Sec. 1. (a) Except as provided in sections 2 and 6 of this chapter, the IFA may, by resolution, issue and sell bonds or notes of the IFA to provide funding to carry out the provisions of this article with respect to the construction of a rail project or rail projects or the refunding of […]
Sec. 10. (a) All bonds or notes issued under this article by the IFA are issued by a body corporate and politic of this state, but not a state agency, and for an essential public and governmental purpose. The bonds and notes, the interest on the bonds and notes, the proceeds received by an owner […]
Sec. 11. Notwithstanding any other law, all financial institutions, investment companies, insurance companies, insurance associations, executors, administrators, guardians, trustees, and other fiduciaries may legally invest sinking funds or other money belonging to them or within their control in bonds or notes issued under this chapter. As added by P.L.189-2018, SEC.26.
Sec. 12. Bonds or notes issued under this chapter are exempt from the registration requirements of IC 23-19 and any other state securities registration statutes. As added by P.L.189-2018, SEC.26.
Sec. 13. A pledge of lease rentals, proceeds of bonds or notes, investment earnings on those proceeds, or other money pledged by the IFA or the NWIRDA is binding from the time the pledge is made. Lease rentals, proceeds of bonds or notes, investment earnings on those proceeds, or other money pledged by the IFA […]
Sec. 14. (a) The IFA may obtain from the NWIRDA or an agency of the state or of the United States, or from 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, or any debt service reserve funds, on […]
Sec. 15. The IFA or the NWIRDA may enter into agreements with an entity to provide credit enhancement or liquidity support for any bonds or notes issued by the IFA or the NWIRDA, or for any debt service reserves securing any bonds or notes, with terms that are reasonable and proper, in the discretion of […]
Sec. 16. The IFA or the NWIRDA may enter into agreements or contracts with any financial institution as may be necessary, desirable, or convenient in the opinion of the IFA or the NWIRDA for rendering services in connection with: (1) the care, custody, or safekeeping of securities or other investments held or owned by the […]
Sec. 17. (a) In the discretion of the IFA or the NWIRDA, any bonds and notes issued under this chapter may be secured by a trust agreement by and between the IFA or the NWIRDA and a corporate trustee, which may be any trust company or bank having the powers of a trust company in […]
Sec. 18. (a) The IFA may purchase bonds or notes of the IFA or the NWIRDA out of its funds or money available for the purchase of its own bonds or notes. The IFA may hold, cancel, or resell the bonds or notes subject to, and in accordance with, agreements with owners of its bonds […]
Sec. 19. Funds or money held by the IFA, the NWIRDA, or the NICTD under any trust agreement or resolution may be invested pending disbursement as provided in the trust agreement or the resolution. Such an investment is not restricted by or subject to the provisions of any other law. As added by P.L.189-2018, SEC.26.
Sec. 2. (a) Before the issuance of bonds or notes, the IFA must: (1) receive the approval of the budget agency; and (2) receive budget committee review of a financial plan if the bonds or notes are payable from lease rental payments to be made from: (A) state appropriations; or (B) money on deposit in […]
Sec. 3. (a) Before issuing a series of bonds or notes, the IFA or the NWIRDA shall publish a notice of its determination to issue the bonds or notes. The notice shall be published one (1) time in two (2) newspapers published and of general circulation in the area where the rail project is located. […]
Sec. 4. (a) The bonds or notes of the IFA: (1) shall be executed by the manual or facsimile signature of the chairperson or vice chairperson of the IFA; (2) shall be attested by the manual or facsimile signature of the public finance director for the IFA; (3) shall be imprinted or impressed with the […]
Sec. 5. The bonds or notes, when issued, have all the qualities of negotiable instruments, subject to provisions for registration, under IC 26 and are incontestable in the hands of a bona fide purchaser or owner of the bonds or notes for value. As added by P.L.189-2018, SEC.26.
Sec. 6. The bonds or notes may be sold by the IFA or the NWIRDA at a public or a negotiated sale at a time or times determined by the IFA or the NWIRDA and at a premium or discount as determined by the IFA or NWIRDA. In determining the amount of bonds or notes […]
Sec. 7. The proceeds of the bonds or notes are appropriated for the purpose for which the bonds or notes may be issued and the proceeds shall be deposited and disbursed in accordance with any provisions and restrictions that the IFA or the NWIRDA may provide in the resolution or trust agreement authorizing the issuance […]
Sec. 8. The bonds or notes: (1) constitute the corporate obligations of the IFA or the NWIRDA; (2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision, prohibition, or limitation; and (3) are payable solely as to both principal and interest from: (A) the revenues from a […]
Sec. 9. The provisions of this article and the covenants and undertakings of the IFA or the NWIRDA as expressed in any proceedings preliminary to or in connection with the issuance of the bonds or notes may be enforced, subject to the provisions of any resolution or trust agreement, by a bond or note owner […]
