2024 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

Universal Citation:
IN Code § 5-1.2-15.5-20 (2024)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

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.

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