Indiana § 8-15.5-11-3 Establishment of fund; administration; accounts; investment

Indiana Statutes

§ 8-15.5-11-3 — Establishment of fund; administration; accounts; investment

Indiana § 8-15.5-11-3

Art. 15.5PUBLIC-PRIVATE AGREEMENTS FOR TOLL

Ch. 11Toll Road Fund

This text of Indiana § 8-15.5-11-3 (Establishment of fund; administration; accounts; investment) 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 § 8-15.5-11-3 (2026).

Text

(a)The toll road fund is established to provide funds to:

(1)pay or defease certain bonds in the manner provided by this chapter;

(2)pay amounts owed by the authority in connection with the execution and performance of a public-private agreement under this article, including operating expenses of the authority; and

(3)make distributions to the next generation trust fund and the major moves construction fund.

(b)The authority shall hold, administer, and manage the fund.

(c)Expenses of administering the fund shall be paid from money in the fund.

(d)The fund consists of the following:

(1)Money received from an operator under a public-private agreement.

(2)Appropriations, if any, made by the general assembly.

(3)Grants and gifts intended for deposit in the fund.

(4)Interest, premium

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(a) The toll road fund is established to
provide funds to:
(1) pay or defease certain bonds in the manner provided by this
chapter;
(2) pay amounts owed by the authority in connection with the
execution and performance of a public-private agreement under
this article, including operating expenses of the authority; and
(3) make distributions to the next generation trust fund and the
major moves construction fund.
(b) The authority shall hold, administer, and manage the fund.
(c) Expenses of administering the fund shall be paid from money in
the fund.
(d) The fund consists of the following:
(1) Money received from an operator under a public-private
agreement.
(2) Appropriations, if any, made by the general assembly.
(3) Grants and gifts intended for deposit in the fund.
(4) Interest, premiums, gains, or other earnings on the fund.
(5) Amounts transferred to the fund under subsection (i).
(6) Amounts transferred to the fund under IC 8-14-14-6(a)(5).
(e) The authority shall establish the following separate accounts
within the fund:
(1) The bond retirement account.
(2) The administration account.
(3) The eligible project account.
(f) Money in the fund shall be deposited, paid, and secured in the
manner provided by IC 5-1.2-4-19. Notwithstanding IC 5-13, the
authority shall invest the money in the fund that is not needed to meet
the obligations of the fund in the manner provided by an investment
policy established by resolution of the authority.
(g) The fund is not part of the state treasury and is considered a trust
fund for purposes of IC 4-9.1-1-7. Money may not be transferred,
assigned, or otherwise removed from the fund by the state board of
finance, the budget agency, or any other state agency.
(h) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.
(i) As soon as practicable after a public-private agreement
concerning the Indiana Toll Road has been executed and the closing for
each financing transaction required to provide funding to carry out the
agreement has been conducted, the authority shall determine the total
balance remaining in all toll road funds and accounts established under
IC 8-15-2. Subject to any applicable trust indentures securing toll road
bonds, the authority may retain from those funds and accounts the
amounts necessary to pay outstanding obligations with respect to the
operation of the Indiana Toll Road incurred before the effective date of
the public-private agreement, and shall transfer all remaining balances
in the toll road funds and accounts to the fund.