Indiana § 5-13-9.3-4 Establishment of separate fund; investment powers; agreement with
investment advisor; expenditure or transfer of money in the fund

Indiana Statutes

§ 5-13-9.3-4 — Establishment of separate fund; investment powers; agreement with investment advisor; expenditure or transfer of money in the fund

Indiana § 5-13-9.3-4

Title 5STATE AND LOCAL ADMINISTRATION

Art. 13INVESTMENT OF PUBLIC FUNDS

Ch. 9.3Investment of Proceeds Received From the Sale of

This text of Indiana § 5-13-9.3-4 (Establishment of separate fund; investment powers; agreement with investment advisor; expenditure or transfer of money in the fund) 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 § 5-13-9.3-4 (2026).

Text

(a)Except as provided in subsection (d), if the fiscal body of a political subdivision adopts an ordinance or a resolution under section 3 of this chapter for a particular capital asset, the fiscal officer of the political subdivision shall establish a separate fund into which some or all of the proceeds from the sale of the capital asset shall be deposited. All interest and other income earned on investments of money in the fund shall be deposited in the fund. The ordinance or resolution under section 3 of this chapter must require that the investing officer of the political subdivision shall contract with a registered investment advisor concerning the investment of the proceeds in the fund with the expanded investment authority granted to the political subdivision under this section. (b

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(a) Except as provided in subsection (d), if the
fiscal body of a political subdivision adopts an ordinance or a
resolution under section 3 of this chapter for a particular capital asset,
the fiscal officer of the political subdivision shall establish a separate
fund into which some or all of the proceeds from the sale of the capital
asset shall be deposited. All interest and other income earned on
investments of money in the fund shall be deposited in the fund. The
ordinance or resolution under section 3 of this chapter must require that
the investing officer of the political subdivision shall contract with a
registered investment advisor concerning the investment of the
proceeds in the fund with the expanded investment authority granted
to the political subdivision under this section.
(b) Notwithstanding this article or any other law, the investing
officer of the political subdivision may invest money in the fund in the
same manner as money in the next generation trust fund may be
invested under IC 8-14-15.2-9(b). A political subdivision shall enter
into an agreement with a registered investment advisor to provide
advice regarding investment of money in the fund. The political
subdivision shall, with the advice of the registered investment advisor,
enter into agreements with investment managers for the investment of
the funds. These agreements:
(1) must be a fee-for-service agreement; and
(2) may not provide that the compensation of the investment
management professionals or investment advisors is determined
in whole or in part by the amount or percentage of the investment
income earned on money in the fund.
(c) Money in the fund may not be expended or transferred from the
fund, except as provided in this chapter.
(d) This subsection applies only to a town that receives proceeds
from the sale of a capital asset under section 3(b)(1)(B) of this chapter.
The fiscal body of a town that receives proceeds from the sale of a
capital asset described in section 3(b)(1)(B) of this chapter shall
contract with a financial institution eligible to receive public funds of
a political subdivision under IC 5-13-8-1 to assist the fiscal body in its
investment program.