§ 5-28-30-9 — Industrial development project guaranty fund

There is created an industrial development
project guaranty fund which shall be used by the corporation as a
nonlapsing, revolving fund for carrying out the provisions of the
guaranty program. The corporation may expend money from the
guaranty fund as the authority considers appropriate to carry out the
purposes of this chapter and IC 5-1.2-9. The guaranty fund consists of
the money, if any, appropriated by the general assembly. To this sum
shall be charged those expenses of the corporation attributable and
allocated by the corporation to the guaranty program, including
interest, principal, and lease payments required by loan or lease
defaults under the guaranty program, and to the sum shall be credited
that income of the corporation attributable and allocated by the
corporation to the guaranty program, including guarantee premiums.

Legislative History

As added by P.L.162-2007, SEC.25. Amended by P.L.189-2018, SEC.52.