reglab/housing_qa huggingface dataset:
IN Code § 5-1.2-4-11 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-11. Bonds; Issue to Renew or Pay Bonds; Refund

Sec. 11. (a) The authority has the power to issue, from time to time, bonds to renew or to pay bonds, including the interest on these bonds, whenever the authority considers refunding expedient, to refund any bonds by the issuance of new bonds, whether the bonds to be refunded have or have not matured, and to issue bonds partly to refund outstanding bonds and partly for any other of its purposes, powers, and programs.(b) The refunding bonds may be sold and the proceeds applied to the purchase, redemption, or payment of the bonds to be refunded, or exchanged for the bonds to be refunded.(c) A savings to the authority or to the unit issuing the bonds to be refunded is not required for the issuance of the refunding bonds or the issuance of bonds to refund refunding bonds. Refunding bonds issued under this article are payable out of any specified revenue or money of the authority, subject only to any agreements with the holders of particular bonds pledging any particular money or revenue.(d) Refunding bonds issued under this section are not:(1) in any respect a general obligation of the authority; and(2) payable in any manner from revenues raised by taxation.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-12 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-12. Pledges

Sec. 12. Any pledge made by the authority is valid and binding from the time when the pledge is made. The revenue, money, or properties so pledged and received by the authority after the pledge is immediately subject to the lien of the pledge without any physical delivery or further act, and the lien of any pledge is valid and binding against all parties having claims of any kind in tort, contract, or otherwise against the authority, irrespective of whether the parties have notice. The resolution or any other instrument by which a pledge is created does not need to be recorded.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-13 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-13. Bonds; Purchase by Authority

Sec. 13. The authority, subject to any agreements with bondholders as may then exist, has the power out of any funds available to purchase bonds of the authority, which, at the option of the authority, shall be canceled after the purchase, at any reasonable price which, if the bonds are then redeemable, shall not exceed the redemption price then applicable plus accrued interest to the next interest payment on the bond.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-14 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-14. Bonds; Trust Agreement or Indenture

Sec. 14. The bonds may be secured by a trust agreement or indenture by and between the authority and a corporate trustee, which may be a bank having the power of a trust company or any trust company within or without the state. The trust agreement or indenture may contain provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the authority in relation to the exercise of the authority's powers and the custody, safekeeping, and application of all money related to the particular bond financing for which the trust agreement or indenture exists. The authority may provide by the trust agreement or indenture for the payment of the proceeds of the bonds and the revenue to the trustee under the trust agreement or indenture or other depository, and for the method of disbursement of the proceeds, with safeguards and restrictions as the authority may determine. All expenses incurred in carrying out the trust agreement or indenture may be treated as a part of the operating expenses of the authority. If the bonds are secured by a trust agreement or indenture, the bondholders have no authority to appoint a separate trustee to represent them.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-15 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-15. Bonds; Negotiability

Sec. 15. Whether the bonds are in the form and character of negotiable instruments, the bonds are negotiable instruments, subject only to provisions of the bonds relating to registration.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-16 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-16. Bonds; Execution; Manual or Facsimile Signatures

Sec. 16. Any bonds issued by the authority under this article shall be executed by the manual or facsimile, except as otherwise provided in this article, signatures of the officers or agents of the authority that the authority designates. If bonds are issued pursuant to a trust indenture, the manual authentication of each bond by the trustee shall be required. If bonds are issued without a trust indenture or trustee, at least one (1) of the officers or agents of the authority shall manually execute each bond. If any of the members or officers of the authority shall cease to be members or officers of the authority before the delivery of any bonds or coupons signed by them, their signatures or facsimiles shall nevertheless be valid and sufficient for all purposes, the same as if the members or officers had remained in office until the delivery. Pending preparation of the definitive bonds, the authority may issue interim receipts or certificates, which must be exchanged for the definitive bonds.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-17 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-17. Personal Liability for Acts Authorized by Affected Statutes

Sec. 17. The members of the authority, the officers and employees of the authority, the public finance director, any agents of the authority, and any other persons executing bonds issued under the referenced statutes are not subject to personal liability or accountability by reason of any act authorized by the referenced statutes, including without limitation the issuance of bonds, the failure to issue bonds, the execution of bonds, and the making of guarantees.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-18 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-18. Funds and Accounts; Establishment

Sec. 18. The authority may create and establish any funds and accounts necessary or desirable for the authority's purposes.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-19 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-19. Money; Deposit; Security; Trust Funds

Sec. 19. All money received by the authority, except as provided in the referenced statutes, shall be deposited as soon as practical in a separate account or accounts in banks or trust companies organized under the laws of this state or in national banking associations. The money in these accounts shall be paid out on checks signed by the chair or other officers or employees of the authority that the authority authorizes or by wire transfer or other electronic means authorized by the authority. All deposits of money shall, if required by the authority, be secured in a manner that the authority determines to be prudent, and all banks or trust companies are authorized to give security for the deposits. Notwithstanding any other law to the contrary, all money received pursuant to the referenced statutes is a trust fund to be held and applied solely as provided in the referenced statutes. The resolution authorizing any obligations, or trust agreement or indenture securing the same, may provide that any of the money may be temporarily invested pending the disbursement of the money, and shall provide that any officer with whom or any bank or trust company with which the money is deposited shall act as trustee of the money and shall hold and apply the money for the authorized purposes of the authority, subject to the referenced statutes, the authority's investment policy, and the resolution or trust agreement or indenture.As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.14.
IN Code § 5-1.2-4-20 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-20. Money for the Payment of Bonds; Contracts; Security

Sec. 20. Notwithstanding section 19 of this chapter, the authority has the power to contract with the holders of any of its bonds as to the custody, collection, securing, investment, and payment of any money of the authority and of any money held in trust or otherwise for the payment of bonds, and to carry out the contract. Money held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of money may be secured in the same manner as money of the authority, and all banks and trust companies are authorized to give security for the deposits.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-21 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-21. Bonds; Pledge of State

Sec. 21. The state pledges to and agrees with the holder of any bonds issued under this article that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with bondholders or in any way impair the rights or remedies of bondholders until the bonds, together with the interest, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of bondholders, are fully met and discharged. The authority is authorized to include this pledge and agreement of the state in any agreement with the bondholders.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-22 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-22. Bonds; Exempt From State Taxes

Sec. 22. Bonds issued under this article and:(1) proceeds received from their sale by a holder, to the extent of the holder's costs of acquisition;(2) proceeds received on their redemption before maturity;(3) proceeds received at their maturity; and(4) interest received on them;are exempt from state taxes as provided by IC 6-8-5.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-23 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-23. Bonds; Legal Investments; Securities

Sec. 23. The bonds issued under this article by the authority are declared to be legal investments in which all public officers or public bodies of this state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, savings associations, including savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons who are authorized to invest in bonds or in other obligations of this state, may invest funds, including capital, in their control or belonging to them. The bonds are also made securities that may be deposited with and received by all public officers and bodies of this state or any agency or political subdivisions of this state and all municipalities and public commissions for any purpose for which the deposit of bonds or other obligations of this state is authorized by law.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-24 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-24. Application of State Laws

Sec. 24. The issuance of bonds and the adoption of rules under the referenced statutes need not comply with the requirements of any other state laws applicable to the issuance of the bonds or adoption of these rules. No proceedings, notice, or approval is required for the issuance of any bonds or any instrument or the security for the bonds or instrument, except as provided in the referenced statutes. All economic development projects for which funds are advanced, loaned, or otherwise provided by the authority under IC 5-1.2-9 must be in compliance with any land use, zoning, subdivision, and other laws of this state applicable to the land upon which the economic development project is located or is to be constructed, but a failure to comply with these laws does not invalidate any bonds issued to finance an economic development project under IC 5-1.2-9.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-25 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-25. Bonds; Exempt for Securities Registration

Sec. 25. Any bonds issued by the authority pursuant to this article and any other securities issued in connection with a financing under this article are exempt from the registration and other requirements of IC 23-19 and any other securities registration laws.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-26 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-26. Bond Holders; Right to Specific Performance

Sec. 26. Any holder of bonds or any coupons appertaining to the bonds, and the trustee under any trust agreement or resolution authorizing the issuance of the bonds, except to the extent the rights given in this article may be restricted by the trust agreement or resolution, may, either at law or in equity, by suit, action, mandamus, or other proceeding, protect and enforce any and all rights under the laws of Indiana, or under the trust agreement or resolution, or under any other contract executed by the authority under this article, and enforce and compel the performance of all duties required by this article or by the trust agreement or resolution to be performed by the authority or by any officer of the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-27 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-27. Payment of Expenses and Power to Incur Indebtedness; Limitations; Authority Budget

Sec. 27. (a) All expenses incurred by the authority in carrying out the referenced statutes are payable solely from funds provided under the referenced statutes, except to the extent payable from grants or advances from participating providers or any other entity, which grants or advances may be reimbursed from bond proceeds, and nothing in the referenced statutes shall be construed to authorize the authority to incur indebtedness or liability of the state or any political subdivision.(b) The authority shall annually prepare a budget that allocates the expenses incurred by the authority in an equitable manner among the programs administered by the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-28 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-28. Property; Tax Exemption

Sec. 28. (a) Except as provided in subsection (b), all property, both tangible and intangible, acquired or held by the authority under the referenced statutes is declared to be public property used for public and governmental purposes, and all the property and income from the property is at all times exempt from all taxes imposed by this state, any county, any city, or any other political subdivision of this state, except for the financial institutions tax imposed under IC 6-5.5.(b) Property owned by the authority and:(1) leased to a person for an economic development project; or(2) financed by a loan;under IC 5-1.2-9 is not public property. The property and the economic development project are subject to all taxes of this state or any county, city, or other political subdivision of this state in the same manner and subject to the same exemptions that apply to all persons.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-29 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-29. Annual Report

Sec. 29. The authority shall, following the close of each fiscal year, submit an annual report of the authority's activities under the referenced statutes for the preceding year to the governor, the budget committee, and the general assembly. A report submitted to the general assembly must be in an electronic format under IC 5-14-6. Each report shall set forth a complete operating and financial statement for the authority during the fiscal year it covers.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-30 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-30. Participants May Invest Funds

Sec. 30. Notwithstanding any statute applicable to or constituting any limitation on the investment or reinvestment of funds by or on behalf of political subdivisions:(1) a participant receiving financial assistance in connection with a program may invest and reinvest funds that constitute, replace, or substitute for the proceeds of bonds or other evidence of indebtedness sold to the authority under the program, together with any account or reserves of a participant not funded with the proceeds of the bonds or other evidence of indebtedness purchased by the authority but that secure or provide payment for those bonds or other evidence of indebtedness, in any instrument or other investment authorized under a resolution of the authority; and(2) a participant that is obligated to make payments on bonds or other evidence of indebtedness purchased in connection with the operation of a program may invest and reinvest funds that constitute, replace, or substitute for the proceeds of those bonds or other evidence of indebtedness, together with any account or reserves of a participant not funded with the proceeds of the bonds or other evidence of indebtedness purchased under the program but that secure or provide payment for those bonds or other evidence of indebtedness, in any instrument or other investment authorized under a resolution of the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-31 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-31. Participants May Borrow Money From the Authority; Competitive Sale Requirements Inapplicable; Issue and Sell Notes; Terms

Sec. 31. (a) Notwithstanding any other law, a participant may borrow money from the authority for any program by negotiating a loan or other financial assistance directly with the authority and without complying with requirements for the competitive sale of bonds, notes, or other obligations or evidence of indebtedness. A participant shall observe any existing contractual commitments to bondholders or other persons when entering into a financial assistance agreement.(b) Notwithstanding any other law, a participant may issue and sell notes, the principal and accrued interest on which shall be paid with proceeds from the issuance of bonds or other available money at the time the notes are due. The notes must be issued under a resolution or ordinance and the proceeds must be used to carry out the purposes allowed by the program.(c) A participant that issues notes under subsection (b) may renew or extend the notes periodically on terms agreed to with the authority, and the authority may purchase and sell the renewed or extended notes. Accrued interest on the date of renewal or extension may be paid or added to the principal amount of the note being renewed or extended.(d) The notes issued by a participant under subsection (b), including any renewals or extensions, must mature:(1) in the amounts; and(2) at the times not exceeding four (4) years from the date of original issuance;that are agreed to by the participant and the authority.(e) Compliance with subsection (b) constitutes full authority for a participant to issue notes and sell the notes to the authority, and the participant is not required to comply with any other law applicable to the authorization, approval, issuance, and sale of the notes. The notes are:(1) valid and binding obligations of the participant;(2) enforceable in accordance with the terms of the notes; and(3) payable solely from the sources specified in the resolution or ordinance authorizing the issuance of the notes.(f) If the participant issues bonds, all or part of the proceeds of which will be used to pay notes issued under subsection (b), the:(1) provisions of this section; or(2) actual issuance by a participant of notes under subsection (b);do not relieve the participant of the obligation to comply with the statutory requirements for the issuance of bonds.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-4-32 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 4. General Powers and Duties|5-1.2-4-32. Liability

Sec. 32. (a) Notwithstanding any other law, the authority, program, or program related fund, or any person or agent acting on behalf of the authority, the program, or the program related fund, is not liable in damages or otherwise to any participant or party seeking to be a participant for any act or omission in connection with a loan or other financial assistance, or any application, service, or other undertaking, allowed by or taken under this article applicable to any program or any related fund or under any financial assistance agreement or related agreement or understanding.(b) No direction given by or service or other undertaking allowed or taken under this article applicable to any program or related fund or under any financial assistance agreement or related agreement or understanding by the authority is a defense for or otherwise excuses any act or omission of a participant otherwise required or imposed by law upon a participant under any chapter applicable to any program or related fund or under any financial assistance agreement or related agreement or understanding.As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.15.