Indiana § 5-19-1.5-3 Maximum amounts; prepayment upon receipt of grants

Indiana Statutes

§ 5-19-1.5-3 — Maximum amounts; prepayment upon receipt of grants

Indiana § 5-19-1.5-3

Title 5STATE AND LOCAL ADMINISTRATION

Art. 19FEDERAL AID

Ch. 1.5Grant Anticipation Notes

This text of Indiana § 5-19-1.5-3 (Maximum amounts; prepayment upon receipt of grants) 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 § 5-19-1.5-3 (2026).

Text

The maximum amount of any loan made
pursuant to this chapter shall not exceed eighty percent (80%) of the
estimated amount of the grant in anticipation of which the loan is made.
Further, the borrower shall make prepayments on the outstanding
balance of its note, or retire one (1) or more of its series of outstanding
notes, promptly upon partial receipt of grant funds so that the
outstanding amount of any loan made pursuant to the provisions of this
chapter shall not exceed the balance of the grant funds yet to be
received.
As added by Acts 1981, P.L.61, SEC.1.

Free access — add to your briefcase to read the full text and ask questions with AI

The maximum amount of any loan made
pursuant to this chapter shall not exceed eighty percent (80%) of the
estimated amount of the grant in anticipation of which the loan is made.
Further, the borrower shall make prepayments on the outstanding
balance of its note, or retire one (1) or more of its series of outstanding
notes, promptly upon partial receipt of grant funds so that the
outstanding amount of any loan made pursuant to the provisions of this
chapter shall not exceed the balance of the grant funds yet to be
received.
As added by Acts 1981, P.L.61, SEC.1.