(a)The authority may issue, sell, and deliver its
bonds, in accordance with IC 5-1.2-4 and this chapter, for the purpose
of paying for or making loans to participating providers for the
financing, reimbursing, or refinancing of all or any part of the cost of
health facility property, to finance the acquisition of health facility
property for lease or sale to participating providers, and any other
purposes authorized by this chapter.
(b)The authority may provide for the issuance of bonds of the
authority for the purpose of refunding any bonds of the authority then
outstanding, including the payment of any redemption premium on
these bonds and any interest accrued or to accrue to the earliest or any
subsequent date of redemption, purchase or maturity of these bonds,
and, if considered advi
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(a) The authority may issue, sell, and deliver its
bonds, in accordance with IC 5-1.2-4 and this chapter, for the purpose
of paying for or making loans to participating providers for the
financing, reimbursing, or refinancing of all or any part of the cost of
health facility property, to finance the acquisition of health facility
property for lease or sale to participating providers, and any other
purposes authorized by this chapter.
(b) The authority may provide for the issuance of bonds of the
authority for the purpose of refunding any bonds of the authority then
outstanding, including the payment of any redemption premium on
these bonds and any interest accrued or to accrue to the earliest or any
subsequent date of redemption, purchase or maturity of these bonds,
and, if considered advisable by the authority, for the additional purpose
of paying all or any part of the cost of health facility property.
(c) The proceeds of any bonds issued for the purpose of refunding
outstanding bonds may, in the discretion of the authority, be applied to
the purchase or retirement at maturity or redemption of the outstanding
bonds either on their earliest or any subsequent redemption date or
upon the purchase or at the maturity of the bonds and may, pending
such an application, be placed in escrow to be applied to the purchase
or retirement at maturity or redemption on the date as may be
determined by the authority. Subject to the provisions of any trust
indenture to the contrary, any of the escrowed proceeds, pending such
a use, may be invested and reinvested in obligations as are determined
by the authority to assure the prompt payment of the principal and
interest and redemption premium, if any, on the outstanding bonds to
be so refunded. The interest, income, and profits, if any, earned or
realized on such an investment may also be applied to the payment of
the outstanding bonds to be so refunded. Only after the terms of the
escrow have been fully satisfied and carried out, any balance of the
proceeds and interest, income, and profits, if any, earned or realized on
the investments shall be returned to the authority or the participating
providers for use by them in any lawful manner. All the bonds are
subject to this chapter in the same manner and to the same extent as
other bonds issued under this chapter.
(d) The proceeds of the bonds (other than refunding bonds) of each
issue shall be used for the payment of all or part of the cost of, or for
the making of a loan in the amount of all or part of the cost of, the
health facility property for which the bonds have been authorized and,
at the option of the authority, for the deposit to a reserve fund or
reserve funds for the bonds. However, the authority may be paid, out
of money from the proceeds of the sale and delivery of its bonds issued
in accordance with this chapter, all of the authority's out-of-pocket
expenses and costs in connection with the issuance, sale, and delivery
of the bonds, and the costs of obtaining insurance, guarantees, and
letters of credit securing payment of the bonds and the lease and the
loan and installment purchase payments, plus an amount equal to the
compensation paid to any employees of the authority for the time those
employees have spent on activities relating to the issuance, sale, and
delivery of the bonds. Bond proceeds shall be disbursed in the manner
and under the restrictions determined by the authority.