Ind. Code § 5-1.2-15.5-20
Alternative of providing leveraged loan program
Indiana · Indiana Code Title 5 — State and Local Administration · Status: effective
Cite this
- Citation
- Ind. Code § 5-1.2-15.5-20, Alternative of providing leveraged loan program, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1606151
- Permanent ID
ys:prov:1606151@1- SHA-256
5f02dc6fe844f7a64a6941aaf9d07502229718167b1d7232477137a81573903f
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
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.