Indiana Statutes
§ 15-13-10-6 — Investment and use of funds
(a)All money received under this chapter
must be held and applied solely as provided in this chapter. Until the
time the money is needed for use, the money may be invested or kept
in depositories designated by the commission in the manner provided
by IC 5-13.
(b)The resolution authorizing the issuance of bonds or the trust
agreement securing the bonds must provide that any officer or any bank
or trust company entrusted with money under this chapter shall:
(1)act as trustee of the money; and
(2)hold and apply the money for the purposes of this chapter,
under this chapter and the authorizing resolution or trust
agreement.
[Pre-2008 Recodification Citation: 15-1.5-9-5.]
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Legislative History
As added by P.L.2-2008, SEC.4.
Nearby Sections
15
§ 15-10-1-1
"Prior law"§ 15-10-1-2
Purpose of recodification§ 15-10-1-3
Statutory construction of recodification§ 15-10-1-4
Effect of recodification§ 15-10-1-5
Recodification of prior law§ 15-10-1-6
References to repealed statutes§ 15-10-1-7
References to citations§ 15-10-1-8
References to prior rules§ 15-10-1-9
References to prior law§ 15-11-1-1
Application of definitions§ 15-11-1-2
"Department"§ 15-11-1-3
"Director"§ 15-11-1-4
"Division"§ 15-11-1-5
"Secretary"§ 15-11-12-1
"Commission"