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 […]
5-1.5-5-5. Combining Reserve Funds
Sec. 5. Subject to the provisions of any agreement with its holders, the bank may combine a reserve fund established for an issue of bonds or notes into one (1) or more reserve funds. As added by P.L.25-1984, SEC.1. Amended by P.L.43-1985, SEC.22.
5-1.5-5-6. Certain Qualified Entities; Debt Service Reserve Appropriations Not Available
Sec. 6. The provisions of section 4(a) of this chapter are not available to any bonds or notes issued by the bank to purchase securities of, or fund loans to, any qualified entity described in IC 5-1.5-1-8(5) or IC 5-1.5-1-8(6). As added by P.L.37-1991, SEC.4.
5-1.5-6-1. General Fund; Establishment; Use; Creation of Subaccounts or Special Accounts
Sec. 1. (a) The bank shall establish and maintain a fund called the general fund into which there shall be deposited all money received by the bank and any money that the bank shall transfer to the fund from any reserve fund under IC 5-1.5-5-1(c). Money in the general fund shall be used for operating […]