§ 5-1.2-8-8 — Loans and bonds

Indiana § 5-1.2-8-8

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.2: INDIANA FINANCE AUTHORITY
• Ch. 8: Educational Facility Financing

Text

(a) The authority may make loans to a nonprofit
college or university to refund outstanding obligations or advances
issued, made, or given by the nonprofit college or university for the
cost of an educational facility project, including the establishment of
liability or other loss insurance reserves or the contribution of those
reserves to a risk retention group to provide insurance coverage against
liability claims or other losses.
(b) The authority may issue bonds and make loans to a nonprofit
college or university to refinance indebtedness incurred or to reimburse
advances made for educational facility projects undertaken before the
date of the bond issue whenever the authority finds that the financing
is in the public interest and:
(1) alleviates a financial hardship upon the nonprofit college or
university;
(2) results in a lesser cost of education; or
(3) enables the nonprofit college or university to offer greater
security for a loan or loans to finance a new educational facility
project or educational facility projects or to effect savings in
interest costs or more favorable amortization terms.

Legislative History

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