reglab/housing_qa huggingface dataset:
IN Code § 5-1.2-7-16 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 7. Health Facility Financing|5-1.2-7-16. Payment of Lease Rental From Cumulative Building Fund

Sec. 16. In addition to the ways specified in section 15 of this chapter for the payment of lease rental, any lease executed under this chapter may provide for the payment of lease rental from a cumulative building fund established by the lessee under IC 16-22-5-3 (or IC 16-12.1-4-4 before its repeal). Part or all of a cumulative building fund and the tax levied for that cumulative building fund may be committed and pledged to the payment of the lease rental. To the extent that the amount committed and pledged is insufficient to pay the lease rental, the lease shall provide that any remaining lease rental shall be paid entirely from the net revenues of the hospital of which the leased building is a part. So long as the lease remains in effect:(1) any amount of cumulative building fund so committed and pledged may not be expended by the lessee for any other purpose; and(2) the tax levy committed and pledged for the cumulative building fund may not be reduced or rescinded by the county council.Notwithstanding any other provision of this chapter, if a lease provides for payment of lease rental under this section, no approval of the county council is required for the lease, the terms and conditions of the lease, or the sale of the land by the county to the authority under this chapter.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-7-18 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 7. Health Facility Financing|5-1.2-7-18. Options to Renew and to Purchase; Obligations of County; General Obligation Bonds

Sec. 18. (a) A lease under this chapter may provide that the lessee has an option to renew the lease for a like or lesser term, on the conditions that are provided in the lease. A lease shall contain an option to purchase:(1) at any time after ten (10) years from the execution of the lease and before the expiration of the term of lease on the date fixed in the lease; and(2) at a price equal to:(A) the amount required to enable the authority to redeem all outstanding securities payable out of the rentals provided for in the lease, all premiums payable on the redemption, and accrued and unpaid interest; and(B) all other expenses, indebtedness, and obligations of the authority attributable to the acquisition, construction, renovation, and leasing of the building.(b) A lease may not provide or be construed to provide that the county is under any obligation to purchase the leased building or under any obligation with respect to any creditor or bondholder of the authority.(c) A county exercising an option to purchase may issue general obligation bonds for the purpose of procuring funds with which to pay the purchase price of the building. The general obligation bonds shall be authorized, issued, and sold in the manner provided by law for the authorization, issuance, and sale of general obligation bonds of the county for other purposes.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-7-19 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 7. Health Facility Financing|5-1.2-7-19. Approval of Plans, Specifications, and Cost Estimates

Sec. 19. On behalf of the authority, the board of directors or board of managers of the hospital shall, before the execution of a lease, submit to and receive the approval of the board of commissioners of the county of the plans, specifications, and estimates of cost for the building or renovation. The plans and specifications shall be submitted to and approved by the state board of health, the department of homeland security, and other state agencies that are required by law to pass on plans and specifications for public buildings.As added by P.L.189-2018, SEC.25. Amended by P.L.187-2021, SEC.3.
IN Code § 5-1.2-7-20 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 7. Health Facility Financing|5-1.2-7-20. Sale of County Land to the Authority

Sec. 20. A county desiring to have a building erected or renovated on land owned or to be acquired by the county may sell that land or building to the authority. Before the sale may take place, the county commissioners shall file a petition with the circuit court, superior court, or probate court of the county requesting the appointment of:(1) one (1) disinterested freeholder of the county as an appraiser; and(2) two (2) disinterested appraisers licensed under IC 25-34.1;who are residents of Indiana to determine the fair market value of the land or building. One (1) of the appraisers described under subdivision (2) must reside not more than fifty (50) miles from the land or building. Upon appointment, the appraisers shall fix the fair market value of the land or building and shall report that value within two (2) weeks after the date of their appointment. The county may then sell the land or building to the authority for an amount not less than the amount fixed by the appraisers as the fair market value. The amount shall be paid in cash upon delivery of the deed by the county to the authority. If a cumulative building fund exists at the time of the sale, the proceeds from the sale shall be placed in that fund. If a cumulative building fund does not exist at the time of the sale, the proceeds from the sale shall be paid into the county hospital fund with the principal of and interest on the fund to be used solely by the county hospital for the purposes set forth in IC 16-22-5-3 (or IC 16-12.1-4-4 before its repeal on July 1, 1993). A sale of land or a building by a county to the authority shall be authorized by the board of commissioners by an order that shall be entered in the official records of the board. The deed shall be executed on behalf of the county by the board of county commissioners.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-7-21 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 7. Health Facility Financing|5-1.2-7-21. Party Wall Agreements

Sec. 21. A county and an authority that have entered into, or propose to enter into, a lease under this chapter may enter into party wall agreements or other agreements concerning the attaching of an addition to a hospital building, if the agreement is:(1) approved by the board of trustees or board of managers of the hospital; and(2) recorded in the office of the recorder of the county in which the hospital is located.An agreement may provide for an easement or license to construct a part of an addition over or above the existing hospital building.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-1. Purposes of This Chapter

Sec. 1. The general purposes of this chapter are the following:(1) To provide financing for educational facility projects.(2) To provide a measure of assistance and an alternative method to enable nonprofit colleges or universities in Indiana to refund or refinance outstanding indebtedness incurred by nonprofit colleges or universities in Indiana for the renovation, construction, acquisition, or equipping of educational facilities.(3) To establish liability or other loss insurance reserves or to contribute those insurance reserves or other capital to a risk retention group to provide insurance coverage against liability claims or other losses.(4) To provide the needed additional educational facilities for the public benefit and good.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-2. Applicability

Sec. 2. This chapter applies only to educational facilities and not to any other facilities financed by the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-3. Scope of Powers

Sec. 3. Except as otherwise expressly provided in this chapter, none of the powers granted to the authority under this chapter are subject to the supervision or regulation or require the approval or consent of:(1) any municipality or political subdivision;(2) any department, division, commission, board, body, bureau, official, or agency of any municipality or political subdivision; or(3) the state.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-4. Powers; Educational Facility Projects

Sec. 4. (a) The authority may determine the location and character of any educational facility project to be financed under this chapter.(b) The authority may construct, reconstruct, remodel, maintain, manage, enlarge, alter, add to, repair, operate, lease as lessee or lessor, regulate any educational facility project, or enter into contracts for any purpose stated in this section.(c) The authority may designate a nonprofit college or university as the authority's agent for purposes of this section.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-5. Rents and Charges

Sec. 5. The authority:(1) may require that the rates, rents, fees, or charges established by a nonprofit college or university are sufficient to discharge the institution's obligations to the authority; but(2) has no other jurisdiction over the rates, rents, fees, or charges.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-6. Rules for Projects

Sec. 6. The authority may:(1) establish rules for the use of an educational facility project or any part of an educational facility project; and(2) designate a nonprofit college or university as the authority's agent to establish rules for the use of an educational facility project undertaken for that nonprofit college or university.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-7. Loans

Sec. 7. (a) The authority may make loans to any nonprofit college or university for the cost of an educational facility project, including the establishment of liability or other loss insurance reserves or the contribution of those reserves to a risk retention group for the purpose of providing insurance coverage against liability claims or other losses in accordance with an agreement between the authority and the nonprofit college or university.(b) A loan authorized under this section may not exceed the total cost of the educational facility project as determined by the nonprofit college or university and approved by the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-8. Loans and Bonds

Sec. 8. (a) The authority may make loans to a nonprofit college or university to refund outstanding obligations or advances issued, made, or given by the nonprofit college or university for the cost of an educational facility project, including the establishment of liability or other loss insurance reserves or the contribution of those reserves to a risk retention group to provide insurance coverage against liability claims or other losses.(b) The authority may issue bonds and make loans to a nonprofit college or university to refinance indebtedness incurred or to reimburse advances made for educational facility projects undertaken before the date of the bond issue whenever the authority finds that the financing is in the public interest and:(1) alleviates a financial hardship upon the nonprofit college or university;(2) results in a lesser cost of education; or(3) enables the nonprofit college or university to offer greater security for a loan or loans to finance a new educational facility project or educational facility projects or to effect savings in interest costs or more favorable amortization terms.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-9. Costs

Sec. 9. The authority may charge to and apportion among nonprofit colleges or universities the authority's administrative costs and expenses incurred in the exercise of the powers and duties conferred by this chapter.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-10. Financing

Sec. 10. (a) The authority may, for financing purposes, combine an educational facility project or educational facility projects and some or all future educational facility projects of any nonprofit college or university or nonprofit colleges or universities if:(1) the authority obtains the consent of all of the nonprofit colleges or universities that are involved, or, when financing loans for the funding of liability or other loss insurance reserves or for the providing of those reserves or other capital to be contributed to a risk retention group, the authority obtains the consent of all of the eligible members that are involved; and(2) the money set aside in any fund or funds pledged for any series of bonds or issue of bonds is held for the sole benefit of a series or issue separate and apart from the money pledged for any other series or issue of bonds of the authority.(b) To facilitate the combining of educational facility projects, bonds may be issued in one (1) or more series under one (1) or more resolutions or trust agreements and be:(1) fully open ended, thus providing for unlimited issuance of additional series; or(2) partially open ended, limited as to additional series;all in the discretion of the authority.(c) Notwithstanding any provision of this chapter, the authority may permit a nonprofit college or university to substitute one (1) or more educational facilities of similar value (as determined by an independent appraiser satisfactory to the authority) as security for any educational facility financed under this chapter on the terms and conditions that the authority may prescribe.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-11 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-11. Mortgages

Sec. 11. The authority may mortgage all or any part of:(1) any educational facility project and any other educational facilities conveyed to the authority for an educational purpose; and(2) the site or sites of the facilities, whether presently owned or subsequently acquired;for the benefit of the holders of the bonds of the authority issued to finance an educational facility project or any portion of an educational facility project or issued to refund or refinance outstanding indebtedness of a nonprofit college or university as permitted by this chapter.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-12 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-12. Risk Retention

Sec. 12. The authority may join in a risk retention group with state educational institutions or any nonprofit college or university.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-13 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-13. Payment of Expenses

Sec. 13. All expenses incurred in carrying out this chapter are payable solely from funds provided under the authority of this chapter.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-14 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-14. Conveyance of Title

Sec. 14. The authority shall promptly take any action and execute any deeds and conveyances necessary and required to convey the title to an educational facility project or educational facility projects to the appropriate nonprofit college or university whenever:(1) the principal of and interest on bonds of the authority issued to finance the cost of an educational facility project or educational facility projects for a nonprofit college or university, including any refunding bonds issued to refund and refinance the bonds, have been fully paid and retired; or(2) adequate provision has been made to fully pay and retire bonds of the authority issued to finance the cost of an educational facility project or educational facility projects for a nonprofit college or university, all other conditions of the bond resolution have been satisfied, and the lien created by the bond resolution has been released in accordance with the provisions of the bond resolution.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-15 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-15. Income From Investments or Reserves or Sinking Funds; Allocation and Use

Sec. 15. Any income received from the investment of reserves or sinking funds must be applied in reduction of the rentals or other amounts paid by the nonprofit college or university or nonprofit colleges or universities for whose educational facility project or educational facility projects the reserves or sinking funds were created. Funds held as reserves or sinking funds when invested must be allocated to a specific educational facility project or educational facility projects of the institution for which the fund was created, and the income from the investment must be used to reduce the bonded indebtedness attributable to the educational facility project or educational facility projects.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-16 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-16. Leases

Sec. 16. (a) In connection with any lease entered into between the authority and any nonprofit college or university, the authority shall fix, revise, charge, and collect rents for the use of each educational facility project and contract with any person, partnership, association, limited liability company, or corporation, or other body, public or private, with respect to the educational facility project.(b) Each lease entered into by the authority with a nonprofit college or university must provide that the rents or other money payable by the nonprofit college or university is sufficient at all times:(1) to pay the private institution's share of the administrative costs and expenses of the authority;(2) to pay the principal of, the premium on (if any), and the interest on outstanding bonds of the authority issued in respect of the educational facility project as the bonds become due and payable; and(3) to create and maintain reserves that may be required or provided for in the bond resolution relating to the bonds of the authority.(c) The authority shall pledge the revenues derived and to be derived from an educational facility project for the purposes specified in subsection (b).As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.18.
IN Code § 5-1.2-8-17 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-17. Issuance of Bonds

Sec. 17. The authority may provide for the issuance of bonds of the authority:(1) to refund any bonds of the authority then outstanding, including the payment of any redemption premium on the bonds and any interest accrued or to accrue to the earlier or any subsequent date of redemption, purchase, or maturity of the bonds; and(2) if determined advisable by the authority, for the additional purpose of paying all or any part of the cost of constructing and acquiring additions, improvements, extensions, or enlargements of a project or any part of an addition, improvement, extension, or enlargement of an educational facility project. However, no refunding bonds may be issued unless the authority provides for the payment of rentals adequate to satisfy the requirements of section 13 of this chapter.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-18 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-18. Bonds; Use of Proceeds

Sec. 18. The proceeds of any bonds issued for the purpose of refunding outstanding bonds may, in the discretion of the authority:(1) be applied to the purchase or retirement at maturity or redemption of the outstanding bonds either on their earliest or any subsequent redemption date or upon the purchase or at the maturity of the outstanding bonds; and(2) pending the application of the proceeds, be placed in escrow to be applied to the purchase or retirement at maturity or redemption of the outstanding bonds on a date determined by the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-19 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-19. Escrowed Proceeds

Sec. 19. Any escrowed proceeds, pending use for the refunding of outstanding bonds, may be invested and reinvested in:(1) direct obligations of the United States of America; or(2) obligations having the timely payment of principal and interest unconditionally guaranteed by the United States of America;maturing at a time or times that are appropriate to assure the prompt payment of the principal and interest and redemption premium, if any, on the outstanding bonds to be refunded. Any interest, income, and profits earned or realized on any investment may also be applied to the payment of the outstanding bonds to be refunded. Only after the terms of the escrow have been fully satisfied and carried out, any balance of the proceeds and any interest, income, and profits earned or realized on the investments described in this section must be returned to the nonprofit college or university for use by the nonprofit college or university in any lawful manner.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-20 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-20. Bonds; Authority to Refund

Sec. 20. All bonds issued to refund outstanding bonds of the authority are subject to this chapter in the same manner and to the same extent as other bonds issued under this chapter.As added by P.L.189-2018, SEC.25.