5-1.5-6.5-4. Required Debt Service Reserves; Budget Committee Review
Sec. 4. (a) Except as provided in subsection (d), whenever a reserve fund for an issue of bonds or notes issued to purchase securities specified in section 1(b) of this chapter does not contain the required debt service reserve (as defined in IC 5-1.5-5-1(b)), the chairman of the board shall immediately: (1) transfer to the […]
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 Repealed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 Repealed by P.L.1-1990, SEC.46.
5-1.5-6.5-5. Capital Interest Fund; Purposes for Use
Sec. 5. With respect to the programs specified in section 1(b) of this chapter, the capital interest fund may be used for the following purposes in addition to the purpose specified in section 4 of this chapter: (1) To guarantee payment of debt service on bonds or notes. (2) To pay premiums for bond insurance […]
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 […]