reglab/housing_qa huggingface dataset:
IN Code § 5-13-9-5.7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9. Deposit and Investment Powers|5-13-9-5.7. Political Subdivision Investment Policy

Sec. 5.7. (a) The fiscal body of a political subdivision may adopt an investment policy authorizing the investment of public funds of the political subdivision for more than two (2) years and not more than five (5) years. The policy must:(1) be in writing;(2) be adopted at a public meeting;(3) provide for the investment of public funds with the approval of the investing officer;(4) provide that the investments must be made in accordance with this article;(5) limit the total investments outstanding under this section to not more than twenty-five percent (25%) of the total portfolio of public funds invested by the political subdivision, including balances in transaction accounts; and(6) state a date on which the policy expires, which may not be more than four (4) years after the date on which the policy takes effect.(b) A policy adopted by a fiscal body under subsection (a) remains in effect only through the date of expiration established in the policy, which may not be more than four (4) years after the date on which the policy takes effect.(c) A fiscal body that has adopted a written investment policy under subsection (a) may adopt an ordinance authorizing its investing officer to make investments having a stated final maturity that is:(1) more than two (2) years; but(2) not more than five (5) years;after the date of purchase or entry into a repurchase agreement.(d) An ordinance adopted by a fiscal body under subsection (c) and the power to make an investment described in subsection (c) expire on the date on which the policy expires, which may not be more than four (4) years after the date on which the policy takes effect.(e) After an investment of public funds of a political subdivision is made by the investing officer under this section, the total investments of the political subdivision outstanding under this section may not exceed twenty-five percent (25%) of the total portfolio of public funds invested by the political subdivision, including balances in transaction accounts. However, an investment that complies with this section when the investment is made remains legal even if:(1) the investment policy has expired; or(2) a subsequent decrease in the total portfolio of public funds invested by the political subdivision, including balances in transaction accounts, causes the percentage of investments outstanding under this section to exceed twenty-five percent (25%) of the total portfolio of public funds invested by the political subdivision.(f) An investing officer may contract with a federally regulated investment advisor or other institutional money manager to make investments under this section.As added by P.L.43-2012, SEC.2. Amended by P.L.13-2013, SEC.9.
IN Code § 5-13-9-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9. Deposit and Investment Powers|5-13-9-6. Interest Received From Investment; Deposit; Receipt; Reinvestment; Disposition

Sec. 6. (a) All interest derived from an investment by a political subdivision or by any other local public officer under the authority granted by section 3 of this chapter shall be deposited, except as otherwise provided by law, in the general fund of the investment authority or in any other fund its governing body designates specifically or by rule, subject to the modifications and limitations in this section.(b) Interest from the following investments shall be receipted as follows:(1) Interest from investments of funds of a political subdivision that are traceable to United States government funds must be receipted to the fund of which they are a part, if required by federal law or regulation.(2) Interest from investments of funds controlled by court orders must be receipted to that fund unless otherwise designated by the court order.(c) Each county treasurer, if authorized by the board of county commissioners, may invest tax collections under this chapter pending distribution of the collections to political subdivisions. These investments may not:(1) exceed the amount available after giving consideration to taxes which may need to be advanced to any political subdivision; or(2) be made in deposit accounts or repurchase agreements, the maturity dates of which are later than the time when the tax collections are required by law to be distributed to political subdivisions.(d) The interest received on the investments made under subsection (c) shall be receipted to the county general fund or any other fund from which expenses incurred in the maintenance of county highways may be paid. The county fiscal body (as defined in IC 36-1-2-6) shall determine the allocation of this interest among the general fund and the various highway funds into which the interest may be deposited.(e) Any political subdivision may apply the interest derived from the investment of the proceeds from bonded indebtedness or local tax levies to the appropriate redemption bond interest or sinking fund for the bonded indebtedness.(f) If meter deposits of a municipally owned utility are invested, the interest earned on the investment may be applied to and used in the operation or depreciation fund of the municipally owned utility as determined by its governing body.(g) Interest from the investment of the public funds of a political subdivision may not be paid personally or for the benefit of any public officer.As added by P.L.19-1987, SEC.11. Amended by P.L.68-1989, SEC.1; P.L.18-1996, SEC.19.
IN Code § 5-13-9-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9. Deposit and Investment Powers|5-13-9-8. Service Charges; Consideration in Computing Interest Rate; Payment by Direct Charge or From Interest Earned; Reporting by Political Subdivision

Sec. 8. Any investing officer of a political subdivision that makes a deposit in any deposit or other account may be required to pay a service charge to the depository in which the funds are deposited, if the depository requires all customers to pay the charge for providing that service. However, the service charge imposed must be considered in the computation of the interest rate for determining which depositories are entitled to investments as prescribed by sections 4 and 5 of this chapter. If the total service charge cannot be computed before the investment, the investing officer shall estimate the service charge and adjust the interest rate based on this estimate. The service charge may be paid:(1) by direct charge to the deposit or other account; or(2) in a manner that subtracts the service charge from interest earned on the funds in the deposit or other account.If the manner described in subdivision (2) is used to pay the service charge, the political subdivision must report the net interest deposited in the political subdivision's financial records, and the political subdivision is not required to report the amount of the service charge subtracted in the political subdivision's financial records.As added by P.L.19-1987, SEC.11. Amended by P.L.18-1996, SEC.20; P.L.147-2011, SEC.1; P.L.202-2011, SEC.1; P.L.233-2015, SEC.11.
IN Code § 5-13-9-8.5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9. Deposit and Investment Powers|5-13-9-8.5. Designation as Public Funds

Sec. 8.5. Funds deposited in deposit accounts in accordance with this chapter and interest earned or accrued on the funds are public funds and are covered by the insurance fund.As added by P.L.18-1996, SEC.21.
IN Code § 5-13-9-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9. Deposit and Investment Powers|5-13-9-9. Prohibited Acts

Sec. 9. An officer designated in section 1 of this chapter may not do the following:(1) Purchase securities on margin.(2) Open a securities margin account for the investment of public funds.As added by P.L.72-1995, SEC.5.
IN Code § 5-13-9.3-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.3. Investment of Proceeds Received From the Sale of Certain Capital Assets|5-13-9.3-1. "Capital Asset"

Sec. 1. As used in this chapter, "capital asset" means a building, a fixture, a structure, an improvement, or land.As added by P.L.139-2015, SEC.2.
IN Code § 5-13-9.3-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.3. Investment of Proceeds Received From the Sale of Certain Capital Assets|5-13-9.3-2. "Fund"

Sec. 2. As used in this chapter, "fund" means a fund established under section 4 of this chapter.As added by P.L.139-2015, SEC.2.
IN Code § 5-13-9.3-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.3. Investment of Proceeds Received From the Sale of Certain Capital Assets|5-13-9.3-3. Investment of Proceeds From Certain Capital Assets; Ordinance or Resolution

Sec. 3. (a) Subject to the requirements of this chapter, the fiscal body of a political subdivision may adopt an ordinance (in the case of a county or municipality) or a resolution (in the case of any other political subdivision) to authorize the investment of proceeds from the sale of a capital asset owned by the political subdivision. A fiscal body may adopt an ordinance under this subsection before, after, or at the time of the sale of the capital asset.(b) Proceeds from the sale of a capital asset owned by a political subdivision may be invested as provided in this chapter only if:(1) the total amount received (either before July 1, 2015, or after June 30, 2015) or that will be received from the sale of the capital asset exceeds fifty million dollars ($50,000,000); and(2) the fiscal body of the political subdivision has adopted an ordinance or a resolution, as described in subsection (a), that applies to the investment of proceeds from the sale of that particular capital asset.As added by P.L.139-2015, SEC.2.
IN Code § 5-13-9.3-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.3. Investment of Proceeds Received From the Sale of Certain Capital Assets|5-13-9.3-4. Establishment of Separate Fund; Investment Powers; Agreement With Investment Advisor; Expenditure or Transfer of Money in the Fund

Sec. 4. (a) If the fiscal body of a political subdivision adopts an ordinance or a resolution under section 3 of this chapter for a particular capital asset, the fiscal officer of the political subdivision shall establish a separate fund into which some or all of the proceeds from the sale of the capital asset shall be deposited. All interest and other income earned on investments of money in the fund shall be deposited in the fund. The ordinance or resolution under section 3 of this chapter must require that the investing officer of the political subdivision shall contract with a registered investment advisor concerning the investment of the proceeds in the fund with the expanded investment authority granted to the political subdivision under this section.(b) Notwithstanding IC 5-13 or any other law, the investing officer of the political subdivision may invest money in the fund in the same manner as money in the next generation trust fund may be invested under IC 8-14-15.2-9(b). A political subdivision shall enter into an agreement with a registered investment advisor to provide advice regarding investment of money in the fund. The political subdivision shall, with the advice of the registered investment advisor, enter into agreements with investment managers for the investment of the funds. These agreements:(1) must be a fee-for-service agreement; and(2) may not provide that the compensation of the investment management professionals or investment advisors is determined in whole or in part by the amount or percentage of the investment income earned on money in the fund.(c) Money in the fund may not be expended or transferred from the fund, except as provided in this chapter.As added by P.L.139-2015, SEC.2. Amended by P.L.189-2018, SEC.33.
IN Code § 5-13-9.3-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.3. Investment of Proceeds Received From the Sale of Certain Capital Assets|5-13-9.3-5. Principal and Interest of Money in the Fund; Appropriation Required; Limits

Sec. 5. The following apply to money deposited in the fund:(1) The principal of the fund consists of:(A) the amount deposited in the fund as the proceeds from the sale of the capital asset; plus(B) any investment income that is:(i) earned on money in the fund; and(ii) added to the principal of the fund as provided in subdivision (2).(2) To the extent that investment income earned on money in the fund during a calendar year exceeds five percent (5%) of the amount of the principal at the beginning of the calendar year, that excess investment income shall, for purposes of this chapter, be added to and be considered a part of the principal of the fund.(3) Money may be expended from the fund only upon appropriation by the fiscal body of the political subdivision. Money may be transferred from the fund to another fund of the political subdivision only if the fiscal body of the political subdivision authorizes the transfer by ordinance (in the case of a county or municipality) or by resolution (in the case of any other political subdivision). However, an expenditure or transfer of any money that is part of the principal of the fund may be made only if the expenditure or transfer is approved:(A) by each member of the fiscal body of the political subdivision; and(B) by each member of the executive of the political subdivision.(4) All money in the fund that is in a deposit account and not in some other form of investment shall be deposited in one (1) or more designated depositories of the political subdivision in the same manner as other public funds of the political subdivision are deposited under IC 5-13-9.As added by P.L.139-2015, SEC.2.
IN Code § 5-13-9.3-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.3. Investment of Proceeds Received From the Sale of Certain Capital Assets|5-13-9.3-6. Department of Local Government Finance May Not Reduce Levy

Sec. 6. The department of local government finance may not reduce a political subdivision's property tax levy under IC 6-1.1-18.5 or any other law on account of money deposited in a fund established under this chapter.As added by P.L.139-2015, SEC.2.
IN Code § 5-13-9.5-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.5. Designation of State Depositories|5-13-9.5-2. Consideration of Applications

Sec. 2. The state board of finance shall consider all applications of financial institutions filed with the state board of finance.As added by P.L.18-1996, SEC.22.
IN Code § 5-13-9.5-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.5. Designation of State Depositories|5-13-9.5-3. Designation of Qualified Financial Institutions as Depositories

Sec. 3. (a) The state board of finance shall designate as a depository for public funds of the state any financial institution qualified under section 1 of this chapter that:(1) properly files an application to receive a deposit of public funds of the state and to provide the security required by IC 5-13-13-7; and(2) is suitably located with reference to the convenience of the officers and state institutions using that financial institution.(b) The state board of finance may invite and act upon applications and designate depositories at any time when additional depositories may be available or are required for the state or a political subdivision.As added by P.L.18-1996, SEC.22.
IN Code § 5-13-9.5-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.5. Designation of State Depositories|5-13-9.5-4. Expiration of Designation as Depository

Sec. 4. When the state board of finance has designated a depository for public funds, the treasurer of state shall accept the application of the financial institution to act as a depository for public funds. A designation under this section expires only under the following conditions:(1) The board of depositories revokes the status of the financial institution as a depository under section 6 of this chapter.(2) The financial institution resigns as a depository under section 7 of this chapter.(3) Another law terminates the depository status of the financial institution.As added by P.L.18-1996, SEC.22.
IN Code § 5-13-9.5-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.5. Designation of State Depositories|5-13-9.5-5. Filing Copy of Institution's Statement of Condition

Sec. 5. A financial institution designated as a depository under this chapter shall, upon request of the treasurer of state, file a copy of the institution's most recent statement of condition.As added by P.L.18-1996, SEC.22.
IN Code § 5-13-9.5-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.5. Designation of State Depositories|5-13-9.5-6. Revocation of Commission of Depository; Causes

Sec. 6. (a) The board for depositories regarding depositories of public funds of the state may revoke the commission of any depository at any time for any cause considered sufficient by the board for depositories.(b) The causes for which the board for depositories may revoke the commission of a depository under subsection (a) include the failure of the depository to conduct lending activities in Indiana to such an extent that, at the end of each quarter, pursuant to the depository's certification, the sum of:(1) the total principal amount of the depository's outstanding loans to Indiana residents (as defined in IC 5-13-8-7); plus(2) the total value of the depository's investments in Indiana residents (as defined in IC 5-13-8-7);is at least equal to the total amount of public funds of the state and political subdivisions of the state that are on deposit in the depository.(c) Upon revocation, the depository shall immediately render an accounting and make settlement for all public funds deposited with the depository.As added by P.L.18-1996, SEC.22.
IN Code § 5-13-9.5-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.5. Designation of State Depositories|5-13-9.5-7. Resignation of Depository

Sec. 7. Any depository designated under this chapter may resign as a depository and relinquish all public funds on deposit with the depository. The resignation is effective:(1) thirty (30) days after written notice is given to the state board of finance; and(2) after settlement with the state board of finance for all public funds on deposit with the depository.As added by P.L.18-1996, SEC.22.
IN Code § 5-13-9.5-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 9.5. Designation of State Depositories|5-13-9.5-8. Forms

Sec. 8. (a) The state board of accounts, with the approval of the attorney general, shall prepare and prescribe:(1) a form of agreement to receive public funds on deposit that may be accepted and executed, as provided in this chapter; and(2) any other forms necessary to carry out this chapter.(b) These forms must be used by the state board of finance and depositories in the performance of the duties imposed upon the state board of finance by this chapter. All agreements and the rights of the parties must be subject to modification by any statute and by all rules adopted by the department of financial institutions concerning withdrawal of funds in times of emergency.As added by P.L.18-1996, SEC.22.
IN Code § 5-13-10-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 10. Funds Invested by the Treasurer of State|5-13-10-1. Excess Funds; Deposit in Deposit Accounts

Sec. 1. Upon determination by the treasurer of state that cash of the state on deposit is in excess of its anticipated daily cash requirements, the treasurer of state may deposit the excess funds in deposit accounts of designated depositories.As added by P.L.19-1987, SEC.12.
IN Code § 5-13-10-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 10. Funds Invested by the Treasurer of State|5-13-10-2. Deposit Accounts; Interest Rate Requirement

Sec. 2. Deposit accounts must bear interest at rates of interest not less than the rates of interest paid from time to time by each financial institution to all its depositors making comparable investments.As added by P.L.19-1987, SEC.12.
IN Code § 5-13-10-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 10. Funds Invested by the Treasurer of State|5-13-10-3. Deposit Accounts; Limitations on Deposit; Depository to File Periodic Statement of Condition; Increase of Maximum Percentage in Depository on Finding of Excess Cash

Sec. 3. The treasurer of state may not deposit aggregate funds in deposit accounts in any one (1) designated depository in an amount aggregating at any one (1) time more than fifty percent (50%) of the combined capital, surplus, and undivided profits of that depository as determined by its last published statement of condition filed with the treasurer of state. Each depository shall file with the treasurer of state each periodic statement of condition required to be filed by it with its governmental supervisory body. If the state board for depositories finds that excess cash of the state is substantially more than that which had been anticipated, it may increase that maximum percentage in any depository, and the treasurer of the state may invest the additional funds in deposit accounts distributed among the depositories substantially in proportion to their respective capital, surplus, and undivided profits.As added by P.L.19-1987, SEC.12.
IN Code § 5-13-10-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 10. Funds Invested by the Treasurer of State|5-13-10-4. Publication of Average Daily Balance of Funds; Audit of Records

Sec. 4. Within thirty (30) days following the end of each semiannual fiscal period of the state, the treasurer of state shall publish, in two (2) newspapers of general circulation in Indiana, the average daily balance of the funds maintained by the treasurer in each of the depositories in the fiscal period listing separately funds in accounts subject to withdrawal on demand or by negotiable orders of withdrawal and funds evidenced by all other depository accounts. The accuracy of the computation of the balances shall be verified by the state board of accounts in the audit of the records of the treasurer of state.As added by P.L.19-1987, SEC.12.
IN Code § 5-13-10-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 10. Funds Invested by the Treasurer of State|5-13-10-5. Interest to Be Receipted to General Fund

Sec. 5. All interest derived from investments under this chapter shall be receipted to the general fund, except as otherwise provided by law.As added by P.L.19-1987, SEC.12.
IN Code § 5-13-10-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 13. Investment of Public Funds|Chapter 10. Funds Invested by the Treasurer of State|5-13-10-6. Payment of Interest Accruing on State Held School Funds to School Corporations

Sec. 6. All interest accrued or accruing on the sinking fund or any other fund held by the state for the benefit of common schools is set apart for distribution as other revenues are distributed for the support of the common schools.[Pre-2006 Education Finance Recodification Citation: 21-1-13-1.]As added by P.L.2-2006, SEC.29.