reglab/housing_qa huggingface dataset:
IN Code § 5-1.4-8-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 8. Purchase of Securities of Qualified Entities|5-1.4-8-2. Securities to Be Purchased and Held in Name of Bank; Required Documentation

Sec. 2. (a) All securities at any time purchased, held, or owned by the bank shall at all times be purchased and held in the name of the bank.(b) All securities at any time purchased by the bank, upon delivery to the bank, shall be accompanied by all documentation required by the board. The documentation must include an approving opinion of recognized bond counsel, certification and guarantee of signatures, and certification as to no litigation pending as of the date of delivery of the securities challenging the validity or issuance of the securities.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-8-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 8. Purchase of Securities of Qualified Entities|5-1.4-8-3. Contracts With Bank for Purchase of Securities; Terms and Conditions; Fees and Charges; Denomination; Prices; Private Sale

Sec. 3. Every qualified entity is authorized and empowered to contract with the bank with respect to the purchase of its securities, and the contracts shall contain the terms and conditions of the purchase and may be in any form agreed to by the bank and the qualified entity, including a customary form of bond ordinance or resolution. Every qualified entity is authorized and empowered to pay fees and charges required to be paid to the bank for its services. Notwithstanding any statute applicable to or constituting any limitation on the sale of bonds or notes, any qualified entity may sell its securities to the bank, without limitation as to denomination, at a private sale at such price or prices as may be determined by the bank and the qualified entity.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-8-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 8. Purchase of Securities of Qualified Entities|5-1.4-8-4. Agreement With Bank; Waiver of Statutory Defenses to Nonpayment; Rights and Remedies of Bank

Sec. 4. Upon the sale and delivery by a qualified entity of any securities to the bank, the qualified entity shall be deemed to have agreed that upon its failure to pay interest or principal on the securities owned or held by the bank when payable, all statutory defenses to nonpayment are waived. Upon nonpayment and demand on the qualified entity for payment, if the securities are payable from property taxes and funds are not available in the treasury of the qualified entity to make payment, an action in mandamus for the levy of a tax to pay the interest and principal on the securities shall lie, and the bank shall be constituted a holder or owner of the securities as being in default. The bank may thereupon avail itself of all remedies, rights, and provisions of law applicable in the circumstances, and the failure to exercise or exert any rights or remedies within a time or period provided by law may not be raised as a defense by the qualified entity. The bank may carry out this section and exercise all the rights, remedies, and provisions of law provided or referred to in this section.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-8-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 8. Purchase of Securities of Qualified Entities|5-1.4-8-5. Bond Anticipation Notes of Qualified Entities; Purchase by Bank; Renewal or Extension; Maturity; Terms and Conditions

Sec. 5. (a) Notwithstanding any law applicable to a qualified entity concerning the issuance of bonds, a qualified entity that has complied with all statutory requirements for the issuance of its bonds may (in lieu of issuing bonds at that time and without complying with any other law applicable to the issuance of bonds, notes, or other evidences of indebtedness) issue to the bank the qualified entity's notes in anticipation of the issuance of bonds, and the bank may purchase these bond anticipation notes. The bond anticipation notes may be issued on terms set forth in a resolution authorizing their issuance and in any amount equal to or less than the amount of bonds authorized to be issued.(b) The qualified entity may renew or extend the bond anticipation notes from time to time on terms agreed to with the bank, and the bank may purchase these renewals or extensions. The amount of the 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 so long as the aggregate principal amount of bond anticipation notes outstanding at any time does not exceed the maximum principal amount permitted by this section.(c) The bond anticipation notes of the qualified entity, including any renewals or extensions, must mature in the amounts and at the times (not exceeding five (5) years from the date of the original issuance of the bond anticipation notes) as are agreed to by the qualified entity and the bank. The bond anticipation notes shall be, and interest thereon may be, finally paid with the proceeds of the bonds issued by the qualified entity. In connection with the issuance of bonds part or all of the proceeds of which shall be used to retire the bond anticipation notes, the qualified entity is not required to repeat the procedures for the issuance of bonds because the procedures followed before the issuance of the bond anticipation notes are for all purposes sufficient to authorize the issuance of such bonds.(d) In connection with the purchase of bond anticipation notes, the bank may by agreement with the qualified entity impose any terms, conditions, and limitations as in its opinion are proper for the security of the bank and the holders of its bonds or notes. If the qualified entity fails to comply with the agreement or to issue its bonds to retire its bond anticipation notes, the bank may enforce all rights and remedies provided in the agreement or at law, including an action in mandamus to compel the issuance of bonds by the qualified entity.As added by P.L.42-1985, SEC.1. Amended by P.L.29-1986, SEC.21.
IN Code § 5-1.4-8-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 8. Purchase of Securities of Qualified Entities|5-1.4-8-6. Notes of Qualified Entities; Purchase by Bank; Renewal or Extension; Maturity; Compliance With Other Laws; Terms and Conditions

Sec. 6. (a) Notwithstanding any other law applicable to a qualified entity as to borrowing money, a qualified entity may issue and sell its notes to the bank, and the bank may purchase these notes. The notes must be issued pursuant to a resolution of the qualified entity, and the proceeds must be applied to costs for which the qualified entity may issue bonds.(b) The qualified entity may renew or extend the notes from time to time on terms agreed to with the bank, and the bank may purchase these renewals or extensions. The amount of 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.(c) The notes of the qualified entity, including any renewals or extensions, must mature in the amounts and at the times (not exceeding two (2) years from the date of original issuance) as are agreed to by the qualified entity and the bank. However, the legislative body of the city in the case of a qualified entity defined in IC 5-1.4-1-10(1) through (3) or the governing body of the qualified entity in the case of a qualified entity defined in IC 5-1.4-1-10(4) through (6), by resolution, may authorize an extension of the maturity beyond two (2) years for an additional period of no more than three (3) years. Any such extension may be authorized in the resolution originally authorizing issuance of the notes. The notes of the qualified entity and accrued interest thereon shall be paid with proceeds from the issuance of its bonds, when and if the bonds are issued, or other money available to the qualified entity, which money the qualified entity may pledge to the payment of its notes.(d) Compliance with this section constitutes full authority for a qualified entity to issue its notes and sell them to the bank, and the qualified entity is not required to comply with any other law applicable to the authorization, approval, issuance, and sale of bonds, notes, or other evidences of indebtedness. However, if the qualified entity decides to issue bonds, neither the provisions of this section nor the actual issuance by a qualified entity of its notes shall relieve the qualified entity of completing the requirements for the issuance of its bonds all or part of the proceeds of which will be used to retire the notes.(e) In connection with the purchase of notes, the bank may by agreement with the qualified entity impose any terms, conditions, and limitations as in its opinion are proper for the security of the bank and the holders of its bonds or notes. If the qualified entity fails to comply with the agreement or to retire its notes, the bank may enforce all rights and remedies provided in the agreement or at law.As added by P.L.42-1985, SEC.1. Amended by P.L.29-1986, SEC.22; P.L.46-1987, SEC.2.
IN Code § 5-1.4-9-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-1. Limitation of Actions

Sec. 1. (a) No action to contest the validity of any bonds or notes of the bank may be brought after the fifteenth day following the adoption of the resolution authorizing the sale of the bonds or notes. No action to contest the validity of any bond sale under this chapter may be brought after the fifth day following the bond sale.(b) If an action challenging the bonds or notes of the bank is not brought within the time prescribed by subsection (a), all bonds or notes of the bank shall be conclusively presumed to be fully authorized and issued under the laws of Indiana, and a person or a qualified entity is estopped from questioning their authorization, sale, issuance, execution, or delivery by the bank.(c) Insofar as this article is inconsistent with the provisions of any other law, general, special, or local, this article shall be controlling.As added by P.L.42-1985, SEC.1. Amended by P.L.2-1989, SEC.13.
IN Code § 5-1.4-9-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-2. Bank Property Exempt From Levy and Sale; Judgment Against Bank Not Charge or Lien on Property; Rights of Holders of Bonds or Notes

Sec. 2. All property of the bank is exempt from levy and sale by virtue of an execution and no execution or other judicial process may issue against the property. A judgment against the bank may not be a charge or lien upon its property. However, nothing in this section applies to or limits the rights of the holder of bonds or notes to pursue a remedy for the enforcement of a pledge or lien given by the bank on its revenues or other money.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-9-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-3. Pledge of Revenues or Money

Sec. 3. A pledge of revenues or other money made by the bank is binding from the time the pledge is made. Revenues or other money pledged and thereafter received by the bank are immediately subject to the lien of the pledge without any further act, and the lien of a pledge is binding against all parties having claims of any kind in tort, contract, or otherwise against the bank, regardless of whether the parties have notice of the lien. Neither the resolution nor any other instrument by which a pledge is created needs to be filed or recorded except in the records of the bank.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-9-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-4. Insurance or Guaranty for Payment

Sec. 4. The bank may obtain from a department or agency of the United States or a nongovernmental insurer available insurance or guaranty for the payment or repayment of interest or principal, or both, or any part of interest or principal, on bonds or notes issued by the bank or on securities purchased or held by the bank.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-9-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-5. Authority to Receive Appropriations or Grants From Federal Government; Disposition

Sec. 5. The chairman of the board of the bank is authorized to receive from the United States or any department or agency thereof any amount of money as and when appropriated, allocated, granted, turned over, or in any way provided for the purposes of the bank or this article. Those amounts shall, unless otherwise directed by the federal authority, be credited to and deposited in the general fund and be available to the bank.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-9-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-6. Undertaking by Financial Institution to Keep and Pay Over Funds Deposited With It

Sec. 6. (a) A financial institution may give to the bank a good and sufficient undertaking, with such sureties as are approved by the bank, to the effect that the financial institution shall faithfully keep and pay over to the order of or upon the warrant of the bank or its authorized agent all those funds deposited with it by the bank and agreed interest, at such times or upon such demands as may be agreed with the bank. However, in lieu of these sureties, the financial institution may deposit with the bank or its authorized agent or a trustee for the holders of bonds, as collateral, those securities as the board may approve.(b) The deposits of the bank may be evidenced by an agreement in the form and upon the terms and conditions that may be agreed upon by the bank and the financial institution.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-9-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-7. Agreements With Financial Institutions; Care and Custody of Securities or Other Investments

Sec. 7. The board may enter into agreements or contracts with a financial institution inside or outside the state as may be necessary, desirable, or convenient in the opinion of the board for rendering services in connection with the care, custody, or safekeeping of securities or other investments held or owned by the bank, for rendering services in connection with the payment or collection of amounts payable as to principal or interest, and for rendering services in connection with the delivery to the bank of securities or other investments purchased by it or sold by it and to pay the cost of those services. The board may also, in connection with any of the services to be rendered by a financial institution as to the custody and safekeeping of its securities or investments, require security in the form of collateral bonds, surety agreements, or security agreements in such form and amount as, in the opinion of the board, is necessary or desirable.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-9-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-8. Financial Institutions and Fiduciaries; Investment in Bonds or Notes

Sec. 8. Notwithstanding the restrictions of any other law, all financial institutions, investment companies, insurance companies, insurance associations, executors, administrators, guardians, trustees, and other fiduciaries may legally invest sinking funds, money, or other funds belonging to them or within their control in bonds or notes issued under this article.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-9-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-9. Nature of Bank Property; Bonds and Notes; Exemption From Taxation

Sec. 9. All property of the bank is public property devoted to an essential public and governmental function and purpose and is exempt from all taxes and special assessments of the state or a political subdivision of the state. All bonds or notes issued under this article are issued by a body corporate and public of this state, but not a state, city, or county agency, and for an essential public and governmental purpose. The bonds and notes, the interest thereon, the proceeds received by a holder from the sale of the bonds or notes to the extent of the holder's cost of acquisition, proceeds received upon redemption before maturity, proceeds received at maturity, and the receipt of the interest and proceeds shall be exempt from taxation in the state for all purposes except the financial institutions tax imposed under IC 6-5.5.As added by P.L.42-1985, SEC.1. Amended by P.L.21-1990, SEC.5; P.L.254-1997(ss), SEC.5; P.L.79-2017, SEC.8.
IN Code § 5-1.4-9-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-10. Officers and Departments of State; Rendering of Services to Bank; Costs and Expenses

Sec. 10. All officers, departments, boards, agencies, divisions, and commissions of the city shall render services to the bank that are within the area of their respective governmental functions and that may be requested by the board and must comply promptly with any reasonable request by the board relating to the making of a study or review as to desirability, need, cost, expense, or financial feasibility with respect to a public project, purpose, or improvement, or the financial or fiscal responsibility or ability of a qualified entity making application for the purchase by the bank of securities to be issued by that qualified entity. The cost and expense of a service requested by the board, at the request of the officer, department, board, agency, division, or commission rendering the service, shall be paid by the bank.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.4-9-11 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.4. Local Public Improvement Bond Banks|Chapter 9. Miscellaneous Provisions|5-1.4-9-11. Dissolution of Bank; Assets and Property of Bank

Sec. 11. Upon the dissolution of the bank, all interest in the assets and property of the bank reverts to the city.As added by P.L.42-1985, SEC.1.
IN Code § 5-1.5-1-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.5. Indiana Bond Bank|Chapter 1. Definitions|5-1.5-1-1. Application

Sec. 1. The definitions in this chapter apply throughout this article.As added by P.L.25-1984, SEC.1.
IN Code § 5-1.5-1-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.5. Indiana Bond Bank|Chapter 1. Definitions|5-1.5-1-2. "Bank"

Sec. 2. "Bank" refers to the Indiana bond bank established under IC 5-1.5-2-1.As added by P.L.25-1984, SEC.1.
IN Code § 5-1.5-1-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.5. Indiana Bond Bank|Chapter 1. Definitions|5-1.5-1-3. "Board"

Sec. 3. "Board" refers to the board of directors established under IC 5-1.5-2-2.As added by P.L.25-1984, SEC.1.
IN Code § 5-1.5-1-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.5. Indiana Bond Bank|Chapter 1. Definitions|5-1.5-1-4. "Bond"

Sec. 4. "Bond" means a bond of the bank issued under this article.As added by P.L.25-1984, SEC.1.
IN Code § 5-1.5-1-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.5. Indiana Bond Bank|Chapter 1. Definitions|5-1.5-1-5. "Financial Institution"

Sec. 5. "Financial institution" means a financial institution as defined in IC 28-1-1.As added by P.L.25-1984, SEC.1.
IN Code § 5-1.5-1-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.5. Indiana Bond Bank|Chapter 1. Definitions|5-1.5-1-6. "Holder"

Sec. 6. "Holder" means a person who is:(1) the bearer of any outstanding bond or note registered to bearer or not registered; or(2) the registered owner of any outstanding bond or note that is registered other than to bearer.As added by P.L.25-1984, SEC.1.
IN Code § 5-1.5-1-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.5. Indiana Bond Bank|Chapter 1. Definitions|5-1.5-1-7. "Note"

Sec. 7. "Note" refers to a note of the bank issued under this article.As added by P.L.25-1984, SEC.1.
IN Code § 5-1.5-1-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.5. Indiana Bond Bank|Chapter 1. Definitions|5-1.5-1-8. "Qualified Entity"

Sec. 8. "Qualified entity" means:(1) a political subdivision (as defined in IC 36-1-2-13);(2) a state educational institution;(3) a leasing body (as defined in IC 5-1-1-1(a));(4) a not-for-profit utility (as defined in IC 8-1-2-125);(5) any rural electric membership corporation organized under IC 8-1-13;(6) any corporation that was organized in 1963 under Acts 1935, c. 157 and that engages in the generation and transmission of electric energy;(7) any communications cooperative corporation formed under IC 8-1-17;(8) any commission, authority, or authorized body of any qualified entity;(9) any organization, association, or trust with members, participants, or beneficiaries that are all individually qualified entities;(10) any commission, authority, or instrumentality of the state;(11) any other participant (as defined in IC 5-1.2-2-54);(12) a charter school established under IC 20-5.5 (before its repeal) or IC 20-24 that is not a qualified entity under IC 5-1.4-1-10;(13) a volunteer fire department (as defined in IC 36-8-12-2); or(14) a development authority (as defined in IC 36-7.6-1-8).As added by P.L.25-1984, SEC.1. Amended by P.L.43-1985, SEC.1; P.L.46-1987, SEC.3; P.L.48-1989, SEC.1; P.L.37-1991, SEC.1; P.L.132-1999, SEC.1; P.L.179-2002, SEC.2; P.L.50-2003, SEC.1; P.L.2-2007, SEC.70; P.L.232-2007, SEC.1; P.L.189-2018, SEC.27; P.L.81-2020, SEC.1.
IN Code § 5-1.5-1-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.5. Indiana Bond Bank|Chapter 1. Definitions|5-1.5-1-9. "Reserve Fund"

Sec. 9. "Reserve fund" means a reserve fund established under IC 5-1.5-5-1.As added by P.L.25-1984, SEC.1. Amended by P.L.43-1985, SEC.2.
IN Code § 5-1.5-1-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 1.5. Indiana Bond Bank|Chapter 1. Definitions|5-1.5-1-10. "Security"

Sec. 10. "Security" means:(1) a bond, note, or evidence of indebtedness issued by a qualified entity;(2) a lease or certificate or other evidence of participation in the lessor's interest in and rights under a lease with a qualified entity;(3) an obligation of a qualified entity under an agreement between the qualified entity and the bank;(4) an agreement executed by a qualified entity under IC 20-49-4 or IC 20-49-10; or(5) an assignment agreement executed by a qualified entity under IC 5-1.5-8-5.1(b)(1).As added by P.L.25-1984, SEC.1. Amended by P.L.43-1985, SEC.3; P.L.30-1986, SEC.1; P.L.46-1987, SEC.4; P.L.28-1992, SEC.1; P.L.2-2006, SEC.9; P.L.259-2019, SEC.3.