reglab/housing_qa huggingface dataset:
IN Code § 5-1.2-8-21 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-21. Competitive Bidding Requirement

Sec. 21. Except as provided in IC 21-36-2, an educational facility project is not subject to any statutory requirement of competitive bidding or other restriction imposed on the procedure for award of contracts or the lease, sale, or other disposition of property with regard to any action taken under authority of this chapter. If, however, the prospective lessee makes a request in writing, the authority shall call for the construction bids in the manner determined by the authority with the approval of the lessee.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-22 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-22. Powers of Authority; Financing

Sec. 22. Notwithstanding any other provision of this chapter, the authority may:(1) finance the cost of an educational facility or refund outstanding indebtedness of a nonprofit college or university, as authorized under section 8 of this chapter; or(2) finance the establishment of liability or other loss insurance reserves or the contribution of reserves or other capital to a risk retention group to provide insurance coverage against liability claims or other losses;by issuing the authority's bonds for the purpose of loaning the proceeds to a nonprofit college or university for the cost of a project or to refund or refinance outstanding indebtedness or reimburse advances made in connection with a project in accordance with an agreement between the authority and the institution and in exchange for the institution's promissory note or notes.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-23 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-23. Promissory Notes

Sec. 23. (a) Any promissory notes received under section 22 of this chapter:(1) must have the same principal amounts, maturities, and interest rates as the bonds being issued;(2) may be secured by a first mortgage lien on the educational facility being financed or by a first mortgage lien on or security interest in other real or personal property or funds acceptable to the authority subject to any exceptions that the authority may approve and created by a mortgage instrument or security agreement satisfactory to the authority; and(3) may be insured or guaranteed by others.(b) Any bonds described in section 22 of this chapter must be payable solely out of the payments to be made on the promissory notes and under the corresponding agreement. Any bonds described in section 22 of this chapter may not exceed in principal amount the cost of the educational facility, as determined by the nonprofit college or university, or the necessary amount of these liability or other loss insurance reserves, and approved by the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-24 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-24. Mortgages

Sec. 24. If an educational facility is financed and mortgaged under sections 22 and 23 of this chapter:(1) the title to the facility must remain in the nonprofit college or university owning the facility, subject to the lien of the mortgage securing the promissory notes then being purchased; and(2) there may not be a lease of the facility between the authority and the institution.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-8-25 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 8. Educational Facility Financing|5-1.2-8-25. Powers of Authority; Restrictions

Sec. 25. Section 15 of this chapter does not apply to any educational facility or any liability or loss insurance reserves financed under this section and sections 22 through 24 of this chapter. However, the authority shall return the promissory notes purchased through the issuance of bonds to the nonprofit college or university issuing the promissory notes when:(1) the bonds have been fully paid and retired or adequate provision has been made to pay and retire the bonds fully;(2) all other conditions of the trust agreement or indenture creating the bonds have been satisfied; and(3) the lien has been released in accordance with the provisions of the instrument creating the lien.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-1. Purposes of This Chapter

Sec. 1. The general purpose of this chapter is to provide financing for economic development projects.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-2. Applicability

Sec. 2. This chapter applies only to economic development projects and not to any other facilities or projects financed by the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-3. Public Offering for Sale or Lease of Property

Sec. 3. The authority may, instead of a private sale or leasing as authorized by IC 5-1.2-4-1(a) or a financing of an economic development project under section 12 of this chapter, decide to hold a public offering under this chapter for the sale or leasing of any land or interests in land, building improvements, structures, personal property, and franchises and patents acquired by the authority under this article for an economic development project. If the authority decides to hold a public offering for the sale or leasing of any property or interests acquired for an economic development project, the offering shall be made in accordance with this chapter.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-4. Public Offering; Requirements; Offering Sheet

Sec. 4. Before offering for sale or lease to the public any property or interests acquired for an economic development project, the authority shall prepare an offering sheet showing the property or interests to be offered and copies of the offering sheets shall be furnished to prospective buyers or lessees. Maps and plats of the property and any additional information considered appropriate by the authority shall also be kept available for inspection at the office of the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-5. Notice

Sec. 5. The authority shall publish a notice of the offering in accordance with IC 5-3-1. The notice must state that at a designated time the authority will open and consider written offers for the purchase or lease of the property or interests being offered. In giving the notice, it is not necessary to describe specifically the property or interests or to specify the exact terms of the disposition, but the notice must state the general location of the property or interests and call attention generally to any requirements or limitations that the authority may establish in respect to the economic development project.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-6. Offers

Sec. 6. At the time fixed in the notice, the authority shall open and consider any offers received. All offers received shall be opened at public meetings of the authority and shall be kept open for public inspection.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-7. Award to Highest and Best Bidder; Factors That May Be Considered; Rejection

Sec. 7. The authority may reject any or all bids or may make awards to the highest and best bidder or bidders. In determining the highest and best bids, the authority may take into consideration the following:(1) The size and character of the improvements for the economic development project as proposed by the bidder to be made on the property and the terms and conditions of the consideration offered by the bidder.(2) The bidder's plans and ability to carry out the economic development project with reasonable promptness.(3) Whether the property and interests to be acquired by the bidder will be leased or released for the economic development project.(4) The nature and extent of any obligations to be undertaken by the authority in conjunction with the improvement of the property or interests to be acquired for the economic development project as proposed by the bidder.(5) The potential impact of the bidder's proposal on the creation of new employment or the retention of existing employment resulting from the economic development project.(6) The potential impact of the bidder's proposal to attract or establish a major new business enterprise or to retain or expand a significant existing business enterprise that will provide or preserve gainful employment for the citizens of the state.(7) The economic benefits to the state and its citizens that will result from the economic development project, as proposed by the bidder, including the dollar volume of new or preserved wages and salaries, increases in or preservation of state and local government tax revenues, the incremental economic benefits to the citizens of the state, the state, and local governmental units potentially resulting from the economic development project as proposed by the bidder, and any other direct or indirect economic benefit to the state and its citizens resulting from the economic development project as proposed by the bidder.(8) The potential impact and benefit to the state and its citizens of the economic development project as proposed by the bidder from the standpoint of both human and economic welfare.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-8. Cost Benefit Analyses

Sec. 8. In making an award to the highest and best bidder as provided in section 7 of this chapter, the authority shall determine whether in its judgment the potential benefits to the state and its citizens of the economic development project as proposed by the bidder exceed the direct costs to the authority of acquiring the property and interests being offered for sale or lease for the economic development project less any sums to be paid by the successful bidder pursuant to its bid. The authority's judgment concerning this determination shall be based on the economic studies, analyses, and projections that the authority determines are reasonably necessary. The authority's determination is final and conclusive.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-9. Contracts With a Bidder; Provisions

Sec. 9. The authority may contract with a bidder concerning any of the factors listed in section 7 of this chapter, and the contract may provide for the deposit of surety bonds, the making of good faith deposits, liquidated damages, the right of reversion or repurchase, or other rights and remedies if the bidder fails to comply with the contract.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-10. Sale, Exchange, or Lease of Property; Terms; Time Period

Sec. 10. After the opening, consideration, and determination of the written offers filed in response to the notice, the authority may dispose of all or part of the remaining available property or interests for any approved use, either at public sale or by private negotiation carried on by the authority, its regular employees, or real estate experts employed for that purpose. For a period of thirty (30) days after the opening of the written offers and determination on them, no sale, exchange, or lease may be made on terms less than that shown on the offering sheet, but after that period the authority may adjust the offering terms the authority considers necessary to further the economic development project.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-11 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-11. Action to Contest Validity

Sec. 11. An action to contest the validity of any sale or lease awarded and approved by the authority under this section may not be commenced more than thirty (30) days following the authority's adoption of a resolution designating the successful bidder or bidders and stating and approving the basic terms and conditions of the sale or lease.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-12 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-12. Negotiation of Financing Agreements; Considerations; Expenses

Sec. 12. The authority may enter into negotiations with one (1) or more persons concerning the terms and conditions of financing agreements for economic development projects. The authority shall consider whether a proposed economic development project may have an adverse competitive effect on similar economic development projects already constructed or operating in the local governmental unit where the economic development project will be located. Preliminary expenses in connection with negotiations under this section may be paid from:(1) money furnished by the proposed user or developer;(2) money made available by the state or federal government, or by any of their departments or agencies; or(3) money of the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-13 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-13. Report for Proposed Economic Development Project; Plan Commission; School Superintendent

Sec. 13. The authority shall prepare a report that:(1) briefly describes the proposed economic development project;(2) estimates the number and expense of public works or services that would be made necessary or desirable by the proposed economic development project, including public ways, schools, water, sewers, street lights, and fire protection;(3) estimates the total costs of the proposed economic development project;(4) for an economic development project that is not exclusively either a pollution control facility or an educational facility project, estimates the number of jobs and the payroll to be created or saved by the project;(5) for educational facility projects, describes how the project promotes the educational enrichment (including cultural, intellectual, scientific, or artistic opportunities) of the people of the state; and(6) for pollution control facilities, describes the facilities and how they will abate, reduce, or prevent pollution.The report shall be submitted to the executive director or chair of the plan commission, if any, having jurisdiction over the economic development project and, if the number of new jobs estimated exceeds one hundred (100), to the superintendent of the school corporation where the economic development project will be located. The executive director or chair of the plan commission and the school superintendent may formulate their written comments concerning the report and transmit their comments, if any, to the authority within five (5) days after the receipt of the report.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-14 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-14. Public Hearing

Sec. 14. The authority shall hold a public hearing, which may be conducted by the authority, or any officer, member, or agent designated by the authority, on the proposed financing agreement for the economic development project, after giving notice by publication in one (1) newspaper of general circulation in the city, town, or county where the economic development project is to be located at least ten (10) days in advance of this public hearing.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-15 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-15. Approval of Proposed Financing Agreement

Sec. 15. If the authority finds that the economic development project will be of benefit to the health, safety, morals, and general welfare of the area where the economic development project is to be located, and complies with the purposes and provisions of this chapter, the authority may by resolution approve the proposed financing agreement.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-16 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-16. Financing Agreement; Payment Provisions

Sec. 16. A financing agreement approved under this chapter must provide for payments in an amount sufficient to pay the principal of, premium for (if any), and interest on the bonds authorized for the financing of the economic development project. However, interest payments for the anticipated construction period, plus a period of not more than one (1) year, may be funded in the bond issue.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-17 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-17. Financing Agreement; Limit on Term of an Agreement

Sec. 17. The term of a financing agreement may not exceed fifty (50) years from the date of any bonds issued under the financing agreement. However, a financing agreement does not terminate after fifty (50) years if a default under that financing agreement remains uncured, unless the termination is authorized by the terms of the financing agreement.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-18 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-18. Financing Agreement; Requirement for User or Developer to Pay Costs if Authority Retains an Interest in the Project

Sec. 18. If the authority retains an interest in the economic development project, the financing agreement must require the user or the developer to pay all costs of maintenance, repair, taxes, assessments, insurance premiums, trustee's fees, and any other expenses relating to the economic development project, so that the authority will not incur any expenses on account of the economic development project other than those that are covered by the payments provided for in the financing agreement.As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.19.
IN Code § 5-1.2-9-20 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-20. Requirements That Must Be Complied With Before Entering Into a Financing Agreement

Sec. 20. As each unidentified economic development project is identified for possible funding from a program under section 19(11) of this chapter, the requirements of sections 12, 13, 14, 15, and 16 of this chapter shall be complied with as a condition precedent to entering into a financing agreement for the funding of the economic development project.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-21 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-21. Bonds Not General Obligation of the State

Sec. 21. Bonds issued to fund a program under this chapter are not in any respect a general obligation of the state, nor are they payable in any manner from revenues raised by taxation.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-22 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-22. Taxable Bonds; Payment Provisions

Sec. 22. Any resolution adopted to authorize the issuance of taxable bonds to fund a program under section 19(11) of this chapter may provide that the bonds are payable solely from:(1) revenues and receipts derived from the various financing agreements; or(2) the payments made under any other agreements to secure the obligations of the developers, users, related persons, or the authority.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-23 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-23. Power to Engage in Financing Activities; Purchase of a Loan

Sec. 23. (a) The authority may invest in, purchase or make commitments to invest in or purchase, and take assignments or make commitments to take assignments of, loans made for the acquisition, construction, installation, rehabilitation, or purchase of economic development projects.(b) Before investment, purchase, assignment, or commitment, the lender shall certify that the proceeds of the authority's bonds will be used to make loans to provide financing for economic development projects, or pending the making of the loan, invested in short term obligations complying with the requirements of this article.(c) The authority shall purchase a loan at a purchase price equal to the outstanding principal balance, but the authority may require a discount from the principal balance or make a payment of a premium to effect a fair rate of return for the lender, as determined by the rate of return on comparable investments under market conditions existing at the time of purchase.(d) In addition to the payment of the outstanding principal balance, the authority shall pay the accrued interest due on the loan, on the date the loan is delivered against payment for the loan or on another date as may be established by agreement between the authority and the selling lender.As added by P.L.189-2018, SEC.25.
IN Code § 5-1.2-9-24 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.2. Indiana Finance Authority|Chapter 9. Economic Development Projects|5-1.2-9-24. Lender Certifications

Sec. 24. Before exercising any of the powers authorized in section 23 of this chapter, the authority shall require the lender to certify and agree that:(1) the loan is, or, if the loan has not been made, will be, at the time of making, in all respects a prudent investment; and(2) the lender will make the loan and sell the loan to the authority within a reasonable period of time.As added by P.L.189-2018, SEC.25.