§ 5-1.5-3-2 — Duties

Indiana § 5-1.5-3-2

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.5: INDIANA BOND BANK
• 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 loan to or a lease or an agreement with a qualified entity;
(B) a purchase, acquisition, or sale of securities or other
investments; or
(C) the performance of its duties and execution of any of its
powers under this article;
(2) purchase, acquire, or hold securities or other investments for
the bank's own account or for a qualified entity at prices and in a
manner the bank considers advisable, and sell or otherwise
dispose of those securities or investments 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 loan or purchase of its securities, fix the
terms and conditions of the loan or purchase, and enter into
agreements with qualified entities with respect to loans or
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 loan to a qualified entity or purchase by the bank of
securities, whether the loan is made or the securities 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, and payment of 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;
(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;
(9) in connection with the purchase of any securities, consider the
need, desirability, or eligibility of the securities, the ability of the
qualified entity to secure financing from other sources and the
costs thereof, and the particular public improvement or purpose
to be financed or refinanced with the proceeds of the securities to
be purchased by the bank; and
(10) acquire, hold, and lease or sell property to a qualified entity.
The lease or sale under this subdivision may be made under a
financing lease, lease with option to purchase, conditional sales
contract, or any other form of agreement, upon the terms and
conditions that the board considers advisable in order to promote
the purpose of this article.
The bank shall not be considered to have engaged in any acts
prohibited by this chapter in performing any duty or exercising any
power described in this section.

Legislative History

As added by P.L.25-1984, SEC.1. Amended by P.L.43-1985, SEC.7; P.L.46-1987, SEC.7; P.L.29-1992, SEC.1.