§ 5-1.5-6.5-5 — Capital interest fund; purposes for use

Indiana § 5-1.5-6.5-5

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.5: INDIANA BOND BANK
• Ch. 6.5: Capital Funds

Text

With respect to the programs specified in
section 1(b) of this chapter, the capital interest fund may be used for
the following purposes in addition to the purpose specified in section
4 of this chapter:
(1) To guarantee payment of debt service on bonds or notes.
(2) To pay premiums for bond insurance or debt service reserve
insurance for bonds or notes.
(3) To pay credit enhancement, liquidity support, remarketing, or
conversion fees for bonds or notes.
(4) To pay other costs of issuance of a bank transaction.

Legislative History

As added by P.L.38-1988, SEC.5.