Indiana § 5-19-1-4 - Definitions

§ 5-19-1-4. Definitions

Sec. 4. The following words and phrases, as used in this chapter, shall, for the purposes of this chapter, unless a different meaning appears from the context, have the following meanings:

(a) The singular shall include the plural and the plural shall include the singular as requisite.

(b) The term "state" shall mean and include the state of Indiana, the governor of the state of Indiana, any agency of the state of Indiana designated by the governor to receive federal aid, and any officer, board, bureau, commission, division, or department. The term "governor" shall mean the governor of the state of Indiana.

(c) The term "political subdivision" shall mean and include any county of Indiana, any civil township of Indiana, any civil incorporated city or town of Indiana, any school corporation of any township, city, or town of Indiana, or any other territorial subdivision of the state recognized or designated in any law, any public utility entity not privately owned, any public sewage disposal entity, any public flood control or levee district or entity, any public drainage district or entity, any public sanitary district or entity, and any public improvement district authority or entity authorized to levy taxes or assessments.

Formerly: Acts 1947, c.178, s.5. As amended by P.L.25-1986, SEC.102.

IC 5-19-1.5Chapter 1.5. Grant Anticipation Notes

5-19-1.5-1Definitions 5-19-1.5-2Authorization; terms 5-19-1.5-3Maximum amounts; prepayment upon receipt of grants 5-19-1.5-4Sale 5-19-1.5-5Application of proceeds 5-19-1.5-6Tax exemption 5-19-1.5-7Indiana economic development corporation; authorization to make grant anticipation loans 5-19-1.5-8Advertisements for bids; inclusion of notice of financing under chapter

IC 5-19-1.5-1Definitions Sec. 1. As used in this chapter:

(a) The term "borrower" means any county, any incorporated city or town, any special taxing district, any regional sewer or water district, all other political units now existing or hereafter created, and any not-for-profit corporation eligible for federal or state grants.

(b) The term "governing body" means the legislative body of the borrower.

(c) The term "grant" means any moneys to be received from the United States government or any of its agencies, or the state of Indiana, or any of its agencies, intended to be used for the construction of facilities for any waterworks systems or facilities for sewage works system, or the construction or improvement of any other public works which the borrower may lawfully undertake as to which a grant has been made by the granting agency.

(d) The term "person" means any person, firm, corporation, limited liability company, governmental agency, or lending institution.

(e) The term "project" means the facilities, public works or undertaking for which the grant is made applicable.

As added by Acts 1981, P.L.61, SEC.1. Amended by P.L.8-1993, SEC.71.

IC 5-19-1.5-2Authorization; terms Sec. 2. Any borrower to which a grant has been allocated, pending the receipt thereof, but within the limitation set forth in this chapter, may borrow from any person and evidence the debt so incurred by a note, or a series of notes of equal or unequal amounts, executed by at least two (2) officers or one (1) officer and one (1) employee as authorized by the governing body of the borrower and containing such terms and provisions as may be prescribed by the governing body of the borrower. Any note shall mature not more than three (3) years from the date of issuance and may pledge for the payment of the principal and interest therefor, the proceeds of the grant and any revenue which may be derived from the facility being constructed or improved by the proceeds of the note or notes. However, no amounts may be borrowed in anticipation of a grant until a written contract is received from the grantor indicating that the grant is forthcoming.

As added by Acts 1981, P.L.61, SEC.1.

IC 5-19-1.5-3Maximum amounts; prepayment upon receipt of grants Sec. 3. The maximum amount of any loan made pursuant to this chapter shall not exceed eighty percent (80%) of the estimated amount of the grant in anticipation of which the loan is made. Further, the borrower shall make prepayments on the outstanding balance of its note, or retire one (1) or more of its series of outstanding notes, promptly upon partial receipt of grant funds so that the outstanding amount of any loan made pursuant to the provisions of this chapter shall not exceed the balance of the grant funds yet to be received.

As added by Acts 1981, P.L.61, SEC.1.

IC 5-19-1.5-4Sale Sec. 4. The governing body may arrange the issuance and sale of grant anticipation notes either at a public or a private negotiated sale.

As added by Acts 1981, P.L.61, SEC.1.

IC 5-19-1.5-5Application of proceeds Sec. 5. It shall be the duty of the governing body to apply the proceeds of any obligations issued pursuant to this chapter to those items of cost for which the grant has been allocated by the granting agencies, or as to revenue sharing funds, by the governing body. The purchaser of any obligations shall not be liable for the proper application of the proceeds, or to insure that the maximum amount of the loan stays within the maximum limits as grant funds are from time to time received by the borrower.

As added by Acts 1981, P.L.61, SEC.1.

IC 5-19-1.5-6Tax exemption Sec. 6. All obligations issued pursuant to this chapter and all interest to accrue thereon shall have the tax exempt status prescribed by IC 6-8-5.

As added by Acts 1981, P.L.61, SEC.1.

IC 5-19-1.5-7Indiana economic development corporation; authorization to make grant anticipation loans Sec. 7. Notwithstanding anything to the contrary in IC 5-28-8, the Indiana economic development corporation may make grant anticipation loans as authorized by this chapter from the fund established by IC 5-28-8-5.

As added by Acts 1981, P.L.61, SEC.1. Amended by P.L.4-2005, SEC.30.

IC 5-19-1.5-8Advertisements for bids; inclusion of notice of financing under chapter Sec. 8. A borrower may not finance a project with loans authorized by this chapter unless that fact is included in all advertisements for bids for construction work on that project.

As added by Acts 1981, P.L.61, SEC.1.

IC 5-20ARTICLE 20. HOUSING

Ch. 1.Indiana Housing and Community Development Authority Ch. 2.Financing of Housing Ch. 3.Mutual Housing Associations Ch. 4.Affordable Housing and Community Development Fund Ch. 5.Indiana Affordable Housing Fund Ch. 6.Foreclosure Prevention Counseling and Assistance Ch. 7.Repealed Ch. 8.Repealed Ch. 9.Indiana Housing First Program Ch. 10.Expired

IC 5-20-1Chapter 1. Indiana Housing and Community Development Authority

5-20-1-1Legislative findings and declaration of public policy 5-20-1-2Definitions 5-20-1-3Authority creation; membership; terms; expenses; references to Indiana housing finance authority 5-20-1-3.5Surety bonds 5-20-1-4Powers of the authority 5-20-1-4.1Repealed 5-20-1-4.5Housing for special needs populations; allocation of federal low income housing credits 5-20-1-4.7Expired 5-20-1-5Repealed 5-20-1-6Repealed 5-20-1-7State not liable for obligations of the Indiana housing and community development authority 5-20-1-8Authorization to use revenue bond financing; approval of public finance director required 5-20-1-9Trust agreements to secure authority obligations 5-20-1-10Pledge of authority assets to obligations of the authority 5-20-1-11Receipts as trust funds; investment 5-20-1-12Enforcement of authority duties; rights of holders of authority obligations 5-20-1-13Declaration of negotiability of authority obligations 5-20-1-14Authority obligations as authorized investments 5-20-1-15Authorization for issuance of refunding obligations 5-20-1-16Capital reserve fund 5-20-1-17State power to alter authority; pledge against impairment of authority contracts 5-20-1-18Annual report; annual audit 5-20-1-19Limitation of liability; authority members or officers 5-20-1-20Authority to accept and expend funds 5-20-1-21Tax exempt status 5-20-1-22Disclosure of conflicts of interest 5-20-1-23Authority assets; disposition upon termination or dissolution 5-20-1-24Chapter as supplemental to other laws 5-20-1-25Liberal construction 5-20-1-26Chapter controlling 5-20-1-27Home ownership education account established 5-20-1-28Continuum of Care program; eligibility criteria; reporting requirements 5-20-1-28.5Annual local housing progress report 5-20-1-29Annual local housing status report