Indiana § 5-1.2-15-6 Financial assistance agreement

Indiana Statutes

§ 5-1.2-15-6 — Financial assistance agreement

Indiana § 5-1.2-15-6

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.2INDIANA FINANCE AUTHORITY

Ch. 15Local Transportation Infrastructure Program

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Bluebook

Ind. Code § 5-1.2-15-6 (2026).

Text

(a)If the authority finds that the local transportation infrastructure project:

(1)will be of benefit to the health, safety, morals, and general welfare of the area where the local transportation infrastructure project is to be located; and

(2)complies with the purposes and provisions of this chapter; the authority may by resolution approve the proposed financial assistance agreement.

(b)A financial assistance agreement approved under this section in connection with bonds must provide for payments in an amount sufficient to pay the principal of, premium on (if any), and interest on the bonds issued for the financing of the local transportation infrastructure project. Interest payments for the anticipated construction period, plus a period of not more than one (1) year, may be funded in

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(a) If the authority finds that the local
transportation infrastructure project:
(1) will be of benefit to the health, safety, morals, and general
welfare of the area where the local transportation infrastructure
project is to be located; and
(2) complies with the purposes and provisions of this chapter;
the authority may by resolution approve the proposed financial
assistance agreement.
(b) A financial assistance agreement approved under this section in
connection with bonds must provide for payments in an amount
sufficient to pay the principal of, premium on (if any), and interest on
the bonds issued for the financing of the local transportation
infrastructure project. Interest payments for the anticipated
construction period, plus a period of not more than one (1) year, may
be funded in the bond issue. The term of a financial assistance
agreement may not exceed twenty (20) years from the date of any
bonds issued under the financial assistance agreement. However, a
financial assistance agreement does not terminate after twenty (20)
years if a default under that financial assistance agreement remains
uncured, unless the termination is authorized by the terms of the
financial assistance agreement.
(c) The authority may do any of the following:
(1) Establish eligibility standards for a participant and local
transportation infrastructure projects, without complying with IC 4-22-2. However, these standards have the force of law if the
standards are adopted after a public hearing for which notice has
been given by publication under IC 5-3-1.
(2) Contract with any entity securing, in whole or in part, the
payment of bonds issued under this chapter and authorizing the
entity to approve the participant that can finance or refinance
local transportation infrastructure projects with proceeds from the
bond issue secured by that entity.
(3) Finance for participants in connection with their local
transportation infrastructure projects:
(A) the cost of their local transportation infrastructure projects,
including costs of planning, designing, feasibility studies,
construction, expansion, renovation, or improvement;
(B) capitalized interest for the anticipated construction period
plus one (1) year; and
(C) in the case of a program funded from the proceeds of
taxable bonds or sources other than tax exempt bonds, working
capital associated with the operation of such local
transportation infrastructure projects;
in amounts determined to be appropriate by the authority.
(d) The authority may provide financial assistance to participants in
the form of forgiveness of principal of a loan.