Sec. 1. (a) The bank shall establish and maintain: (1) a capital principal fund, to be funded from appropriations made to the fund by the general assembly and any other money that the bank transfers to the fund; and (2) a capital interest fund, to be funded from investment earnings on the capital principal fund. […]
Sec. 2. Money in the funds may be invested in the manner provided in IC 5-1.5-3-3. However, all earnings on the funds shall be credited to the capital interest fund. As added by P.L.38-1988, SEC.5.
Sec. 3. (a) The capital principal fund may be used only to guarantee payment of debt service on: (1) securities issued by a qualified entity for a purpose specified in section 1(b) of this chapter; or (2) bonds or notes issued to purchase securities issued for a purpose specified in section 1(b) of this chapter. […]
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 […]
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 […]
