§ 5-1.4-3-2 — Additional powers

Indiana § 5-1.4-3-2

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.4: LOCAL PUBLIC IMPROVEMENT BOND BANKS
• Ch. 3: Powers and Duties

Text

The bank may:
(1) make, enter into, and enforce all contracts necessary,
convenient, or desirable for the purposes of the bank or pertaining
to:
(A) a purchase or sale of securities or other investments; or
(B) the performance of its duties and execution of any of its
powers under this article;
(2) purchase or hold securities at prices and in a manner the bank
considers advisable and sell securities acquired or held by it at
prices without relation to cost and in a manner the bank considers
advisable;
(3) prescribe the form of application or procedure required of a
qualified entity for a purchase of its securities, fix the terms and
conditions of the purchase, and enter into agreements with
qualified entities with respect to purchases;
(4) render services to a qualified entity in connection with a
public or private sale of its securities, including advisory and
other services, and charge for services rendered;
(5) charge for its costs and services in review or consideration of
a proposed purchase by the bank of securities, whether the
securities are purchased;
(6) fix and establish terms and provisions with respect to:
(A) a purchase of securities by the bank, including date and
maturities of the securities;
(B) redemption or payment before maturity; and
(C) any other matters that in connection with the purchase are
necessary, desirable, or advisable in the judgment of the bank;
(7) to the extent permitted under its contracts with the holders of
bonds or notes of the bank, consent to modification of the rate of
interest, time for payment of any installment of principal or
interest, security, or any other term of a bond or note, contract, or
agreement of any kind to which the bank is a party; and
(8) appoint and employ general or special counsel, accountants,
financial advisors or experts, and all such other or different
officers, agents, and employees as it requires and determine their
qualifications, duties, and compensation, all in order to effectuate
the purposes of this article.

Legislative History

As added by P.L.42-1985, SEC.1.