Sec. 1. (a) The board may establish and maintain a reserve fund for each issue of bonds or notes in which there shall be deposited or transferred: (1) all money appropriated by the general assembly for the purpose of the fund in accordance with section 4(a) of this chapter; (2) all proceeds of bonds or […]
Sec. 2. Money in any reserve fund may be invested in the manner provided in IC 5-1.5-3-3. As added by P.L.25-1984, SEC.1. Amended by P.L.43-1985, SEC.19.
Sec. 3. For purposes of valuation, investments in the reserve fund shall be valued at par, or if purchased at less than par, at cost unless otherwise provided by resolution or trust agreement of the bank. Valuation on a particular date shall include the amount of interest then earned or accrued to that date on […]
Sec. 4. (a) Except as provided in subsection (c), and in order to assure the maintenance of the required debt service reserve in any reserve fund, a resolution authorizing the bank to issue bonds or notes may include a provision stating that: (1) the general assembly may annually appropriate to the bank for deposit in […]
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.
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.
