reglab/housing_qa huggingface dataset:
IN Code § 5-1.3-5-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 5. Leases|5-1.3-5-3. Transfers, Leases, and Leasebacks

Sec. 3. The NWIRDA may sell, transfer, or convey by any means any rail project to the IFA through negotiation of a lease. The NWIRDA may lease any existing rail project system or property under its control to the IFA for construction of a rail project. The rail project may be leased back to the NWIRDA.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-5-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 5. Leases|5-1.3-5-4. Payment of Lease Rentals and Securing Bonds

Sec. 4. The NWIRDA shall pay lease rentals for leases entered into under this chapter and securing bonds issued under IC 5-1.3-6 from revenues deposited in a separate fund established under IC 36-7.5-4-1.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-5-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 5. Leases|5-1.3-5-5. Lease Terms

Sec. 5. (a) Before a lease may be entered into by the NWIRDA under this chapter, the NWIRDA must find that the lease rental provided for is fair and reasonable.(b) A lease of a rail project from the IFA to the NWIRDA:(1) may not have a term exceeding forty (40) years;(2) may not require payment of lease rentals for a newly constructed rail project or for improvements to an existing rail project until the rail project or improvements to the rail project have been completed and are ready for availability or use or for partial availability or use;(3) may contain provisions:(A) allowing the NWIRDA to continue to operate an existing rail project or cause an existing rail project to be operated until completion of the acquisition, improvements, reconstruction, or renovation of that rail project or any other rail project; and(B) requiring payment of lease rentals for land, for an existing rail project being used, reconstructed, or renovated, or for any other existing rail project;(4) may contain an option to renew the lease for the same or shorter term on the conditions provided in the lease;(5) must contain an option for the NWIRDA to purchase the rail project upon the terms stated in the lease during the term of the lease for a price equal to the amount required to pay all indebtedness incurred on account of the rail project, including indebtedness incurred for the refunding of that indebtedness;(6) may be entered into before acquisition or construction of a rail project;(7) may provide that the NWIRDA must agree to:(A) pay or cause to be paid, any taxes and assessments on the rail project;(B) maintain or cause to be maintained, insurance on the rail project for the benefit of the NWIRDA;(C) assume or cause to be assumed, responsibility for utilities, repairs, alterations, and any costs of operation; and(D) pay or cause to be paid, a deposit or series of deposits to the IFA from any funds legally available to the NWIRDA before the commencement of the lease to secure the performance of the NWIRDA's obligations under the lease;(8) must provide that the lease rental payments by the NWIRDA shall be made from the fund established under IC 36-7.5-4-1 and may provide that the lease rental payments by the NWIRDA shall be made from:(A) net revenues of the rail project;(B) any other funds available to the NWIRDA; or(C) both sources described in clauses (A) and (B);(9) must provide that the IFA is not responsible for the operation and maintenance of the rail project or rail projects upon completion of construction; and(10) does not create a debt of the:(A) IFA;(B) NWIRDA; or(C) state;within the meaning or application of any constitutional or statutory provision, prohibition, or limitation.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-5-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 5. Leases|5-1.3-5-6. Complete Authority

Sec. 6. This chapter contains full and complete authority for leases between the IFA and the NWIRDA. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the IFA or the NWIRDA or any other officer, department, agency, or instrumentality of the state or any political subdivision is required to enter into any lease, except as prescribed in this article.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-5-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 5. Leases|5-1.3-5-7. Additional Authorization

Sec. 7. (a) The NWIRDA may lease for a nominal lease rental, or sell to the IFA, one (1) or more rail projects or portions of a rail project or land upon which a rail project is located or is to be constructed.(b) Any lease of all or a portion of a rail project by the NWIRDA to the IFA must be for a term equal to the term of the lease of that rail project back to the NWIRDA.(c) The NWIRDA may sell property to the IFA for the amount the NWIRDA determines to be in the best interest of the NWIRDA. The IFA may pay that amount from the proceeds of bonds of the IFA.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-5-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 5. Leases|5-1.3-5-8. Financing Upon Termination of Lease

Sec. 8. If the NWIRDA exercises its option to purchase leased property, the NWIRDA may issue its bonds as authorized by statute.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-5-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 5. Leases|5-1.3-5-9. Ground, Operating, and Maintenance Leases

Sec. 9. This chapter contains full and complete authority for ground, operating, or maintenance leases of any kind between the NWIRDA and the NICTD. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the NWIRDA or the NICTD or any other officer, department, agency, or instrumentality of the state or any political subdivision is required to enter into any lease, except as prescribed in this article.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-5-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 5. Leases|5-1.3-5-10. Transfer of Rail Project Upon Payment of Obligation in Full

Sec. 10. The IFA shall certify to the NWIRDA and the NICTD that all bonds, notes issued, and leases or other obligations entered into with respect to the rail project or rail projects have been paid to their final maturity. At that time, the rail project or rail projects shall be transferred to the NICTD and neither the IFA or the NWIRDA shall have any further obligation with respect to the rail project or rail projects.As added by P.L.189-2018, SEC.26. Amended by P.L.10-2019, SEC.29.
IN Code § 5-1.3-6-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-1. Authorization to Issue and Sell Bonds and Notes

Sec. 1. (a) Except as provided in sections 2 and 6 of this chapter, the IFA may, by resolution, issue and sell bonds or notes of the IFA to provide funding to carry out the provisions of this article with respect to the construction of a rail project or rail projects or the refunding of any bonds or notes, together with any reasonable costs associated with a refunding.(b) Except as provided in sections 2 and 6 of this chapter, the NWIRDA may, by resolution, issue and sell bonds or notes of the NWIRDA to provide funding to carry out the provisions of this article with respect to the construction of a rail project or rail projects or the refunding of any bonds or notes, together with any reasonable costs associated with a refunding.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-2. Requirements

Sec. 2. (a) Before the issuance of bonds or notes, the IFA must:(1) receive the approval of the budget agency; and(2) receive budget committee review of a financial plan if the bonds or notes are payable from lease rental payments to be made from:(A) state appropriations; or(B) money on deposit in the next generation trust fund established under IC 8-14-15.2.(b) Before the issuance of bonds or notes, the IFA or the NWIRDA shall identify the rail project or rail projects to be financed from the proceeds of the bonds or notes.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-3. Notice; Action to Contest Validity

Sec. 3. (a) Before issuing a series of bonds or notes, the IFA or the NWIRDA shall publish a notice of its determination to issue the bonds or notes. The notice shall be published one (1) time in two (2) newspapers published and of general circulation in the area where the rail project is located.(b) An action to contest the validity of:(1) any contract related to the bonds or notes entered into by or among the IFA, the NWIRDA, or the NICTD before the bonds or notes are issued;(2) any lease related to the bonds or notes entered into by or among the IFA, the NWIRDA, or the NICTD before the bonds or notes are issued to secure a series of bonds or notes;(3) a series of bonds or notes issued by the IFA or the NWIRDA; or(4) any pledge of financial support for the bonds or notes;may not be brought after the fifteenth day following publication of the notice required by subsection (a).(c) If a lease or contract is entered into under this chapter after bonds or notes relating to the lease or contract are issued, the IFA may publish notice of execution of the lease or contract as set forth in subsection (a). An action to contest the validity of such a lease or contract, or any pledge of financial support for such a lease or contract, may not be brought after the fifteenth day following publication of the notice.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-4. Execution

Sec. 4. (a) The bonds or notes of the IFA:(1) shall be executed by the manual or facsimile signature of the chairperson or vice chairperson of the IFA;(2) shall be attested by the manual or facsimile signature of the public finance director for the IFA;(3) shall be imprinted or impressed with the seal of the IFA by any means;(4) may be authenticated by a trustee, registrar, or paying agent; and(5) constitute valid and binding obligations of the IFA, even if the chairperson, vice chairperson, or public finance director whose manual or facsimile signature appears on the bonds or notes no longer holds that office.(b) The bonds or notes of the NWIRDA:(1) shall be executed by the manual or facsimile signature of the chairperson or vice chairperson of the NWIRDA;(2) shall be attested by the manual or facsimile signature of the secretary-treasurer of the NWIRDA;(3) may be authenticated by a trustee, registrar, or paying agent; and(4) constitute valid and binding obligations of the NWIRDA, even if the chairperson, vice chairperson, or secretary-treasurer whose manual or facsimile signature appears on the bonds or notes no longer holds that office.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-5. Attributes of Bonds and Notes

Sec. 5. The bonds or notes, when issued, have all the qualities of negotiable instruments, subject to provisions for registration, under IC 26 and are incontestable in the hands of a bona fide purchaser or owner of the bonds or notes for value.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-6. Sale

Sec. 6. The bonds or notes may be sold by the IFA or the NWIRDA at a public or a negotiated sale at a time or times determined by the IFA or the NWIRDA and at a premium or discount as determined by the IFA or NWIRDA. In determining the amount of bonds or notes to be issued and sold, the IFA or the NWIRDA may include the costs of construction or of refunding bonds or notes, including reasonable debt service reserves, and all other expenses necessary or incident to the construction of the rail project, a refunding, or the issuance of the bonds or notes.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-7. Proceeds; Appropriation

Sec. 7. The proceeds of the bonds or notes are appropriated for the purpose for which the bonds or notes may be issued and the proceeds shall be deposited and disbursed in accordance with any provisions and restrictions that the IFA or the NWIRDA may provide in the resolution or trust agreement authorizing the issuance of the bonds or notes. The maturities of the bonds or notes, the rights of the owners, and the rights, duties, and obligations of the IFA and the NWIRDA, as applicable, are governed in all respects by this article and the resolution or trust agreement.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-8. Declaration Concerning Liability; Sources or Repayment

Sec. 8. The bonds or notes:(1) constitute the corporate obligations of the IFA or the NWIRDA;(2) do not constitute an indebtedness of the state within the meaning or application of any constitutional provision, prohibition, or limitation; and(3) are payable solely as to both principal and interest from:(A) the revenues from a lease to the NWIRDA, if any;(B) other available revenues, if any;(C) proceeds of bonds or notes, if any; or(D) investment earnings on proceeds of bonds or notes.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-9. Enforcement

Sec. 9. The provisions of this article and the covenants and undertakings of the IFA or the NWIRDA as expressed in any proceedings preliminary to or in connection with the issuance of the bonds or notes may be enforced, subject to the provisions of any resolution or trust agreement, by a bond or note owner by action for injunction or mandamus against the IFA or the NWIRDA or any officer, agent, or employee of the IFA or the NWIRDA. However, no action for monetary judgment may be brought against the state for any violations of this article or for payment of the bonds or notes of the IFA or the NWIRDA.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-10. Exemption From Taxation

Sec. 10. (a) All bonds or notes issued under this article by the IFA are issued by a body corporate and politic of this state, but not a state agency, and for an essential public and governmental purpose. The bonds and notes, the interest on the bonds and notes, the proceeds received by an owner from the sale of the bonds or notes to the extent of the owner's cost of acquisition, proceeds received upon redemption for maturity, proceeds received at maturity, and the receipt of the interest and proceeds are exempt from taxation for all purposes except the financial institutions tax imposed under IC 6-5.5.(b) All bonds or notes issued under this article by the NWIRDA are issued by a body corporate and politic. The bonds and notes, the interest on the bonds and notes, the proceeds received by an owner from the sale of the bonds or notes to the extent of the owner's cost of acquisition, proceeds received upon redemption for maturity, proceeds received at maturity, and the receipt of the interest and proceeds are exempt from taxation for all purposes except the financial institutions tax imposed under IC 6-5.5.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-11 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-11. Authorization to Invest

Sec. 11. Notwithstanding any other law, all financial institutions, investment companies, insurance companies, insurance associations, executors, administrators, guardians, trustees, and other fiduciaries may legally invest sinking funds or other money belonging to them or within their control in bonds or notes issued under this chapter.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-12 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-12. Exemption From Registration Requirements

Sec. 12. Bonds or notes issued under this chapter are exempt from the registration requirements of IC 23-19 and any other state securities registration statutes.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-13 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-13. Pledges

Sec. 13. A pledge of lease rentals, proceeds of bonds or notes, investment earnings on those proceeds, or other money pledged by the IFA or the NWIRDA is binding from the time the pledge is made. Lease rentals, proceeds of bonds or notes, investment earnings on those proceeds, or other money pledged by the IFA or the NWIRDA and received after the pledge by the IFA or the NWIRDA or its trustee or fiduciary is immediately subject to the lien of the pledge without any further act, and the lien of the pledge is binding against all parties having claims of any kind in tort, contract, or otherwise against the IFA, regardless of whether the parties have notice of the lien. A resolution, trust agreement, or any other instrument by which a pledge is created is required to be filed or recorded only in the records of the IFA.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-14 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-14. Insurance; Guaranty

Sec. 14. (a) The IFA may obtain from the NWIRDA or an agency of the state or of the United States, or from a nongovernmental insurer, available insurance or guaranty for the payment or repayment of interest or principal, or both, or any part of interest or principal, or any debt service reserve funds, on bonds or notes issued by the IFA, or on securities purchased or held by the IFA.(b) The NWIRDA may obtain from the IFA or an agency of the state or of the United States, or from a nongovernmental insurer, available insurance or guaranty for the payment or repayment of interest or principal, or both, or any part of interest or principal, or any debt service reserve funds, on bonds or notes issued by the NWIRDA, or on securities purchased or held by the NWIRDA.As added by P.L.189-2018, SEC.26. Amended by P.L.10-2019, SEC.30.
IN Code § 5-1.3-6-15 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-15. Agreements for Credit Enhancement or Liquidity Support

Sec. 15. The IFA or the NWIRDA may enter into agreements with an entity to provide credit enhancement or liquidity support for any bonds or notes issued by the IFA or the NWIRDA, or for any debt service reserves securing any bonds or notes, with terms that are reasonable and proper, in the discretion of the IFA or the NWIRDA, and not in violation of law. The IFA or the NWIRDA may execute and deliver notes to evidence its obligation to make payments under such an agreement, but these notes must conform to this article in all respects.As added by P.L.189-2018, SEC.26.
IN Code § 5-1.3-6-16 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.3. Lease Financing for Rail Projects for the Northwest Indiana Regional Development Authority and the Northern Indiana Commuter Transportation District|Chapter 6. Bonds and Notes|5-1.3-6-16. Contracts for Handling Securities and Money

Sec. 16. The IFA or the NWIRDA may enter into agreements or contracts with any financial institution as may be necessary, desirable, or convenient in the opinion of the IFA or the NWIRDA for rendering services in connection with:(1) the care, custody, or safekeeping of securities or other investments held or owned by the IFA or the NWIRDA;(2) the payment or collection of amounts payable as to principal or interest; and(3) the delivery to the IFA or the NWIRDA of securities or other investments purchased or sold by it.The IFA or the NWIRDA may also, in connection with any of the services rendered by a financial institution as to custody and safekeeping of its securities or investments, require security in the form of collateral bonds, surety agreements, or security agreements as, in the opinion of the IFA or the NWIRDA, is necessary or desirable.As added by P.L.189-2018, SEC.26.