§ 5-1.2-4-5 — Requirements; establishment of terms governing reserves or funding levels

Indiana § 5-1.2-4-5

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

Text

(a) This section does not apply to any
indebtedness issued by the authority if:
(1) the proceeds will be used for a project that has been
specifically authorized by the general assembly; or
(2) the indebtedness is authorized under the referenced statutes.
(b) Notwithstanding any other law in effect before:
(1) the authority issues indebtedness that establishes a procedure
for the authority or a person acting on behalf of the authority to
certify to the general assembly the amount needed to restore a
debt service reserve fund or another fund to a required level; or
(2) execution by the authority of any other agreement that creates
a moral obligation of the state to pay all or any part of any
indebtedness issued by the authority;
the authority is subject to, and shall comply with, to the extent
practicable, the requirements set forth in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h) as if the authority were specifically named in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h).
(c) In addition:
(1) indebtedness described in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h) is considered a reference to an indebtedness or
agreement referred to in this section; and
(2) a qualified entity referred to in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h) is considered a reference to a borrower of any
indebtedness and to any other parties referred to in this section.

Legislative History

As added by P.L.189-2018, SEC.25. Amended by P.L.259-2019, SEC.1.