{"data":{"id":"us-in/ic-5-1.2-4-5","jurisdiction":"us-in","citation":"IC 5-1.2-4-5","heading":"Requirements; establishment of terms governing reserves or funding levels","body":"Sec. 5. (a) This section does not apply to any indebtedness issued by the authority if:\n(1) the proceeds will be used for a project that has been specifically authorized by the general assembly; or\n(2) the indebtedness is authorized under the referenced statutes.\n(b) Notwithstanding any other law in effect before:\n(1) the authority issues indebtedness that establishes a procedure for the authority or a person acting on behalf of the authority to certify to the general assembly the amount needed to restore a debt service reserve fund or another fund to a required level; or\n(2) execution by the authority of any other agreement that creates a moral obligation of the state to pay all or any part of any indebtedness issued by the authority;\nthe authority is subject to, and shall comply with, to the extent practicable, the requirements set forth in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h) as if the authority were specifically named in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h).\n(c) In addition:\n(1) indebtedness described in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h) is considered a reference to an indebtedness or agreement referred to in this section; and\n(2) a qualified entity referred to in IC 5-1.5-5-4(c) through IC 5-1.5-5-4(h) is considered a reference to a borrower of any indebtedness and to any other parties referred to in this section.","path":["TITLE 5. STATE AND LOCAL ADMINISTRATION","ARTICLE 1.2. INDIANA FINANCE AUTHORITY","Chapter 4. General Powers and Duties"],"source_url":"https://iga.in.gov/ic/2026/Title_5.html#5-1.2-4-5","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-02T16:11:39Z","sha256":"c03d1a34dcb8ae8a714984b7c074b40edd48483b274e51c1b6b3a1e0a403f7cb","source_id":"us-in","stale":false,"prev":"us-in/ic-5-1.2-4-4","next":"us-in/ic-5-1.2-4-6"},"notice":"GroundRules: Original legal text. Not legal advice."}