§ 5-1.2-4-36 — State debt management plan; established by the authority

Indiana § 5-1.2-4-36

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.2: INDIANA FINANCE AUTHORITY
• Ch. 4: General Powers and Duties

Text

The authority, after consulting with the
treasurer of state, the Indiana bond bank, the budget agency, and the
commission for higher education, shall establish and periodically
update a state debt management plan. The plan must include at least
the following provisions with respect to debt issued or to be issued by
the authority, other bodies corporate and politic of the state, and state
educational institutions:
(1) An inventory of existing debt.
(2) Projections of future debt obligations.
(3) Recommended criteria for the appropriate use of debt as a
means to finance capital projects.
(4) Recommended strategies to minimize costs associated with
debt issuance.
(5) An analysis of the impact of debt issued by all bodies
corporate and politic and state educational institutions on the state
budget.
(6) Recommended guidelines for the prudent issuance of debt that
creates a moral obligation of the state to pay all or part of the
debt.
(7) Recommended policies for the investment of:
(A) proceeds of bonds, notes, or other obligations issued by
bodies corporate and politic and state educational institutions;
and
(B) other money, funds, and accounts owned or held by a body
corporate and politic.
(8) Recommended policies for the establishment of a system of
record keeping and reporting to meet the arbitrage rebate
compliance requirements of the Internal Revenue Code.
(9) Recommended policies for the preparation of financial
disclosure documents, including official statements
accompanying debt issues, comprehensive annual financial
reports, and continuing disclosure statements. The recommended
policies must include a provision for approval by the budget
director of any statements or reports that include a discussion of
the state's economic and fiscal condition.
(10) Potential opportunities to more effectively and efficiently
authorize and manage debt.
(11) Recommendations to the budget director, the governor, and
the general assembly with respect to financing of capital projects.
The recommendations to the general assembly under subdivision (11)
must be in an electronic format under IC 5-14-6.

Legislative History

As added by P.L.189-2018, SEC.25.