Ind. Code § 5-1.2-4-5
Requirements; establishment of terms governing reserves or funding levels
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2023
As of January 1, 2018
Sec. 5. (a) This section does not apply to any indebtedness issued by the authority if:
Sec. 5. (a) This section does not apply to any indebtedness issued by the authority if:
(1) the proceeds will be used for a project that has been specifically authorized by the general assembly; or
(1) the proceeds will be used for a project that has been specifically authorized by the general assembly; or
(2) the indebtedness is authorized under the referenced statutes.
(2) the indebtedness is authorized under the referenced statutes.
(b) Notwithstanding any other law in effect before:
(b) Notwithstanding any other law in effect before:
(1) the authority issues indebtedness that establishes a procedure for the authority or a person acting on behalf of the authority to certify to the general assembly the amount needed to restore a debt service reserve fund or another fund to a required level; or
(1) the authority issues indebtedness that establishes a procedure for the authority or a person acting on behalf of the authority to certify to the general assembly the amount needed to restore a debt service reserve fund or another fund to a required level; or
(2) execution by the authority of any other agreement that creates a moral obligation of the state to pay all or any part of any indebtedness issued by the authority;
(2) execution by the authority of any other agreement that creates a moral obligation of the state to pay all or any part of any indebtedness issued by the authority;
the authority is subject to, and shall comply with, to the extent practicable, the requirements set forth in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(g) as if the authority were specifically named in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(g).
the authority is subject to, and shall comply with, to the extent practicable, the requirements set forth in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h) as if the authority were specifically named in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h).
(c) In addition:
(c) In addition:
(1) indebtedness described in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(g) is considered a reference to an indebtedness or agreement referred to in this section; and
(1) indebtedness described in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h) is considered a reference to an indebtedness or agreement referred to in this section; and
(2) a qualified entity referred to in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(g) is considered a reference to a borrower of any indebtedness and to any other parties referred to in this section.
(2) a qualified entity referred to in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h) is considered a reference to a borrower of any indebtedness and to any other parties referred to in this section.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.