms of a contract between the bank and its holders or a resolution […]
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 […]
5-1.4-5-2. Investment of Funds
Sec. 2. Money in any reserve fund may be invested in the manner provided by IC 5-1.4-3-3. As added by P.L.42-1985, SEC.1. Amended by P.L.29-1986, SEC.15.
5-1.4-9-1. Limitation of Actions
Sec. 1. (a) No action to contest the validity of any bonds or notes of the bank may be brought after the fifteenth day following the adoption of the resolution authorizing the sale of the bonds or notes. No action to contest the validity of any bond sale under this chapter may be brought after […]
5-1.4-5-3. Valuation of Investments
Sec. 3. For purposes of valuation, investments in the reserve fund shall be valued at par or, if purchased at less than par, at cost unless otherwise provided by resolution or trust agreement of the bank. Valuation on a particular date shall include the amount of interest then earned or accrued to that date on […]
5-1.4-5-4. Required Debt Service Reserve; Appropriation to Assure Maintenance; Application of Funds; Excess Money
Sec. 4. (a) In order to assure the maintenance of the required debt service reserve in any reserve fund, the legislative body of the city may annually appropriate to the bank for deposit in one (1) or more of the funds the sum, certified by the chairman of the board to the legislative body, that […]
5-1.4-5-5. Combining Reserve Funds
Sec. 5. Subject to the provisions of any agreement with its holders, the bank may combine the reserve fund established for each issue of bonds or notes into one (1) or more reserve funds. As added by P.L.42-1985, SEC.1. Amended by P.L.29-1986, SEC.17.