Indiana § 5-1.2-14.5-3 Water infrastructure grant fund

Indiana Statutes

§ 5-1.2-14.5-3 — Water infrastructure grant fund

Indiana § 5-1.2-14.5-3

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.2INDIANA FINANCE AUTHORITY

Ch. 14.5Water Infrastructure Grant Program

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Bluebook

Ind. Code § 5-1.2-14.5-3 (2026).

Text

(a)The water infrastructure grant fund is established as a source of money for grants, loans, and other financial assistance to, or for the benefit of, participants in the program.

(b)The fund shall be administered, held, and managed by the authority.

(c)The authority shall invest or cause to be invested all or a part of the fund, pursuant to the authority's investment policy, in a fiduciary account or accounts with a trustee that is a financial institution. Notwithstanding any other law, any investment under this subsection may be made by the trustee in accordance with one (1) or more trust agreements or indentures. A trust agreement or indenture referred to in this subsection may permit disbursements by the trustee to the authority, the department, the budget agency, a participant, or

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(a) The water infrastructure grant fund is
established as a source of money for grants, loans, and other financial
assistance to, or for the benefit of, participants in the program.
(b) The fund shall be administered, held, and managed by the
authority.
(c) The authority shall invest or cause to be invested all or a part of
the fund, pursuant to the authority's investment policy, in a fiduciary
account or accounts with a trustee that is a financial institution.
Notwithstanding any other law, any investment under this subsection
may be made by the trustee in accordance with one (1) or more trust
agreements or indentures. A trust agreement or indenture referred to in
this subsection may permit disbursements by the trustee to the
authority, the department, the budget agency, a participant, or any other
person as provided in the trust agreement or indenture.
(d) The fund consists of the following:
(1) Fees and other amounts received by the state, paid by the
treasurer of state to the authority upon warrants issued by the state
comptroller, and deposited in the fund.
(2) Appropriations to the fund from the general assembly.
(3) Grants and gifts of money to the fund.
(4) Proceeds of the sale of gifts to the fund.
(5) Repayments of loans and other financial assistance from the
fund.
(e) Fees and other amounts received by the state pursuant to law
concerning the funding of the water infrastructure grant fund shall be
paid by the treasurer of state to the authority upon the authority's
request with warrants issued by the state comptroller and deposited in
the fund.
(f) The expenses of administering the fund shall be paid from money
in the fund.
(g) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.
(h) All:
(1) money accruing to the fund; and
(2) money allotted to the state under federal law for the purposes
of the fund;
is continuously appropriated for the purposes specified in this chapter.