Indiana § 5-13-11-2 Requirements of investment contracts; awarding of contracts

Indiana Statutes

§ 5-13-11-2 — Requirements of investment contracts; awarding of contracts

Indiana § 5-13-11-2

Title 5STATE AND LOCAL ADMINISTRATION

Art. 13INVESTMENT OF PUBLIC FUNDS

Ch. 11Investment Cash Management System

This text of Indiana § 5-13-11-2 (Requirements of investment contracts; awarding of contracts) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-13-11-2 (2026).

Text

(a)The contract must:

(1)be in writing;

(2)provide for the investment of funds by the depository with the approval of the investing officer;

(3)provide that the depository keep those records concerning the investment cash management system that the political subdivision would maintain for audits by the state board of accounts;

(4)provide that investments will be made in accordance with this article;

(5)provide that the depository may invest funds in the same investments and for the same terms as the treasurer of state may invest funds of the state under this article;

(6)not have a term of more than two (2) years; and

(7)be awarded under the bidding provisions of IC 5-22.

(b)If no designated depository whose principal office or branch is located within the political subdivision wil

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(a) The contract must:
(1) be in writing;
(2) provide for the investment of funds by the depository with the
approval of the investing officer;
(3) provide that the depository keep those records concerning the
investment cash management system that the political subdivision
would maintain for audits by the state board of accounts;
(4) provide that investments will be made in accordance with this
article;
(5) provide that the depository may invest funds in the same
investments and for the same terms as the treasurer of state may
invest funds of the state under this article;
(6) not have a term of more than two (2) years; and
(7) be awarded under the bidding provisions of IC 5-22.
(b) If no designated depository whose principal office or branch is
located within the political subdivision will provide an investment cash
management service permitted in this chapter, then the contract for an
investment cash management service must be awarded as provided in
IC 5-13-8-9(c). If the investment cash management service contract is
awarded to a financial institution whose principal office or branch is
located outside the political subdivision, then the recipient of the
contract does not constitute a designated depository of the political
subdivision for purposes of investment under IC 5-13-9-3 unless it
meets the limitations of IC 5-13-9-4 or IC 5-13-9-5, but does constitute
a depository under this article for all other purposes.