5-1.2-15-1. Request

Sec. 1. At the request of the Indiana department of transportation, the authority shall carry out this chapter. As added by P.L.189-2018, SEC.25.

5-1.2-15-10. Loans or Other Financial Assistance; Necessary Documents

Sec. 10. A loan or other financial assistance from the fund must be accompanied by the following: (1) All papers and opinions required by the authority. (2) Unless otherwise provided by the guidelines of the authority, the following: (A) An approving opinion of nationally recognized bond counsel. (B) A certification and guarantee of signatures. (C) […]

5-1.2-15-11. Expenses

Sec. 11. The expenses of administering a fund shall be paid from money in that fund. As added by P.L.189-2018, SEC.25.

5-1.2-15-12. Investment

Sec. 12. The authority may invest money in funds as provided in IC 5-1.2-4-1(a)(17) and IC 5-1.2-4-1(a)(40). As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.26.

5-1.2-15-13. Reversion

Sec. 13. Money in any fund at the end of a state fiscal year does not revert to the state general fund. As added by P.L.189-2018, SEC.25.

5-1.2-15-14. Other Statutes

Sec. 14. The following apply to bonds issued under this chapter for local transportation infrastructure projects: (1) IC 5-1.2-1-2. (2) IC 5-1.2-4-7 through IC 5-1.2-4-16. (3) IC 5-1.2-4-19 through IC 5-1.2-4-20. (4) IC 5-1.2-4-23. (5) IC 5-1.2-4-24. (6) IC 5-1.2-4-26 through IC 5-1.2-4-29. As added by P.L.189-2018, SEC.25.

5-1.2-15-15. Compensation

Sec. 15. The authority may fix and pay the compensation of persons employed for purposes of this chapter from money: (1) available in a fund; or (2) otherwise made available for the program. As added by P.L.189-2018, SEC.25.

5-1.2-15-16. Fees

Sec. 16. A participant may pay fees charged by the authority to carry out this chapter. As added by P.L.189-2018, SEC.25.

5-1.2-15-2. Funds

Sec. 2. The authority may establish local transportation infrastructure revolving funds for the purpose of providing funds to participants for local transportation infrastructure projects. A separate fund may be established for any purpose listed in section 8(a) of this chapter. Each fund shall be administered by the authority. As added by P.L.189-2018, SEC.25.

5-1.2-15-3. Fund Administration

Sec. 3. (a) In administering a fund, the authority shall do the following: (1) Monitor applicable infrastructure finance needs and the availability and cost of capital. (2) Provide financial management of investment pools and financial services associated with loans. (3) Explore and evaluate capital financing techniques. (4) Explore methods for the state to enhance the […]

5-1.2-15-4. Powers

Sec. 4. Subject to the written procedures developed by the authority under section 7 of this chapter, the authority may do the following: (1) Accept money from any agency, department, or instrumentality of the United States, the state, or another state for deposit in a fund. (2) Issue bonds and deposit proceeds in a fund. […]

5-1.2-15-5. Default; Withholding of Distributions

Sec. 5. (a) If the authority uses bond proceeds to loan money to or purchase bonds of a participant, the authority may, by the resolution approving the bonds, provide that subsection (b) is applicable to the participant. (b) Notwithstanding any other law, to the extent that any department or agency of the state, including the […]

5-1.2-15-6. Financial Assistance Agreement

Sec. 6. (a) If the authority finds that the local transportation infrastructure project: (1) will be of benefit to the health, safety, morals, and general welfare of the area where the local transportation infrastructure project is to be located; and (2) complies with the purposes and provisions of this chapter; the authority may by resolution […]

5-1.2-15-7. Allocation of Money to Projects; Procedure

Sec. 7. (a) The authority shall establish a written procedure, in coordination with a state agency, department, or instrumentality providing funds under section 4(1) of this chapter and for allocating money to projects described in section 8 of this chapter. (b) The procedure established under this section must include at least the following: (1) An […]

5-1.2-15-8. Loans or Other Financial Assistance; Uses; Condition

Sec. 8. (a) A loan of proceeds of the authority’s bonds or a loan or other financial assistance from a fund must be used by a participant to establish or improve highways, roads, streets, bridges, or any other public way, and public mass transportation systems. (b) Financial assistance from the fund must be made in […]

5-1.2-15-9. Loans or Other Financial Assistance; Interest Rates

Sec. 9. (a) A loan from a fund may: (1) not have a term of more than twenty (20) years; (2) provide for amortization to begin not later than one (1) year after construction of the project ends; and (3) have an interest rate established by the authority in accordance with subsection (c). (b) Unless […]