§ 5-1.5-8-1 — Purchase of securities offered by qualified entity; private sale; issuance of bonds and notes for purpose of purchase

Indiana § 5-1.5-8-1

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.5: INDIANA BOND BANK
• Ch. 8: Loans to Qualified Entities

Text

The bank, to carry out the purposes and policies
of this article, may purchase securities of the qualified entity, including
any securities issued by a school corporation to refund bonds or other
obligations that were issued or entered into by a school corporation
before that school corporation completed a consolidation or merger
under IC 20-23 or any other law. Notwithstanding any law to the
contrary, a qualified entity may sell its securities to the bank at a
negotiated, private sale. The bank, for this purpose, may issue its bonds
and notes payable solely from the revenues or funds available to the
bank for such payment and may otherwise assist qualified entities as
provided in this article.

Legislative History

As added by P.L.25-1984, SEC.1. Amended by P.L.28-1992, SEC.3; P.L.140-2014, SEC.1.