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 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 […]
5-1.5-7-1. Achievement of Purpose of Article
Sec. 1. In order to: (1) carry out its purpose under this article of making loans to qualified entities by purchase of the securities and by receipt of its income from service charges and from payments of interest on and the maturing principal of securities purchased and held by it; and (2) produce revenues or […]
5-1.5-9-5. Authority to Receive Money; Disposition
Sec. 5. The treasurer of the state, as chairman of the board of the bank, is authorized to receive from the United States of America 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 […]
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 of principal or interest on an issue of notes or bonds after they become due, whether at maturity or upon call for redemption, and the default continues for thirty (30) days; or (2) fails or refuses to comply with this article or defaults in an […]
5-1.5-7-3. Trustees; Duties; Powers; Venue; Notice
Sec. 3. (a) A trustee appointed under section 2 of this chapter shall, in his name, upon written request of the holders of twenty-five percent (25%) in principal amount of the outstanding notes or bonds: (1) by civil action enforce all rights of the holders, including the right to require the bank to: (A) collect […]
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 policies of this article, may purchase securities of the qualified entity, including any securities issued by a school corporation to refund bonds or other obligations that were issued or entered into by a school corporation before that school corporation completed a consolidation or merger under […]
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, or owned by the bank shall at all times be purchased and held in the name of the bank. (b) Except for agreements described in IC 5-1.5-1-10(4), all securities at any time purchased by the bank, upon delivery to the bank, shall, unless waived by […]
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 to contract with the bank with respect to the loan or purchase of its securities, and the contracts shall contain the terms and conditions of the loan or purchase and may be in any form agreed to by the bank and the qualified entity, including […]
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 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 or arising from an agreement with the bank when payable, all statutory defenses […]
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 the extent that any department or agency of the state, including the treasurer of state, is the custodian of money payable to the qualified entity (other than for goods or services provided by the qualified entity), at any time after written notice to the department […]