Indiana Statutes
§ 5-28-29-27 — Reserve fund; corporation pledges
Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 28 INDIANA ECONOMIC DEVELOPMENT·Ch. 29 Capital Access Program
The corporation shall pledge the following to the lender:
(1)The money in the reserve fund will be available to pay claims
under section 29 of this chapter.
(2)The lender will have a first security interest in the money in
the reserve fund to pay the claims.
(3)The corporation will not encumber or pledge the money to any
other party.
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Legislative History
As added by P.L.162-2007, SEC.24.
Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
Restrictions on powers§ 5-1-11.5-1
"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" defined