reglab/housing_qa huggingface dataset:
IN Code § 5-20-2-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 2. Financing of Housing|5-20-2-10. Signatures of Officers on Bonds; Validity of Bonds

Sec. 10. Signatures of Officers on Bonds─Validity of Bonds. The bonds and any coupons shall bear the manual or facsimile signatures of the executive officer and the recording officer of the county or municipality and any coupons shall bear the facsimile signature of one (1) or more of these officers. These signatures shall be the valid and binding signatures of these officers, notwithstanding that before delivery and payment, any or all of the individuals whose signatures appear have ceased to be officers of the county or municipality issuing the bonds. The validity of the bonds is not dependent on nor affected by the validity or regularity of any proceedings relating to the home mortgages for which the bonds are issued. The ordinance authorizing the bonds may provide that the bonds shall contain a recital that they are issued pursuant to this chapter, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.As added by Acts 1979, P.L.47, SEC.1. Amended by Acts 1981, P.L.62, SEC.9.
IN Code § 5-20-2-11 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 2. Financing of Housing|5-20-2-11. Lien of Bonds

Sec. 11. Lien of Bonds. Bonds issued under this chapter and the interest on them may be secured by a pledge of or lien upon the revenues and receipts derived from or in connection with the home mortgages or from any notes or other obligations of lending institutions with respect to which the bonds have been issued. The governing body may provide in the ordinance authorizing the bonds for the issuance of additional bonds to be equally and ratably secured by a lien upon these revenues and receipts.As added by Acts 1979, P.L.47, SEC.1.
IN Code § 5-20-2-12 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 2. Financing of Housing|5-20-2-12. Liability for Bonds

Sec. 12. Liability for Bonds. All bonds issued under this chapter and the interest on them are limited obligations of the county or municipality payable solely from the revenues and receipts derived from or in connection with the home mortgages, from any notes or other obligations of lending institutions with respect to which these bonds are issued, or from the proceeds of these bonds or refunding bonds and the investment income from them. No holder of any bonds issued under this chapter has the right to compel any exercise of the taxing power of the county or municipality to pay the bonds or the interest or redemption premium, if any, thereon. The bonds are not an indebtedness of the county or municipality or a loan of its credit within the meaning of any constitutional or statutory limitation. Nor shall the bonds be construed to create any moral obligation on the part of the county or municipality with respect to their payment. It shall be plainly stated on the face of each bond that it has been issued under the provisions of this chapter and that it does not constitute an indebtedness of the county or municipality or a loan of its credit within the meaning of any constitutional or statutory limitation.As added by Acts 1979, P.L.47, SEC.1. Amended by Acts 1981, P.L.62, SEC.10.
IN Code § 5-20-2-13 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 2. Financing of Housing|5-20-2-13. Exemption From Contract and Bidding Requirements; Real Property Bid Submitted by Trust

Sec. 13. (a) A requirement of competitive bidding or restriction imposed on the procedure for award of contracts for the sale or other disposition of property of the county or municipality is not applicable to any action taken under this chapter.(b) This subsection applies if a county or municipality sells or disposes of real property under this chapter by acceptance of bids. A bid submitted by a trust (as defined in IC 30-4-1-1(a)) must identify each:(1) beneficiary of the trust; and(2) settlor empowered to revoke or modify the trust.As added by Acts 1979, P.L.47, SEC.1. Amended by Acts 1981, P.L.62, SEC.11; P.L.336-1989(ss), SEC.17.
IN Code § 5-20-2-14 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 2. Financing of Housing|5-20-2-14. Tax Exemption for Bonds

Sec. 14. All bonds and interim receipts or certificates, proceeds received by a holder from the sale of them to the extent of the holder's cost of acquisition, proceeds received upon redemption prior to maturity, proceeds received at maturity, and interest thereon, are exempt from taxation in the state of Indiana for all purposes except the financial institutions tax imposed under IC 6-5.5.As added by Acts 1979, P.L.47, SEC.1. Amended by P.L.21-1990, SEC.8; P.L.254-1997(ss), SEC.7; P.L.79-2017, SEC.10.
IN Code § 5-20-2-15 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 2. Financing of Housing|5-20-2-15. Tax Exemption

Sec. 15. Tax Exemption. All home mortgages and notes or other obligations of lending institutions executed pursuant to this chapter and the revenues and receipts derived by a county or municipality therefrom are exempt from all taxation in the state of Indiana.As added by Acts 1979, P.L.47, SEC.1. Amended by Acts 1981, P.L.62, SEC.12.
IN Code § 5-20-2-16 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 2. Financing of Housing|5-20-2-16. Securities Exemption

Sec. 16. All bonds and interim receipts or certificates authorized pursuant to this chapter are exempt from the provisions of IC 23-19 or other securities registration laws.As added by Acts 1979, P.L.47, SEC.1. Amended by P.L.27-2007, SEC.5.
IN Code § 5-20-2-17 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 2. Financing of Housing|5-20-2-17. Antitrust Exemption

Sec. 17. Antitrust Exemption. Transactions under this chapter are exempt from the provisions of IC 24-1 or any other antitrust law, present or future, of the state.As added by Acts 1979, P.L.47, SEC.1.
IN Code § 5-20-2-18 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 2. Financing of Housing|5-20-2-18. Powers Conferred as Additional and Supplemental; Limitations Imposed; Effect

Sec. 18. Powers Conferred as Additional and Supplemental; Limitations Imposed-Effect. The powers conferred by this chapter are in addition and supplemental to, and the limitations imposed by this chapter shall not affect, the powers conferred by any other law of this state. Mortgages may be acquired, purchased and financed, and bonds may be issued under this chapter, notwithstanding that any other law may provide for the acquisition, purchase and financing of like home mortgages, or the issuance of bonds for like purposes, and without regard to the requirements, restrictions, limitations or other provisions contained in any other law.As added by Acts 1979, P.L.47, SEC.1.
IN Code § 5-20-3-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 3. Mutual Housing Associations|5-20-3-1. "Families of Low and Moderate Income" Defined

Sec. 1. As used in this chapter, "families of low and moderate income" has the meaning set forth in IC 5-20-1-2.As added by P.L.69-1989, SEC.3.
IN Code § 5-20-3-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 3. Mutual Housing Associations|5-20-3-2. "Housing Project" Defined

Sec. 2. (a) As used in this chapter, "housing project" means any work or undertaking to provide decent, safe, and sanitary urban or rural dwellings, apartments, or other living accommodations for families of low and moderate income, including:(1) buildings, land, equipment, facilities, and other real or personal property for necessary, convenient, or desirable appurtenances, streets, sewers, water service, parks, site preparation, gardening, administrative, community, recreational, commercial, or welfare purposes; and(2) the acquisition and rehabilitation of existing dwelling units or structures to be used for moderate or low rental units.(b) The term includes the planning of the buildings and improvements, the acquisition of property, the demolition of existing structures, the construction, reconstruction, alteration, and repair of the improvements, and all other connected work. The term includes the reconstruction, rehabilitation, alteration, or major repair of existing buildings or improvements.As added by P.L.69-1989, SEC.3.
IN Code § 5-20-3-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 3. Mutual Housing Associations|5-20-3-3. "Mutual Housing Association" Defined

Sec. 3. As used in this chapter, "mutual housing association" refers to a corporation established under section 4 of this chapter.As added by P.L.69-1989, SEC.3.
IN Code § 5-20-3-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 3. Mutual Housing Associations|5-20-3-4. Establishment of Mutual Housing Association; Articles of Incorporation

Sec. 4. (a) A mutual housing association may be established as a nonprofit corporation incorporated under IC 23-7-1.1 (before its repeal on August 1, 1991) or IC 23-17 to prevent and eliminate neighborhood deterioration and to preserve neighborhood stability by:(1) providing high quality, long term housing for families of low and moderate income; and(2) affording community and residential involvement in the provision of that housing.(b) The articles of incorporation of a mutual housing association must be approved by the authority.(c) The articles of incorporation of a mutual housing association must include a provision that provides that if the mutual housing association dissolves, is involved in a bankruptcy proceeding, or otherwise disposes of its physical properties, the association may only transfer the assets to another entity that provides high quality long term housing for families of low and moderate income.As added by P.L.69-1989, SEC.3. Amended by P.L.179-1991, SEC.8; P.L.1-1992, SEC.12; P.L.1-2006, SEC.108 and P.L.181-2006, SEC.23; P.L.145-2008, SEC.8.
IN Code § 5-20-3-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 3. Mutual Housing Associations|5-20-3-5. Articles of Incorporation of Mutual Housing Association; Purposes

Sec. 5. A mutual housing association must have as one (1) of its purposes in its articles of incorporation the construction, rehabilitation, development, ownership, or operation (including the management and maintenance of housing) of high quality long term housing for families of low and moderate income.As added by P.L.69-1989, SEC.3.
IN Code § 5-20-3-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 3. Mutual Housing Associations|5-20-3-6. Contracts for State Financial Assistance; Mutual Housing Associations; Grants and Loans

Sec. 6. The Indiana housing and community development authority may enter into a contract with a mutual housing association to provide financial assistance for the construction, rehabilitation, ownership, or operation of housing for families of low and moderate income. State financial assistance may be in the form of grants, loans, or a combination of grants and loans and may be used for the acquisition or development of housing sites and for the costs incurred in the development of the housing. Grants may not exceed the development cost of the housing project.As added by P.L.69-1989, SEC.3. Amended by P.L.1-2006, SEC.109 and P.L.181-2006, SEC.24.
IN Code § 5-20-3-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 3. Mutual Housing Associations|5-20-3-8. Service Charges; Mutual Housing Associations; Loans and Grants

Sec. 8. The Indiana housing and community development authority may assess a mutual housing association a service charge for each loan or grant provided to the association.As added by P.L.69-1989, SEC.3. Amended by P.L.1-2006, SEC.111 and P.L.181-2006, SEC.26.
IN Code § 5-20-3-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 3. Mutual Housing Associations|5-20-3-9. Mutual Housing Association; Resident Requirements

Sec. 9. A resident of a mutual housing association:(1) must participate in the ongoing operation and management of the housing;(2) must have a right to continue residing in the housing as long as the resident complies with the terms of the occupancy agreement; and(3) may not possess an equity or ownership interest in the housing.As added by P.L.69-1989, SEC.3.
IN Code § 5-20-3-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 3. Mutual Housing Associations|5-20-3-10. Rules

Sec. 10. The Indiana housing and community development authority shall adopt rules under IC 4-22-2 to carry out this chapter.As added by P.L.69-1989, SEC.3. Amended by P.L.1-2006, SEC.112 and P.L.181-2006, SEC.27.
IN Code § 5-20-4-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-2. "Families"

Sec. 2. As used in this chapter, "families" has the meaning set forth in 42 U.S.C. 1437a(b)(3).As added by P.L.69-1989, SEC.4.
IN Code § 5-20-4-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-3. "Housing and Community Development Authority"

Sec. 3. As used in this chapter, "authority" refers to the Indiana housing and community development authority established under IC 5-20-1.As added by P.L.69-1989, SEC.4. Amended by P.L.1-2006, SEC.113; P.L.181-2006, SEC.29; P.L.1-2007, SEC.31.
IN Code § 5-20-4-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-4. "Fund"

Sec. 4. As used in this chapter, unless the context requires otherwise, "fund" refers to the affordable housing and community development fund established by section 7 of this chapter.As added by P.L.69-1989, SEC.4. Amended by P.L.181-2006, SEC.30.
IN Code § 5-20-4-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-5. "Lower Income Families"

Sec. 5. As used in this chapter, "lower income families" means families whose income does not exceed eighty percent (80%) of the median income for the area.As added by P.L.69-1989, SEC.4.
IN Code § 5-20-4-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-6. "Very Low Income Families"

Sec. 6. As used in this chapter, "very low income families" means families whose income does not exceed fifty percent (50%) of the median for the area.As added by P.L.69-1989, SEC.4.
IN Code § 5-20-4-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-7. Establishment of Fund; Administration; Resources; Investments; Disposition of Remaining Money; Interest

Sec. 7. (a) There is established the affordable housing and community development fund. The fund shall be administered by the authority under the direction of the authority's board.(b) The fund consists of the following resources:(1) Appropriations from the general assembly.(2) Gifts, grants, and donations of any tangible or intangible property from public or private sources.(3) Investment income earned on the fund's assets.(4) Repayments of loans from the fund.(5) Funds borrowed from the board for depositories insurance fund (IC 5-13-12-7).(6) Money deposited in the fund under IC 6-7-2-17 and IC 36-2-7-10.(c) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested.(d) The money remaining in the fund at the end of a fiscal year does not revert to the state general fund.(e) Interest earned on the fund may be used by the authority to pay expenses incurred in the administration of the fund.As added by P.L.69-1989, SEC.4. Amended by P.L.27-1993, SEC.17; P.L.1-2006, SEC.114; P.L.181-2006, SEC.31; P.L.1-2007, SEC.32; P.L.211-2007, SEC.1; P.L.234-2007, SEC.200; P.L.3-2008, SEC.31.
IN Code § 5-20-4-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-8. Financial Assistance; Form; Allocation

Sec. 8. (a) The money in the fund shall be used to provide financial assistance in the form of:(1) grants;(2) loans; and(3) loan guarantees.In addition, money from the fund may be used to provide technical assistance to nonprofit developers of low income housing.(b) The financial assistance described in subsection (a) shall be used for:(1) the acquisition, construction, rehabilitation, development, operation, and insurance of, and education concerning, affordable housing and community economic development; or(2) other programs considered appropriate to meet the affordable housing and community development needs of lower income families and very low income families, including lower income elderly, persons with disabilities, and homeless individuals.(c) At least fifty percent (50%) of the dollars allocated must be used to serve very low income households.As added by P.L.69-1989, SEC.4. Amended by P.L.23-1993, SEC.18; P.L.27-1993, SEC.18; P.L.181-2006, SEC.32; P.L.211-2007, SEC.2.
IN Code § 5-20-4-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-9. Terms of Loans From Board for Depositories Insurance Fund

Sec. 9. The board for depositories shall determine the terms of the loan from the board for depositories insurance fund under section 8 of this chapter that must include the following:(1) That the duration of the loan may not exceed twenty (20) years from the date of the execution of the agreement between the authority and the public deposit insurance fund operated by the board for depositories.(2) The repayment schedule of the loan that:(A) shall not require repayment of any principal; and(B) must allow any principal to be repaid by the fund at any time;before the end of the term for the loan.(3) That no interest may be charged.(4) The amount of the loan, which may not exceed five million dollars ($5,000,000).As added by P.L.69-1989, SEC.4. Amended by P.L.27-1993, SEC.19; P.L.1-2006, SEC.115; P.L.181-2006, SEC.33; P.L.1-2007, SEC.33.
IN Code § 5-20-4-10.1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-10.1. Repayment of Loans; Procedures

Sec. 10.1. The authority and the board for depositories shall establish procedures to insure repayment of the loan principal at the end of the loan term. The procedures may include purchase of a zero coupon bond to insure the loan principal, a requirement that a percentage of the loans issued by the authority be made through a linked deposit program in certificates of deposit, or other procedures that the authority and the board for depositories may determine appropriate.As added by P.L.27-1993, SEC.20. Amended by P.L.1-2006, SEC.116; P.L.181-2006, SEC.34; P.L.1-2007, SEC.34.
IN Code § 5-20-4-11 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-11. Allocation of Fund Resources

Sec. 11. (a) At least fifty percent (50%) of the resources of the fund shall be allocated to recognized nonprofit corporations under Section 501(c) of the Internal Revenue Code.(b) The resources of the fund that are not allocated under subsection (a) may be allocated to private developers of housing and private development entities as determined by the authority.As added by P.L.69-1989, SEC.4. Amended by P.L.179-1991, SEC.9; P.L.1-1992, SEC.13; P.L.27-1993, SEC.21; P.L.1-2006, SEC.117; P.L.181-2006, SEC.35; P.L.1-2007, SEC.35.
IN Code § 5-20-4-12 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-12. Occupancy of Housing Developed With Fund Resources

Sec. 12. Rental housing that is developed with money from the fund shall be made available for occupancy to low income families or very low income families for at least fifteen (15) years. In the event of foreclosure or equivalent action, the remaining affordability period may be waived by the authority.As added by P.L.69-1989, SEC.4. Amended by P.L.27-1993, SEC.22; P.L.1-2006, SEC.118; P.L.181-2006, SEC.36; P.L.1-2007, SEC.36.
IN Code § 5-20-4-13 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-13. Developer Certification of Compliance With Federal Requirements

Sec. 13. A developer that uses funds from the fund shall certify to the authority that the developer will comply with the following:(1) The federal Civil Rights Act of 1968 (P.L. 90-284).(2) The federal Fair Housing Amendments of 1988 (P.L. 100-430).(3) The Indiana Civil Rights Law (IC 22-9-1).As added by P.L.69-1989, SEC.4. Amended by P.L.1-2006, SEC.119; P.L.181-2006, SEC.37; P.L.1-2007, SEC.37.
IN Code § 5-20-4-14 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 4. Affordable Housing and Community Development Fund|5-20-4-14. Policies and Procedures for Implementation of Chapter

Sec. 14. The authority shall establish written policies and procedures to implement this chapter. These policies and procedures shall include the following:(1) The development of an application process for requesting financial assistance under this chapter.(2) The establishment of a procedure for disbursing financial assistance under this chapter.(3) The establishment of a rate of interest for a loan under this chapter.(4) The establishment of loan underwriting criteria to protect the assets of the fund. The authority shall require a lien or other security when appropriate and in the amounts the authority determines appropriate.(5) A requirement that a financial institution holding an obligation that is guaranteed under this chapter must adequately secure the obligation.(6) Standards requiring a local match for any assistance under this chapter and establishing the level of local match required.(7) The establishment of a cap on the amount of financial assistance that any recipient may receive.(8) The establishment of procedures to do the following:(A) Ensure that an equitable part of all funds are distributed to rural areas of Indiana.(B) Enable the authority to use the fund to provide matching funds to local housing trust funds in Indiana.(C) Promote community economic development.As added by P.L.69-1989, SEC.4. Amended by P.L.27-1993, SEC.23; P.L.1-2006, SEC.120; P.L.181-2006, SEC.38; P.L.1-2007, SEC.38.
IN Code § 5-20-5-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 5. Indiana Affordable Housing Fund|5-20-5-1. "Agency" Defined

Sec. 1. As used in this chapter, "agency" means the agency or other entity that administers the affordable housing program under this chapter.As added by P.L.115-2000, SEC.1.
IN Code § 5-20-5-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 20. Housing|Chapter 5. Indiana Affordable Housing Fund|5-20-5-2. "Authority" Defined

Sec. 2. As used in this chapter, "authority" means the Indiana housing and community development authority created by IC 5-20-1-3.As added by P.L.115-2000, SEC.1. Amended by P.L.1-2006, SEC.122; P.L.181-2006, SEC.40.