reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 4. General Powers and Duties › 5-1.2-4-14. Bonds; Trust Agreement or Indenture

Sec. 14. The bonds may be secured by a trust agreement or indenture by and between the authority and a corporate trustee, which may be a bank having the power of a trust company or any trust company within or without the state. The trust agreement or indenture may contain provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, including covenants setting forth the duties of the authority in relation to the exercise of the authority's powers and the custody, safekeeping, and application of all money related to the particular bond financing for which the trust agreement or indenture exists. The authority may provide by the trust agreement or indenture for the payment of the proceeds of the bonds and the revenue to the trustee under the trust agreement or indenture or other depository, and for the method of disbursement of the proceeds, with safeguards and restrictions as the authority may determine. All expenses incurred in carrying out the trust agreement or indenture may be treated as a part of the operating expenses of the authority. If the bonds are secured by a trust agreement or indenture, the bondholders have no authority to appoint a separate trustee to represent them.
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 4. General Powers and Duties › 5-1.2-4-15. Bonds; Negotiability

Sec. 15. Whether the bonds are in the form and character of negotiable instruments, the bonds are negotiable instruments, subject only to provisions of the bonds relating to registration.
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 4. General Powers and Duties › 5-1.2-4-16. Bonds; Execution; Manual or Facsimile Signatures

Sec. 16. Any bonds issued by the authority under this article shall be executed by the manual or facsimile, except as otherwise provided in this article, signatures of the officers or agents of the authority that the authority designates. If bonds are issued pursuant to a trust indenture, the manual authentication of each bond by the trustee shall be required. If bonds are issued without a trust indenture or trustee, at least one (1) of the officers or agents of the authority shall manually execute each bond. If any of the members or officers of the authority shall cease to be members or officers of the authority before the delivery of any bonds or coupons signed by them, their signatures or facsimiles shall nevertheless be valid and sufficient for all purposes, the same as if the members or officers had remained in office until the delivery. Pending preparation of the definitive bonds, the authority may issue interim receipts or certificates, which must be exchanged for the definitive bonds.
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 4. General Powers and Duties › 5-1.2-4-17. Personal Liability for Acts Authorized by Affected Statutes

Sec. 17. The members of the authority, the officers and employees of the authority, the public finance director, any agents of the authority, and any other persons executing bonds issued under the referenced statutes are not subject to personal liability or accountability by reason of any act authorized by the referenced statutes, including without limitation the issuance of bonds, the failure to issue bonds, the execution of bonds, and the making of guarantees.
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 4. General Powers and Duties › 5-1.2-4-19. Money; Deposit; Security; Trust Funds

Sec. 19. All money received by the authority, except as provided in the referenced statutes, shall be deposited as soon as practical in a separate account or accounts in banks or trust companies organized under the laws of this state or in national banking associations. The money in these accounts shall be paid out on checks signed by the chair or other officers or employees of the authority that the authority authorizes or by wire transfer or other electronic means authorized by the authority. All deposits of money shall, if required by the authority, be secured in a manner that the authority determines to be prudent, and all banks or trust companies are authorized to give security for the deposits. Notwithstanding any other law to the contrary, all money received pursuant to the referenced statutes is a trust fund to be held and applied solely as provided in the referenced statutes. The resolution authorizing any obligations, or trust agreement or indenture securing the same, may provide that any of the money may be temporarily invested pending the disbursement of the money, and shall provide that any officer with whom or any bank or trust company with which the money is deposited shall act as trustee of the money and shall hold and apply the money for the authorized purposes of the authority, subject to the referenced statutes, the authority's investment policy, and the resolution or trust agreement or indenture.
As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.14.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 4. General Powers and Duties › 5-1.2-4-20. Money for the Payment of Bonds; Contracts; Security

Sec. 20. Notwithstanding section 19 of this chapter, the authority has the power to contract with the holders of any of its bonds as to the custody, collection, securing, investment, and payment of any money of the authority and of any money held in trust or otherwise for the payment of bonds, and to carry out the contract. Money held in trust or otherwise for the payment of bonds or in any way to secure bonds and deposits of money may be secured in the same manner as money of the authority, and all banks and trust companies are authorized to give security for the deposits.
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 4. General Powers and Duties › 5-1.2-4-21. Bonds; Pledge of State

Sec. 21. The state pledges to and agrees with the holder of any bonds issued under this article that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with bondholders or in any way impair the rights or remedies of bondholders until the bonds, together with the interest, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of bondholders, are fully met and discharged. The authority is authorized to include this pledge and agreement of the state in any agreement with the bondholders.
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 4. General Powers and Duties › 5-1.2-4-22. Bonds; Exempt From State Taxes

Sec. 22. Bonds issued under this article and:
(1) proceeds received from their sale by a holder, to the extent of the holder's costs of acquisition;
(2) proceeds received on their redemption before maturity;
(3) proceeds received at their maturity; and
(4) interest received on them;
are exempt from state taxes as provided by IC 6-8-5.
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 4. General Powers and Duties › 5-1.2-4-23. Bonds; Legal Investments; Securities

Sec. 23. The bonds issued under this article by the authority are declared to be legal investments in which all public officers or public bodies of this state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, savings associations, including savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons who are authorized to invest in bonds or in other obligations of this state, may invest funds, including capital, in their control or belonging to them. The bonds are also made securities that may be deposited with and received by all public officers and bodies of this state or any agency or political subdivisions of this state and all municipalities and public commissions for any purpose for which the deposit of bonds or other obligations of this state is authorized by law.
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 4. General Powers and Duties › 5-1.2-4-24. Application of State Laws

Sec. 24. (a) The issuance of bonds and the adoption of rules under the referenced statutes need not comply with the requirements of any other state laws applicable to the issuance of the bonds or adoption of these rules. No proceedings, notice, or approval is required for the issuance of any bonds or any instrument or the security for the bonds or instrument, except as provided in the referenced statutes.
(b) All:
(1) economic development projects for which funds are advanced, loaned, or otherwise provided by the authority under IC 5-1.2-9; and
(2) eligible projects for which funds are loaned by the authority under IC 5-1.2-15.5;
must be in compliance with any land use, zoning, subdivision, and other laws of this state applicable to the land upon which the economic development project or eligible project is located or is to be constructed, but a failure to comply with these laws does not invalidate any bonds issued to finance an economic development project under IC 5-1.2-9 or an eligible project under IC 5-1.2-15.5.
As added by P.L.189-2018, SEC.25. Amended by P.L.204-2023, SEC.4.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 4. General Powers and Duties › 5-1.2-4-25. Bonds; Exempt for Securities Registration

Sec. 25. Any bonds issued by the authority pursuant to this article and any other securities issued in connection with a financing under this article are exempt from the registration and other requirements of IC 23-19 and any other securities registration laws.
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 4. General Powers and Duties › 5-1.2-4-26. Bond Holders; Right to Specific Performance

Sec. 26. Any holder of bonds or any coupons appertaining to the bonds, and the trustee under any trust agreement or resolution authorizing the issuance of the bonds, except to the extent the rights given in this article may be restricted by the trust agreement or resolution, may, either at law or in equity, by suit, action, mandamus, or other proceeding, protect and enforce any and all rights under the laws of Indiana, or under the trust agreement or resolution, or under any other contract executed by the authority under this article, and enforce and compel the performance of all duties required by this article or by the trust agreement or resolution to be performed by the authority or by any officer 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 4. General Powers and Duties › 5-1.2-4-27. Payment of Expenses and Power to Incur Indebtedness; Limitations; Authority Budget

Sec. 27. (a) All expenses incurred by the authority in carrying out the referenced statutes are payable solely from funds provided under the referenced statutes, except to the extent payable from grants or advances from participating providers or any other entity, which grants or advances may be reimbursed from bond proceeds, and nothing in the referenced statutes shall be construed to authorize the authority to incur indebtedness or liability of the state or any political subdivision.
(b) The authority shall annually prepare a budget that allocates the expenses incurred by the authority in an equitable manner among the programs 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 4. General Powers and Duties › 5-1.2-4-28. Property; Tax Exemption

Sec. 28. (a) Except as provided in subsection (b), all property, both tangible and intangible, acquired or held by the authority under the referenced statutes is declared to be public property used for public and governmental purposes, and all the property and income from the property is at all times exempt from all taxes imposed by this state, any county, any city, or any other political subdivision of this state, except for the financial institutions tax imposed under IC 6-5.5.
(b) Property owned by the authority and:
(1) leased to a person for an economic development project; or
(2) financed by a loan;
under IC 5-1.2-9 is not public property. The property and the economic development project are subject to all taxes of this state or any county, city, or other political subdivision of this state in the same manner and subject to the same exemptions that apply to all persons.
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 4. General Powers and Duties › 5-1.2-4-29. Annual Report

Sec. 29. The authority shall, following the close of each fiscal year, submit an annual report of the authority's activities under the referenced statutes for the preceding year to the governor, the budget committee, and the general assembly. A report submitted to the general assembly must be in an electronic format under IC 5-14-6. Each report shall set forth a complete operating and financial statement for the authority during the fiscal year it covers.
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 4. General Powers and Duties › 5-1.2-4-30. Participants May Invest Funds

Sec. 30. Notwithstanding any statute applicable to or constituting any limitation on the investment or reinvestment of funds by or on behalf of political subdivisions:
(1) a participant receiving financial assistance in connection with a program may invest and reinvest funds that constitute, replace, or substitute for the proceeds of bonds or other evidence of indebtedness sold to the authority under the program, together with any account or reserves of a participant not funded with the proceeds of the bonds or other evidence of indebtedness purchased by the authority but that secure or provide payment for those bonds or other evidence of indebtedness, in any instrument or other investment authorized under a resolution of the authority; and
(2) a participant that is obligated to make payments on bonds or other evidence of indebtedness purchased in connection with the operation of a program may invest and reinvest funds that constitute, replace, or substitute for the proceeds of those bonds or other evidence of indebtedness, together with any account or reserves of a participant not funded with the proceeds of the bonds or other evidence of indebtedness purchased under the program but that secure or provide payment for those bonds or other evidence of indebtedness, in any instrument or other investment authorized under a resolution 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 4. General Powers and Duties › 5-1.2-4-31. Borrowing Money From the Authority; Issuing and Selling Bonds to the Authority

Sec. 31. (a) Notwithstanding any other law, a participant may borrow money from the authority for any program by negotiating a loan or other financial assistance directly with the authority and without complying with requirements for the competitive sale of bonds, notes, or other obligations or evidence of indebtedness. A participant shall observe any existing contractual commitments to bondholders or other persons when entering into a financial assistance agreement.
(b) Notwithstanding any other law, a participant may issue and sell notes, the principal and accrued interest on which shall be paid with proceeds from the issuance of bonds or other available money at the time the notes are due. The notes must be issued under a resolution or ordinance and the proceeds must be used to carry out the purposes allowed by the program.
(c) Notwithstanding any other law, a participant may issue and sell bonds to the authority without the requirement of an increase to the user rates and charges of the participant. The bonds must be issued under a resolution or ordinance and the proceeds must be used to carry out the purposes allowed by the program.
(d) A participant that issues notes under subsection (b) may renew or extend the notes periodically on terms agreed to with the authority, and the authority may purchase and sell the renewed or extended notes. 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.
(e) The notes issued by a participant under subsection (b), including any renewals or extensions, must mature:
(1) in the amounts; and
(2) at the times not exceeding four (4) years from the date of original issuance;
that are agreed to by the participant and the authority.
(f) Compliance with subsection (b) or (c) constitutes full authority for a participant to issue notes or bonds and sell the notes or bonds to the authority, and the participant is not required to pay any fees or comply with any other law applicable to the authorization, approval, issuance, and sale of the notes, including, without limitation, IC 8-1-2-79. The notes or bonds are:
(1) valid and binding obligations of the participant;
(2) enforceable in accordance with the terms of the notes or bonds; and
(3) payable solely from the sources specified in the resolution or ordinance authorizing the issuance of the notes or bonds.
(g) If the participant issues bonds, all or part of the proceeds of which will be used to pay notes issued under subsection (b), the:
(1) provisions of this section; or
(2) actual issuance by a participant of notes under subsection (b);
do not relieve the participant of the obligation to comply with the statutory requirements for the issuance of bonds.
As added by P.L.189-2018, SEC.25. Amended by P.L.224-2023, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 4. General Powers and Duties › 5-1.2-4-32. Liability

Sec. 32. (a) Notwithstanding any other law, the authority, program, or program related fund, or any person or agent acting on behalf of the authority, the program, or the program related fund, is not liable in damages or otherwise to any participant or party seeking to be a participant for any act or omission in connection with a loan or other financial assistance, or any application, service, or other undertaking, allowed by or taken under this article applicable to any program or any related fund or under any financial assistance agreement or related agreement or understanding.
(b) No direction given by or service or other undertaking allowed or taken under this article applicable to any program or related fund or under any financial assistance agreement or related agreement or understanding by the authority is a defense for or otherwise excuses any act or omission of a participant otherwise required or imposed by law upon a participant under any chapter applicable to any program or related fund or under any financial assistance agreement or related agreement or understanding.
As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.15.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 4. General Powers and Duties › 5-1.2-4-33. Financial Assistance Agreement; Default by the Participant

Sec. 33. (a) Notwithstanding any other law and if provided in a financial assistance agreement related to any program, any state department or state agency, including the treasurer of state:
(1) that is the custodian of money payable to a participant, other than money in payment for goods or services provided by the participant; and
(2) after written notice from the public finance director that the participant is in default on the payment of principal of or interest on a loan or evidence of other financial assistance related to any program owed to the authority;
may withhold payment of money from that participant and pay over the money to the authority as directed by the public finance director, for the purpose of curing the default.
(b) The withholding of payment from the participant and payment to the authority may not adversely affect 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 4. General Powers and Duties › 5-1.2-4-34. Violations; Material Misstatement in Application

Sec. 34. A person who, with intent to defraud, knowingly or intentionally makes a material misstatement in connection with an application for a loan or other financial assistance pursuant to any program commits a Level 6 felony.
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 4. General Powers and Duties › 5-1.2-4-35. Annual Report

Sec. 35. The public finance director shall prepare an annual report that provides an update on transportation projects in which the authority is involved. The report must be submitted to the legislative council 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 4. General Powers and Duties › 5-1.2-4-36. State Debt Management Plan; Established by the Authority

Sec. 36. The authority, after consulting with the treasurer of state, the Indiana bond bank, the budget agency, and the commission for higher education, shall establish and periodically update a state debt management plan. The plan must include at least the following provisions with respect to debt issued or to be issued by the authority, other bodies corporate and politic of the state, and state educational institutions:
(1) An inventory of existing debt.
(2) Projections of future debt obligations.
(3) Recommended criteria for the appropriate use of debt as a means to finance capital projects.
(4) Recommended strategies to minimize costs associated with debt issuance.
(5) An analysis of the impact of debt issued by all bodies corporate and politic and state educational institutions on the state budget.
(6) Recommended guidelines for the prudent issuance of debt that creates a moral obligation of the state to pay all or part of the debt.
(7) Recommended policies for the investment of:
(A) proceeds of bonds, notes, or other obligations issued by bodies corporate and politic and state educational institutions; and
(B) other money, funds, and accounts owned or held by a body corporate and politic.
(8) Recommended policies for the establishment of a system of record keeping and reporting to meet the arbitrage rebate compliance requirements of the Internal Revenue Code.
(9) Recommended policies for the preparation of financial disclosure documents, including official statements accompanying debt issues, comprehensive annual financial reports, and continuing disclosure statements. The recommended policies must include a provision for approval by the budget director of any statements or reports that include a discussion of the state's economic and fiscal condition.
(10) Potential opportunities to more effectively and efficiently authorize and manage debt.
(11) Recommendations to the budget director, the governor, and the general assembly with respect to financing of capital projects.
The recommendations to the general assembly under subdivision (11) must be 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 4. General Powers and Duties › 5-1.2-4-37.5. Annual Report on Drinking Water Testing for Lead

Sec. 37.5. (a) The public finance director shall prepare an annual report that provides information on the programs of the authority under which the drinking water in schools, preschools, and child care facilities is tested for the presence of lead.
(b) The report required by this section:
(1) must provide information on:
(A) the number of schools, preschools, and child care facilities in which the drinking water has been tested for the presence of lead under a program of the authority;
(B) the actions taken through a program of the authority to eliminate the danger of lead contamination in the drinking water of schools, preschools, and child care facilities; and
(C) the funds available to the authority to conduct further drinking water testing and remediation actions under the programs; and
(2) may include other information and recommendations concerning remediation of the exposure of children to lead in drinking water.
(b) The report required by this section must be submitted to the general assembly in an electronic format under IC 5-14-6.
As added by P.L.125-2023, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 4.5. Public-Private Agreements and Certain Other Agreements › 5-1.2-4.5-1. Applicability; Extension or Amendment; Approval; Review by the Budget Committee

Sec. 1. (a) This section applies to a public-private agreement to which the authority is a party under IC 8-15.5 and that was originally entered into before January 1, 2013.
(b) If an extension or an amendment to a public-private agreement, which is proposed to be entered into after May 1, 2019, would require the approval of the authority at a meeting of the authority before taking effect, the authority shall submit the proposed extension or amendment to the public-private agreement to the budget committee established by IC 4-12-1-3 for its review. The budget committee may request that the authority or the department of transportation, or both, appear at a public meeting of the budget committee concerning the proposed extension or amendment to the public-private agreement. The authority may not enter into any extension or amendment to the public-private agreement until after the budget committee has reviewed the proposed extension or amendment.
(c) If the authority or the state receives a lump sum payment or a series of payments totaling more than one million dollars ($1,000,000) as a result of entering into any extension or amendment to the public-private agreement in accordance with subsection (b), any amount of that payment that is not obligated to cover any obligation incurred or amounts owed by the authority or the state before the date of the extension or amendment shall be deposited in a special payment reserve fund to be administered by the authority.
(d) The money in the special payment reserve fund at the end of any state fiscal year does not revert to any other fund.
(e) The authority shall invest or cause to be invested all the money in the special payment reserve fund in one (1) or more fiduciary accounts with a trustee that is a financial institution in accordance with the authority's investment policy.
(f) The special payment reserve fund may not be used for any purpose before May 1 of the year following the year in which the payment was received. Thereafter, unless the use of the fund is otherwise specified by law, the money in the fund shall be allocated and distributed to the fund into which the payment would have otherwise been deposited under IC 8-15.5.
As added by P.L.108-2019, SEC.82.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 4.5. Public-Private Agreements and Certain Other Agreements › 5-1.2-4.5-2. Applicability; Extension or Amendment; Threshold Amounts; Review by the Budget Agency

Sec. 2. (a) This section applies to:
(1) a public-private agreement to which the authority is a party under IC 8-15.5 and that is originally entered into after May 1, 2019; and
(2) any other agreement to which the authority or the state is a party under any provision of the Indiana Code, other than IC 8-15.5, that would increase revenue as the result of the sale or lease of a state asset, or a grant of a license to operate a state asset, and that is entered into after May 1, 2020.
(b) If:
(1) an extension or an amendment to a public-private agreement described in subsection (a)(1) would increase the amount to be:
(A) paid by the authority to the operator, another private entity, or a governmental entity by at least one hundred million dollars ($100,000,000); or
(B) received by the operator or a party related to the operator by at least one hundred million dollars ($100,000,000); or
(2) an agreement described in subsection (a)(2) would increase revenue by at least one hundred million dollars ($100,000,000) as the result of the sale or lease of a state asset, or a grant of a license to operate a state asset;
the authority or the state shall submit the proposed extension or amendment to the public-private agreement described in subdivision (1) or the proposed agreement described in subdivision (2) to the budget committee established by IC 4-12-1-3 for its review.
(c) The budget committee may request that the authority, the department of transportation, or both, or the state, as applicable, appear at a public meeting of the budget committee concerning the proposed extension or amendment to the public-private agreement described in subsection (a)(1) or the proposed agreement described in subsection (a)(2). The authority or the state may not enter into any extension or amendment to the public-private agreement described in subsection (a)(1) or the proposed agreement described in subsection (a)(2) until after the budget committee has reviewed the proposed extension or amendment to the public-private agreement described in subsection (a)(1) or the proposed agreement described in subsection (a)(2).
As added by P.L.108-2019, SEC.82. Amended by P.L.159-2020, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 5. State Facility Financing › 5-1.2-5-2. Facilities for State Agencies; Request; Findings; Authorization

Sec. 2. At the request of the department of administration, the authority may provide for facilities for state agencies or branches of state government if the general assembly, by statute:
(1) finds that the state needs renovation, refurbishing, or alteration of existing facilities or construction of additional facilities; and
(2) authorizes the authority to provide for the facilities.
In providing for the facilities, the authority shall proceed under this chapter.
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 5. State Facility Financing › 5-1.2-5-3. Authorization to Transfer Real Property; Department of Administration

Sec. 3. To accomplish the governmental purposes of this chapter, the department of administration or applicable state agency may convey, transfer, or sell, with or without consideration, real property (including the buildings, structures, and improvements), title to which is held in the name of the state, to the authority, without being required to advertise or solicit bids or proposals.
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 5. State Facility Financing › 5-1.2-5-4. Department of Administration; Contracts With the Authority; State Facility Projects

Sec. 4. The department of administration may enter into a contract with the authority to renovate, refurbish, or alter a state facility owned by the state without advertising or soliciting bids or proposals under IC 4-13.6 or IC 5-22. However, in accomplishing the project to renovate, refurbish, or alter a state facility owned by the state, the authority shall comply with IC 4-13.5-1-8.
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 5. State Facility Financing › 5-1.2-5-5. Authority May Borrow Money

Sec. 5. The authority may borrow money from the public deposits insurance fund, a bank, an insurance company, an investment company, or any other person to carry out this chapter. The authority shall negotiate the terms of the loan contract.
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 5. State Facility Financing › 5-1.2-5-6. Authority May Issue and Sell Bonds

Sec. 6. (a) For the purpose of providing money to carry out the provisions of this chapter with respect to:
(1) the construction and equipment of a state facility;
(2) acquiring or providing a site or sites; or
(3) the refunding of any bonds or payment of any loan contract of the authority;
the authority may, by resolution, issue and sell interest-bearing revenue bonds of the authority.
(b) The proceeds of the revenue bonds are appropriated for and may be used for the purpose for which the bonds may be issued under this chapter. The proceeds shall be deposited and disbursed in accordance with any provisions and restrictions that the authority may provide in:
(1) the resolution or trust indenture authorizing:
(A) the issuance of the bonds in the first instance; or
(B) the issuance of any refunding bonds; or
(2) a trust indenture authorized and approved by resolution 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 5. State Facility Financing › 5-1.2-5-7. Authority May Enter Into Contracts; Exempt From Certain Rules

Sec. 7. Except for persons the authority considers necessary to prepare complete plans and specifications necessary for bidding for construction, the authority may not enter into:
(1) a contract for the performance of work, other than a contract of employment with a professional person or a commission employee; or
(2) a contract for the purchase or sale of materials or supplies;
without complying with IC 4-13-2 and the rules and procedures of the department of administration.
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 5. State Facility Financing › 5-1.2-5-8. Approval of Plans; Department of Administration

Sec. 8. (a) The authority shall consider economy of operation to the extent practicable in preparing and approving plans and specifications. The authority shall present plans and specifications for a state facility for approval to the department of administration and:
(1) if the state facility is designed to house the supreme court or court of appeals, the administrator of the supreme court for approval by the courts; and
(2) if the state facility is a correctional facility, the department of correction.
(b) After the plans and specifications have been approved by the authority under subsection (a), the authority shall advertise for and receive construction bids and award contracts to the best bidders in the same manner as required by law for the department of administration.
(c) With regard to participation by minority and women's business enterprises (as defined in IC 4-13-16.5-1), the authority shall act in the same manner as required by law for the department of administration.
As added by P.L.189-2018, SEC.25. Amended by P.L.15-2020, SEC.12.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 5. State Facility Financing › 5-1.2-5-9. Allocation of Space; Department of Administration; Department of Correction

Sec. 9. Except with respect to a correctional facility, the department of administration shall allocate space in each state facility to state agencies and departments of state government. The department of correction shall allocate space in correctional facilities under IC 11.
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 5. State Facility Financing › 5-1.2-5-10. Condemnation of Property; Procedures

Sec. 10. If the authority is unable to agree with the owners, lessees, or occupants of any real property selected for the purposes of this chapter, the authority may proceed to procure the condemnation of the property under IC 32-24-1. The authority may not institute a proceeding until the authority has adopted a resolution that:
(1) describes the real property sought to be acquired and the purpose for which the real property is to be used;
(2) declares that the public interest and necessity require the acquisition by the authority of the property involved; and
(3) sets out any other facts that the authority considers necessary or pertinent.
The resolution is conclusive evidence of the public necessity of the proposed acquisition and shall be referred to the attorney general for action, in the name of the authority, in the circuit or superior court of the county in which the real property is located.
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 5. State Facility Financing › 5-1.2-5-11. Use and Occupancy Agreements; Negotiation; Terms

Sec. 11. (a) Before or after the award of construction contracts, or the arranging of financing, the authority and the department of administration may negotiate a use and occupancy agreement. The budget agency, after consulting with the budget committee, must approve any use and occupancy agreement before the department of administration may execute the agreement. The use and occupancy agreement:
(1) must set forth the terms and conditions of the use and occupancy;
(2) must set forth the amounts agreed to be paid at stated intervals for the use and occupancy;
(3) must provide that the department of administration is not obligated to continue to pay for the use and occupancy but is instead required to vacate the state facility if it is shown that the terms and conditions of the use and occupancy and the amount to be paid for the use and occupancy are unjust and unreasonable considering the value of the services and facilities being provided;
(4) must provide that the department of administration is required to vacate the state facility if funds have not been appropriated or are not available to pay any sum agreed to be paid for use and occupancy when due;
(5) may provide for costs such as maintenance, operations, taxes, and insurance to be paid by the department of administration;
(6) may contain an option to renew the agreement;
(7) may contain an option to purchase the state facility for an amount equal to the amount required to pay the principal of and interest on indebtedness of the authority incurred on account of the state facility and expenses of the authority attributable to the state facility;
(8) may not provide for payment of sums for use and occupancy until the construction of the state facility has been completed and the state facility is available for use and occupancy by the department of administration; and
(9) may contain any other provisions agreeable to the authority and the department of administration.
(b) In determining just and reasonable amounts to be paid for the use and occupancy of the state facility under subsection (a)(3), the authority shall impose and collect amounts that in the aggregate will be sufficient to:
(1) pay the expenses of operation, maintenance, and repair of the state facility, to the extent that the expenses are not otherwise provided; and
(2) leave a balance of revenues from the state facility to pay the principal of and interest (including any reserve or sinking funds) on bonds or loans as they become due and retire them at or before maturity.
(c) The department of administration may negotiate and execute a use and occupancy agreement for all or any state agencies or branches of state government.
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 5. State Facility Financing › 5-1.2-5-12. State Facilities; Operation; Maintenance; Repair

Sec. 12. Unless the use and occupancy agreement provides otherwise, the department of administration shall provide for the operation, maintenance, and repair of each state facility.
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 5. State Facility Financing › 5-1.2-5-13. Authorized Projects by the General Assembly

Sec. 13. (a) The general assembly authorizes the authority to continue to undertake and complete a project for the construction, equipping, purchasing, or leasing for Central Indiana Neuro-Diagnostic Institute and Advanced Treatment Center to replace the Larue D. Carter Memorial Hospital, including the borrowing of money or the issuance and sale of bonds, or both.
(b) This section does not authorize any:
(1) additional construction; or
(2) issuance of additional bonds or other evidence of indebtedness;
other than as described in subsection (a).
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 6. Recreational Development Facilities and Park Projects › 5-1.2-6-1. Recreational Facilities and Park Projects; Request; Findings; Authorization

Sec. 1. At the request of the department of natural resources, the authority may provide for recreational facilities and park projects if the general assembly, by statute:
(1) finds that the state needs renovation, refurbishing, or alteration of a recreational facility or park project or the construction of a new recreational facility or park project; and
(2) authorizes the authority to provide for the recreational facility or park project.
In providing for the recreational facility or park project, the authority shall proceed under this chapter.
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 6. Recreational Development Facilities and Park Projects › 5-1.2-6-2. Purposes

Sec. 2. The general purposes of this chapter are the following:
(1) To provide for the general health and welfare of Indiana citizens by the acquisition, construction, improvement, and operation of public recreational facilities.
(2) To facilitate, support, and promote the development and use of the parks 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 6. Recreational Development Facilities and Park Projects › 5-1.2-6-4. Authority's Exercise of Powers an Essential Governmental Function

Sec. 4. The exercise by the authority of the powers conferred by this chapter in the acquisition, construction, improvement, operation, and maintenance of a park project is an essential governmental function 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 6. Recreational Development Facilities and Park Projects › 5-1.2-6-5. Authority May Acquire Sites; Make Improvements; Enter Into Use Agreements; Department of Natural Resources; Approval Required

Sec. 5. (a) The authority may acquire sites or improvements from the department of natural resources.
(b) The authority may make improvements and enter into agreements for use with the department of natural resources. The agreements:
(1) do not need to be approved by the attorney general; and
(2) must be approved by the:
(A) budget agency, after consulting with the budget committee; and
(B) governor;
before the department of natural resources may execute the agreement.
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 6. Recreational Development Facilities and Park Projects › 5-1.2-6-6. Authority May Lease Property to the Department of Natural Resources; Lease Terms

Sec. 6. The authority may lease property to the department of natural resources and others. A lease:
(1) may provide for the operation, maintenance, improvement, or renovation of the property;
(2) must contain standards for operation, quality of goods and services, and price of goods and services;
(3) need not be approved by the attorney general or the governor;
(4) may be executed by the:
(A) chair or vice chair of the authority; and
(B) public finance director; and
(5) is binding on the state after advertisement one (1) time a week for two (2) weeks in two (2) newspapers published in Indianapolis. The first publication must be at least fourteen (14) days before a public hearing by the authority, and the proposed lease must be on file in the department of natural resources during the period of publication.
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 6. Recreational Development Facilities and Park Projects › 5-1.2-6-7. Public Notice and Bidding Required for Certain Contracts

Sec. 7. If the cost of a contract for construction or for the purchase of equipment, materials, or supplies involves an expenditure of more than twenty thousand dollars ($20,000), the authority shall make a written contract with the lowest and best bidder after advertisement for not less than two (2) consecutive weeks in a newspaper of general circulation in Marion County, Indiana, and in other publications if the authority determines appropriate. The notice must state the general character of the work and the general character of the materials to be furnished, the place where the plans and specifications may be examined, and the time and place for receiving bids. Each bid must contain the full name of every person or company interested in the bid and must be accompanied by a sufficient bond or certified check on a solvent bank so that if the bid is accepted, a contract will be entered into and the performance of the bidder's proposal secured. The authority may reject any and all bids. A bond with good and sufficient surety approved by the authority is required of all contractors in an amount equal to at least fifty percent (50%) of the contract price conditioned upon the faithful performance of the contract.
As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.16.
2023 Indiana Code › Title 5. State and Local Administration › Article 1.2. Indiana Finance Authority › Chapter 6. Recreational Development Facilities and Park Projects › 5-1.2-6-8. Authority May Acquire Interests in Land From Department of Natural Resources; Park Project Requirements

Sec. 8. (a) The authority may acquire by:
(1) department of natural resources transfer;
(2) purchase; or
(3) lease;
for nominal or substantial consideration any interest in land, including existing facilities, adjuncts, and appurtenances, that the authority considers necessary or convenient for the acquisition, construction, improvement, or development of a park project.
(b) A park project undertaken by the authority must:
(1) comply with:
(A) the master plan for that property; or
(B) the Indiana outdoor recreation plan approved by the natural resources commission; or
(2) be specifically approved by the natural resources commission.
As added by P.L.189-2018, SEC.25.