reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14. Water Infrastructure Assistance Program › 5-1.2-14-8.6. Advisory Services in Connection With Loan

Sec. 8.6. The authority may provide services to a participant in connection with a loan or other financial assistance from the water infrastructure assistance fund, including advisory services and other services.
As added by P.L.56-2019, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14. Water Infrastructure Assistance Program › 5-1.2-14-9. Selling of Loans

Sec. 9. (a) The authority may sell loans, evidences of other financial assistance, and other obligations evidencing the loans or other financial assistance from the water infrastructure assistance fund:
(1) periodically;
(2) at any price; and
(3) on terms acceptable to the authority.
(b) Proceeds of sales under subsection (a) shall be deposited in:
(1) the water infrastructure assistance fund;
(2) the wastewater revolving loan fund established by IC 5-1.2-10;
(3) the drinking water revolving loan fund established by IC 5-1.2-10; or
(4) the supplemental drinking water and wastewater assistance fund established by IC 5-1.2-11;
at the direction of the authority.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14. Water Infrastructure Assistance Program › 5-1.2-14-10. Pledging of Loans

Sec. 10. (a) The authority may pledge loans, evidences of other financial assistance, and other obligations evidencing the loans or other financial assistance from the water infrastructure assistance fund to secure other loans or financial assistance from:
(1) the water infrastructure assistance fund;
(2) the wastewater revolving loan fund established by IC 5-1.2-10;
(3) the drinking water revolving loan fund established by IC 5-1.2-10; or
(4) the supplemental drinking water and wastewater assistance fund established by IC 5-1.2-11;
for the benefit of participants.
(b) The terms of a pledge under this section must be acceptable to the authority.
(c) Notwithstanding any other law, a pledge of property made by the authority under this section is binding from the time the pledge is made. Revenues, other money, or other property pledged and thereafter received are immediately subject to the lien of the pledge without any further act. The lien of a pledge is binding against all parties having claims of any kind in tort, contract, or otherwise against:
(1) the authority;
(2) the budget agency; or
(3) the water infrastructure assistance fund;
regardless of whether the parties have notice of any lien.
(d) A resolution, an indenture, or another instrument by which a pledge is created under this section does not have to be filed or recorded, except in the records of the authority.
(e) Action taken to:
(1) enforce a pledge made under this section; and
(2) realize the benefits of the pledge;
is limited to the property pledged.
(f) A pledge under this section does not create a liability or indebtedness of the state.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14. Water Infrastructure Assistance Program › 5-1.2-14-11. Report

Sec. 11. Not later than August 1 of each odd-numbered year through 2021, the public finance director shall prepare for the budget committee established by IC 4-12-1-3 and the legislative council a report that includes the following:
(1) Information concerning the financial assistance made available to participants from the water infrastructure assistance fund during the two (2) most recent fiscal years.
(2) Any other information requested by the budget committee and the legislative council.
The report must be submitted in an electronic format under IC 5-14-6.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14. Water Infrastructure Assistance Program › 5-1.2-14-12. Requirement to Maintain Sufficient User Charges

Sec. 12. The authority shall, if appropriate, require a participant receiving a loan or other financial assistance from the water infrastructure assistance fund to establish under applicable law and maintain sufficient user charges or other charges, fees, taxes, special assessments, or revenues available to the participant to:
(1) operate and maintain its water system or wastewater collection and treatment system; and
(2) pay the obligations of its water system or wastewater collection and treatment system, including all debt service associated with financial assistance from the water infrastructure assistance fund.
As added by P.L.56-2019, SEC.9.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14. Water Infrastructure Assistance Program › 5-1.2-14-13. Alternative of Providing Leveraged Loan Program

Sec. 13. (a) As an alternative to making loans or providing other financial assistance to participants, the authority may use the money in the water infrastructure assistance fund to provide a leveraged loan program and other financial assistance programs to or for the benefit of participants, including using money in the water infrastructure assistance fund to enhance the obligations of participants issued for the purposes of this chapter by:
(1) granting money to:
(A) be deposited in:
(i) a capital fund or reserve fund established under IC 5-1.2-4 or another statute or a trust agreement or indenture as contemplated by this chapter; or
(ii) an account established within a fund described in item (i); or
(B) provide interest subsidies;
(2) paying bond insurance premiums, reserve insurance premiums, or credit enhancement, liquidity support, remarketing, or conversion fees, or other similar fees or costs for obligations of a participant or for bonds issued by the authority, if credit market access is improved or interest rates are reduced; or
(3) guaranteeing all or a part of obligations issued by participants or bonds issued by the authority.
(b) A guarantee of obligations or bonds under subsection (a)(3) must be limited to money in the water infrastructure assistance fund. A guarantee under subsection (a)(3) does not create a liability or indebtedness of the state.
As added by P.L.56-2019, SEC.10.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14. Water Infrastructure Assistance Program › 5-1.2-14-14. Use of Money in Fund to Establish Leveraged Loan Program

Sec. 14. Notwithstanding any other law, money in the water infrastructure assistance fund, together with loan repayments to be deposited in the fund, may be used to establish a leveraged loan program or other financial assistance programs established in connection with the water infrastructure assistance fund.
As added by P.L.56-2019, SEC.11.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14.5. Water Infrastructure Grant Program › 5-1.2-14.5-1. "Non-Revenue Water"

Sec. 1. As used in this chapter, "non-revenue water" means the difference between the amount of water that enters a water distribution system and the amount of water provided to users of the water distribution system.
As added by P.L.154-2021, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14.5. Water Infrastructure Grant Program › 5-1.2-14.5-3. Water Infrastructure Grant Fund

Sec. 3. (a) The water infrastructure grant fund is established as a source of money for grants, loans, and other financial assistance to, or for the benefit of, participants in the program.
(b) The fund shall be administered, held, and managed by the authority.
(c) The authority shall invest or cause to be invested all or a part of the fund, pursuant to the authority's investment policy, in a fiduciary account or accounts with a trustee that is a financial institution. Notwithstanding any other law, any investment under this subsection may be made by the trustee in accordance with one (1) or more trust agreements or indentures. A trust agreement or indenture referred to in this subsection may permit disbursements by the trustee to the authority, the department, the budget agency, a participant, or any other person as provided in the trust agreement or indenture.
(d) The fund consists of the following:
(1) Fees and other amounts received by the state, paid by the treasurer of state to the authority upon warrants issued by the auditor of state, and deposited in the fund.
(2) Appropriations to the fund from the general assembly.
(3) Grants and gifts of money to the fund.
(4) Proceeds of the sale of gifts to the fund.
(5) Repayments of loans and other financial assistance from the fund.
(e) Fees and other amounts received by the state pursuant to law concerning the funding of the water infrastructure grant fund shall be paid by the treasurer of state to the authority upon the authority's request with warrants issued by the auditor of state and deposited in the fund.
(f) The expenses of administering the fund shall be paid from money in the fund.
(g) Money in the fund at the end of a state fiscal year does not revert to the state general fund.
(h) All:
(1) money accruing to the fund; and
(2) money allotted to the state under federal law for the purposes of the fund;
is continuously appropriated for the purposes specified in this chapter.
As added by P.L.154-2021, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14.5. Water Infrastructure Grant Program › 5-1.2-14.5-4. Uses of Money in Water Infrastructure Grant Fund

Sec. 4. Money in the water infrastructure grant fund may be used to do the following:
(1) Provide grants, loans, and other financial assistance to or for the benefit of participants for:
(A) the planning, designing, acquisition, construction, renovation, improvement, or expansion of water systems; and
(B) other activities necessary or convenient to complete the tasks referred to in clause (A), regardless of whether the other activities are permitted by the federal Clean Water Act or the federal Safe Drinking Water Act.
(2) Provide grants, loans, or other financial assistance to or for the benefit of participants for:
(A) the planning, designing, acquisition, construction, renovation, improvement, or expansion of wastewater or storm water collection and treatment systems; and
(B) other activities necessary or convenient to complete the tasks referred to in clause (A), regardless of whether the other activities are permitted by the federal Clean Water Act or the federal Safe Drinking Water Act.
(3) Provide grants, loans, or other financial assistance to or for the benefit of participants for the planning, designing, acquisition, construction, renovation, improvement, or expansion of septic relief systems in accordance with guidelines of the authority.
(4) Provide grants, loans, or other financial assistance to or for the benefit of participants for any eligible activity (as defined in IC 5-1.2-2-23).
(5) Provide grants to political subdivisions for tasks associated with the development and preparation of:
(A) long term control plans;
(B) use attainability analyses; and
(C) storm water management programs.
(6) Undertake tasks associated with the development and preparation of water, wastewater, and storm water infrastructure and resource analyses.
(7) Conduct all other activities that are permitted by the federal Clean Water Act or the federal Safe Drinking Water Act.
As added by P.L.154-2021, SEC.8. Amended by P.L.18-2022, SEC.9.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14.5. Water Infrastructure Grant Program › 5-1.2-14.5-5. Allocation of Grants, Loans, and Other Financial Assistance; Uses; Conditions

Sec. 5. (a) The authority shall adopt guidelines to establish criteria for the making of grants, loans (including parameters for establishing interest rates, if any, on such loans), and other financial assistance from the water infrastructure grant fund.
(b) The making of grants, the making of loans, and the providing of other financial assistance from the water infrastructure grant fund to or for the benefit of participants under this chapter are subject to the following conditions:
(1) A grant, loan, or other financial assistance may be used:
(A) for:
(i) the planning, designing, acquiring, constructing, renovating, improving, or expanding of water systems; and
(ii) other activities necessary or convenient to the completion of the tasks referred to in item (i); or
(B) to pay the following:
(i) Consultant, advisory, and legal fees.
(ii) Other costs or expenses necessary or incident to the making of grants, loans, or other financial assistance or the administration of the fund or the program.
(2) A grant may be used for tasks associated with the development and preparation of water infrastructure and resource analyses.
(3) The authority must establish the terms and conditions that the authority considers necessary or convenient to the making of grants or loans or the providing of other financial assistance under this chapter.
(c) In addition to exercising the authority's powers under subsection (b), the authority may also make grants, make loans, or provide other financial assistance from the fund to or for the benefit of a participant under the following conditions:
(1) A grant, loan, or other financial assistance may be used:
(A) for planning, designing, acquiring, constructing, renovating, improving, or expanding wastewater or storm water collection and treatment systems or for any eligible activity (as defined in IC 5-1.2-2-23), and for other activities necessary or convenient to the completion of these tasks; or
(B) to pay:
(i) consultant, advisory, and legal fees; and
(ii) other costs or expenses necessary or incident to the grant, loan, or other financial assistance or the administration of the water infrastructure grant fund or the infrastructure program.
(2) A grant may be used for tasks associated with the development and preparation of:
(A) long term control plans;
(B) use attainability analyses;
(C) storm water management programs; or
(D) other wastewater or storm water infrastructure and resource analyses.
(3) The authority must establish the terms and conditions that the authority considers necessary or convenient to the making of grants, the making of loans, or the providing of other financial assistance under this chapter.
As added by P.L.154-2021, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14.5. Water Infrastructure Grant Program › 5-1.2-14.5-6. Application for Grant, Loan, or Other Financial Assistance

Sec. 6. (a) An application for a grant, loan, or other financial assistance from the water infrastructure grant fund must be accompanied by all papers and opinions required by the authority.
(b) The authority may require that an application for a grant, a loan, or other financial assistance from the water infrastructure grant fund be accompanied by the following:
(1) A certification and guarantee of signatures.
(2) A certification that, as of the date of the grant, loan, or other financial assistance, no litigation is pending challenging the validity of or entry into the grant, loan, or other financial assistance.
(3) Any other certifications, agreements, security, or requirements that the authority requests.
(4) An approving opinion of nationally recognized bond counsel.
As added by P.L.154-2021, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14.5. Water Infrastructure Grant Program › 5-1.2-14.5-8. Project Prioritization System for Awarding Loans and Grants; Variables to Be Included

Sec. 8. (a) The authority shall establish a project prioritization system for the purposes of awarding loans and grants from the water infrastructure grant fund. The project prioritization system must be based on a model that includes at least the following variables:
(1) The effect of a project on the environment and public health and safety.
(2) The effect upon, and the affordability of, the user rates and charges of participants.
(3) The existence of plans for collaboration with other entities.
(4) The existence of a plan to measure and manage non-revenue water.
(5) Whether an applicant is employing other best practices as determined by the authority.
(6) Whether the project includes an expansion of storm water collection and treatment systems.
(b) The authority shall use the results of the project prioritization system established under subsection (a) to create a project priority list, and shall use the project priority list in awarding grants, loans, and other financial assistance under this chapter. The authority may adjust the project priority list established under this section:
(1) if the authority determines that unforeseen circumstances require an adjustment; or
(2) in case of an emergency.
As added by P.L.154-2021, SEC.8. Amended by P.L.18-2022, SEC.11.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14.5. Water Infrastructure Grant Program › 5-1.2-14.5-9. Advisory Services in Connection With Grant, Loan, or Other Financial Assistance

Sec. 9. The authority may provide services to a participant in connection with a grant, a loan, or other financial assistance from the water infrastructure grant fund, including advisory services and other services.
As added by P.L.154-2021, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14.5. Water Infrastructure Grant Program › 5-1.2-14.5-10. Report

Sec. 10. Not later than August 1 of each odd-numbered year through 2023, the public finance director shall prepare for the budget committee established by IC 4-12-1-3 and the legislative council a report that includes the following:
(1) Information concerning grants, loans, or other financial assistance made available to participants from the water infrastructure grant fund during the two (2) most recent fiscal years.
(2) Any other information requested by the budget committee and the legislative council.
The report must be submitted in an electronic format under IC 5-14-6.
As added by P.L.154-2021, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 14.5. Water Infrastructure Grant Program › 5-1.2-14.5-11. Requirement to Maintain Sufficient User Charges

Sec. 11. The authority shall, if appropriate, require a participant receiving a loan or other financial assistance from the water infrastructure grant fund to establish under applicable law and maintain sufficient user charges or other charges, fees, taxes, special assessments, or revenues available to the participant to:
(1) operate and maintain its water system or wastewater collection and treatment system; and
(2) pay the obligations of its water system or wastewater collection and treatment system, including all debt service associated with financial assistance from the water infrastructure grant fund.
As added by P.L.154-2021, SEC.8.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-2. Funds

Sec. 2. The authority may establish local transportation infrastructure revolving funds for the purpose of providing funds to participants for local transportation infrastructure projects. A separate fund may be established for any purpose listed in section 8(a) of this chapter. Each fund shall be administered by the authority.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-3. Fund Administration

Sec. 3. (a) In administering a fund, the authority shall do the following:
(1) Monitor applicable infrastructure finance needs and the availability and cost of capital.
(2) Provide financial management of investment pools and financial services associated with loans.
(3) Explore and evaluate capital financing techniques.
(4) Explore methods for the state to enhance the credit quality of bond issues of participants at a minimum cost to the state.
(b) The Indiana department of transportation, the department of environmental management, and any other appropriate state agency, department, or instrumentality, in consultation with the authority, shall advise participants on methods for financing infrastructure.
(c) The authority shall annually present a report to the budget committee and the budget agency that describes the projects funded under this chapter during the year.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-4. Powers

Sec. 4. Subject to the written procedures developed by the authority under section 7 of this chapter, the authority may do the following:
(1) Accept money from any agency, department, or instrumentality of the United States, the state, or another state for deposit in a fund.
(2) Issue bonds and deposit proceeds in a fund.
(3) Loan money to a participant.
(4) Use the money in a fund:
(A) for debt financing;
(B) for grants;
(C) for loan guarantees;
(D) to manage leveraged loan programs for new construction of local transportation infrastructure projects through recapitalization of funds;
(E) to refinance and purchase participant debt;
(F) to guarantee participant loans;
(G) to make bond and debt service reserve insurance payments;
(H) to guarantee debt service reserve funds; and
(I) to provide other financial assistance;
to or for a participant.
(5) Deposit loan repayments by a participant in a fund.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-5. Default; Withholding of Distributions

Sec. 5. (a) If the authority uses bond proceeds to loan money to or purchase bonds of a participant, the authority may, by the resolution approving the bonds, provide that subsection (b) is applicable to the participant.
(b) Notwithstanding any other law, to the extent that any department or agency of the state, including the treasurer of state, is the custodian of money payable to the participant (other than for goods or services provided by the participant), at any time after written notice to the department or agency head from the authority that the participant is in default on the payment of principal of or interest on the bonds then held or owned by or arising from an agreement with the authority, the department or agency shall withhold the payment of that money from that participant and pay over the money to the authority for the purpose of paying the principal of and interest on the related bonds. However, the withholding of payment from the participant and payment to the authority under this section must not adversely affect the validity of the bonds in default.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-6. Financial Assistance Agreement

Sec. 6. (a) If the authority finds that the local transportation infrastructure project:
(1) will be of benefit to the health, safety, morals, and general welfare of the area where the local transportation infrastructure project is to be located; and
(2) complies with the purposes and provisions of this chapter;
the authority may by resolution approve the proposed financial assistance agreement.
(b) A financial assistance agreement approved under this section in connection with bonds must provide for payments in an amount sufficient to pay the principal of, premium on (if any), and interest on the bonds issued for the financing of the local transportation infrastructure project. Interest payments for the anticipated construction period, plus a period of not more than one (1) year, may be funded in the bond issue. The term of a financial assistance agreement may not exceed twenty (20) years from the date of any bonds issued under the financial assistance agreement. However, a financial assistance agreement does not terminate after twenty (20) years if a default under that financial assistance agreement remains uncured, unless the termination is authorized by the terms of the financial assistance agreement.
(c) The authority may do any of the following:
(1) Establish eligibility standards for a participant and local transportation infrastructure projects, without complying with IC 4-22-2. However, these standards have the force of law if the standards are adopted after a public hearing for which notice has been given by publication under IC 5-3-1.
(2) Contract with any entity securing, in whole or in part, the payment of bonds issued under this chapter and authorizing the entity to approve the participant that can finance or refinance local transportation infrastructure projects with proceeds from the bond issue secured by that entity.
(3) Finance for participants in connection with their local transportation infrastructure projects:
(A) the cost of their local transportation infrastructure projects, including costs of planning, designing, feasibility studies, construction, expansion, renovation, or improvement;
(B) capitalized interest for the anticipated construction period plus one (1) year; and
(C) in the case of a program funded from the proceeds of taxable bonds or sources other than tax exempt bonds, working capital associated with the operation of such local transportation infrastructure projects;
in amounts determined to be appropriate by the authority.
(d) The authority may provide financial assistance to participants in the form of forgiveness of principal of a loan.
As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-7. Allocation of Money to Projects; Procedure

Sec. 7. (a) The authority shall establish a written procedure, in coordination with a state agency, department, or instrumentality providing funds under section 4(1) of this chapter and for allocating money to projects described in section 8 of this chapter.
(b) The procedure established under this section must include at least the following:
(1) An application procedure to identify projects that qualify for funding.
(2) Criteria for establishing priority of projects.
(3) Procedures for selecting projects.
(4) Procedures for reporting the results of the selection process and the status of projects to the budget committee.
(c) To apply for a loan or other financial assistance from a fund, a participant must submit an application that contains at least the following information:
(1) A description of the infrastructure for which the loan or other financial assistance is sought.
(2) An estimate of the cost of constructing or improving the infrastructure, including the cost of designing the infrastructure.
(3) Any other information required by the authority in accordance with the procedure established under this section.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-8. Loans or Other Financial Assistance; Uses; Condition

Sec. 8. (a) A loan of proceeds of the authority's bonds or a loan or other financial assistance from a fund must be used by a participant to establish or improve highways, roads, streets, bridges, or any other public way, and public mass transportation systems.
(b) Financial assistance from the fund must be made in conjunction with the adoption of a resolution by a participant that sets forth the participant's commitment of revenues or other money or property to the local transportation infrastructure project for which the financial assistance is made.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-9. Loans or Other Financial Assistance; Interest Rates

Sec. 9. (a) A loan from a fund may:
(1) not have a term of more than twenty (20) years;
(2) provide for amortization to begin not later than one (1) year after construction of the project ends; and
(3) have an interest rate established by the authority in accordance with subsection (c).
(b) Unless otherwise provided by the procedure established by the authority under section 7 of this chapter, a participant that receives financial assistance from the fund shall enter into a financial assistance agreement. A financial assistance agreement is a valid, binding, and enforceable agreement of the participant.
(c) The authority, in setting the interest rate or parameters for establishing the interest rate on each loan, may take into account the following:
(1) Credit risk.
(2) Affordability.
(3) Other fiscal factors the authority considers relevant, including the program's cost of funds.
Based on the factors set forth in subdivisions (1) through (3), more than one (1) interest rate may be established and used for loans to different participants or for different loans or other financial assistance to the same participants.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-10. Loans or Other Financial Assistance; Necessary Documents

Sec. 10. A loan or other financial assistance from the fund must be accompanied by the following:
(1) All papers and opinions required by the authority.
(2) Unless otherwise provided by the guidelines of the authority, the following:
(A) An approving opinion of nationally recognized bond counsel.
(B) A certification and guarantee of signatures.
(C) A certification that, as of the date of the loan or other financial assistance:
(i) no litigation is pending challenging the validity of or entry into the loan or other financial assistance or any security for the loan or other financial assistance; or
(ii) if litigation is pending, the litigation will not have a material adverse effect on the validity of the loan or other financial assistance or any security for the loan or other financial assistance.
(D) If litigation is pending, as an alternative to the certification described in clause (C), an opinion of legal counsel that the litigation will not have a material adverse effect on the validity of the loan or other financial assistance.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-12. Investment

Sec. 12. The authority may invest money in funds as provided in IC 5-1.2-4-1(a)(17) and IC 5-1.2-4-1(a)(40).
As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.26.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-14. Other Statutes

Sec. 14. The following apply to bonds issued under this chapter for local transportation infrastructure projects:
(1) IC 5-1.2-1-2.
(2) IC 5-1.2-4-7 through IC 5-1.2-4-16.
(3) IC 5-1.2-4-19 through IC 5-1.2-4-20.
(4) IC 5-1.2-4-23.
(5) IC 5-1.2-4-24.
(6) IC 5-1.2-4-26 through IC 5-1.2-4-29.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15. Local Transportation Infrastructure Program › 5-1.2-15-15. Compensation

Sec. 15. The authority may fix and pay the compensation of persons employed for purposes of this chapter from money:
(1) available in a fund; or
(2) otherwise made available for the program.
As added by P.L.189-2018, SEC.25.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-3. "Fund"

Sec. 3. As used in this chapter, "fund" refers to the residential housing infrastructure assistance revolving fund established by section 9 of this chapter.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-4. "Housing Infrastructure"

Sec. 4. As used in this chapter, "housing infrastructure" means the installation, replacement, upgrade, or improvement of public infrastructure for the support of residential housing.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-5. "Program"

Sec. 5. As used in this chapter, "program" refers to the residential housing infrastructure assistance program established by section 8 of this chapter.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-6. "Public Infrastructure"

Sec. 6. (a) As used in this chapter, "public infrastructure" means any of the following infrastructure that is or will be owned, maintained, or provided by a political subdivision:
(1) A water distribution system.
(2) A water treatment plant.
(3) A wastewater treatment plant.
(4) A sanitary sewer system.
(5) A storm sewer system.
(6) A lift station.
(7) A street, road, or bridge.
(8) A curb, gutter, or sidewalk.
(9) A traffic signal.
(10) A street light.
(11) An electric or gas distribution line.
(b) The term includes the purchase of land necessary to accommodate a project listed in this section, including any excavation and compaction.
(c) For purposes of subsection (a)(1) through (a)(4), a political subdivision is providing the infrastructure notwithstanding that, after completion of construction, the infrastructure is contributed by the political subdivision to a:
(1) public utility (as defined in IC 8-1-2-1(a));
(2) municipally owned utility (as defined in IC 8-1-2-1(h));
(3) not-for-profit utility (as defined in IC 8-1-2-125(a));
(4) cooperatively owned corporation;
(5) conservancy district established under IC 14-33; or
(6) regional water or sewer district established under IC 13-26.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-7. "Residential Housing"

Sec. 7. As used in this chapter, "residential housing" means single family or multifamily housing for rent or sale. The term includes condominiums and townhouses located within an economic development target area that is designated under IC 6-1.1-12.1-7.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-9. Residential Housing Infrastructure Assistance Revolving Fund; Use of Money

Sec. 9. (a) The residential housing infrastructure assistance revolving fund is established. The fund is a revolving fund to provide money for loans under this chapter to or for the benefit of participants.
(b) The fund consists of:
(1) appropriations from the general assembly;
(2) grants and other gifts of money; and
(3) loan repayments, including interest, premiums, and penalties.
(c) The authority shall administer, hold, and manage the fund.
(d) The cost of administering the fund shall be paid from money in the fund.
(e) Money in the fund shall be used to make loans for public infrastructure for the support of residential housing.
(f) Money in the fund may not be used for any of the following purposes:
(1) Repayment of any debt incurred for a project other than an eligible project.
(2) Routine maintenance and repair projects.
(3) Upgrading utility poles.
(4) Fees for studies, reports, designs, or analyses prepared by consultants or engineers for an eligible project.
(g) Money in the fund is continuously appropriated for the purposes of this chapter.
(h) Money in the fund does not revert to the state general fund at the end of a state fiscal year.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-10. Allocation of Loans

Sec. 10. Loans from the fund must be allocated and made available to participants as follows:
(1) Seventy percent (70%) of the money in the fund must be used for housing infrastructure in municipalities with a population of less than fifty thousand (50,000).
(2) Thirty percent (30%) of the money in the fund must be used for housing infrastructure in all other political subdivisions not described in subdivision (1).
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-11. Investment of Money

Sec. 11. (a) The authority shall invest the money in the fund in accordance with an investment policy adopted by the authority. Interest, premiums, gains, or other earnings from the investments shall be credited to and deposited in the fund.
(b) As an alternative to subsection (a), the authority may invest or cause to be invested all or a part of the fund in a fiduciary account or accounts with a trustee that is a financial institution. Notwithstanding any other law, any investment may be made by the trustee in accordance with one (1) or more trust agreements or indentures. A trust agreement or indenture may permit disbursements by the trustee to:
(1) a participant;
(2) the authority; or
(3) any person to which the authority or a participant is obligated, as provided in the trust agreement or indenture.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-12. Discretion of Authority

Sec. 12. This chapter does not require the authority to provide a loan to any participant to the extent the authority determines the loan is not in the best interests of the program and the authority.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-13. Duties

Sec. 13. The authority shall do the following under this chapter:
(1) Manage the program.
(2) Prepare and provide program information to participants.
(3) Negotiate the negotiable aspects of each financial assistance agreement.
(4) Prepare or cause to be prepared each financial assistance agreement.
(5) Sign each financial assistance agreement.
(6) Conduct or cause to be conducted an evaluation as to the financial ability of each participant to pay the loan and other obligations evidencing the loans, if required to be paid, and comply with the financial assistance agreement.
(7) Review each proposed eligible project and financial assistance agreement to determine if the project meets the credit, economic, or fiscal criteria established by guidelines of the authority.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-14. Priority Ranking System for Awarding Loans; Criteria

Sec. 14. (a) The authority shall develop and use a priority ranking system in making loans from the fund.
(b) The ranking system must prioritize making loans for eligible projects to participants that:
(1) have:
(A) invested in a housing study within the last five (5) years;
(B) had a housing study performed by a region's local economic development organization; or
(C) demonstrated the need for housing inventory as indicated by the Indiana state housing dashboard;
(2) have voluntarily revised unified development ordinances, zoning regulations, or other land development rules to allow for:
(A) higher density development;
(B) construction of other housing types including accessory dwelling units and manufactured and modular housing;
(C) adaptive reuse of commercial buildings for residential use; or
(D) waiver or elimination of regulations such as requirements for:
(i) garage size and placement;
(ii) steeper roof pitch;
(iii) minimum lot size and square footage;
(iv) greater setbacks;
(v) off-street parking; or
(vi) design standards that restrict or prohibit the use of code compliant products;
(3) do not have impact fee ordinances;
(4) have secured private, local, state, or federal funds to contribute to the eligible project;
(5) have secured a letter of support from an employer stipulating that the public infrastructure will support residential housing that is in reasonable proximity to employment; or
(6) assist:
(A) homeowners to age in place through restoration or renovation of existing homes; or
(B) communities in preparing for shovel ready housing.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-15. Loan Terms and Conditions

Sec. 15. The authority shall establish the terms and conditions that the authority considers necessary or convenient to make loans under this chapter.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-16. Loan Application; Necessary Documents

Sec. 16. (a) An application for a loan from the fund must be accompanied by all papers and opinions required by the authority.
(b) The authority may require that an application for a loan from the fund be accompanied by the following:
(1) A certification and guarantee of signatures.
(2) A certification that, as of the date of the loan, no litigation is pending challenging the validity of or entry into:
(A) the loan; or
(B) any security for the loan.
(3) Any other certifications, agreements, security, or requirements that the authority requests.
(4) An approving opinion of nationally recognized bond counsel.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-17. Financial Assistance Agreement

Sec. 17. A participant receiving a loan from the fund shall enter into a financial assistance agreement. A financial assistance agreement related to the program is a valid, binding, and enforceable agreement of the participant.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-18. Pledging of Loans

Sec. 18. (a) The authority may pledge loans and other obligations of participants evidencing the loans from the fund to secure other loans from the fund to or for the benefit of participants.
(b) The authority must approve the terms of a pledge under this section.
(c) Notwithstanding any other law, a pledge of property made by the authority under this section is binding from the time the pledge is made. Revenues, other money, or other property pledged and that is received after the pledge is immediately subject to the lien of the pledge without any other act. The lien of a pledge is binding against all parties having claims of any kind in tort, contract, or otherwise against:
(1) the fund; or
(2) the authority;
regardless of whether the parties have notice of any lien.
(d) A resolution, an indenture, or another instrument by which a pledge is created does not have to be filed or recorded, except in the records of the authority.
(e) Action taken to:
(1) enforce a pledge under this section; and
(2) realize the benefits of the pledge;
is limited to the property pledged.
(f) A pledge under this section does not create a liability or indebtedness of the state.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-19. Guidelines; Interest Rate or Parameters

Sec. 19. (a) The authority shall establish the interest rate or parameters for establishing the interest rate on each loan made under this chapter, including parameters for establishing the amount of interest subsidies.
(b) The authority, in setting the interest rate or parameters for establishing the interest rate on each loan, may take into account the following:
(1) Credit risk.
(2) Affordability.
(3) Other fiscal factors the authority considers relevant, including the program's cost of funds and whether the financial assistance provided to a particular participant is taxable or tax exempt under federal law.
Based on the factors set forth in subdivisions (1) through (3), more than one (1) interest rate may be established and used for loans to different participants or for different loans to the same participants.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-20. Alternative of Providing Leveraged Loan Program

Sec. 20. (a) As an alternative to making loans to participants, the authority may use the money in the fund to provide a leveraged loan program to or for the benefit of participants, including using money in the fund to enhance the obligations of participants issued for the purposes of this chapter by:
(1) granting money to:
(A) be deposited in:
(i) a capital fund or reserve fund established under IC 5-1.2-4 or another statute or a trust agreement or indenture as contemplated by this chapter; or
(ii) an account established within a fund described in item (i); or
(B) provide interest subsidies;
(2) paying bond insurance premiums, reserve insurance premiums, or credit enhancement, liquidity support, remarketing, or conversion fees, or other similar fees or costs for obligations of a participant or for bonds issued by the authority, if credit market access is improved or interest rates are reduced; or
(3) guaranteeing all or a part of obligations issued by participants or bonds issued by the authority.
(b) A guarantee of obligations or bonds under subsection (a)(3) must be limited to money in the fund. A guarantee under subsection (a)(3) does not create a liability or indebtedness of the state.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-21. Use of Money in Fund to Establish Leveraged Loan Program

Sec. 21. Notwithstanding any other law, money in the fund, together with loan repayments to be deposited in the fund, may be used to establish a leveraged loan program in connection with the fund.
As added by P.L.204-2023, SEC.5.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 15.5. Residential Housing Infrastructure Assistance Program › 5-1.2-15.5-22. Guidelines

Sec. 22. The authority may adopt guidelines, without complying with IC 4-22-2, to govern the administration of this chapter.
As added by P.L.204-2023, SEC.5.