{"data":{"id":"us-in/ic-5-1.4-2-1","jurisdiction":"us-in","citation":"IC 5-1.4-2-1","heading":"Local public improvement bond bank; establishment; nature; purpose","body":"Sec. 1. (a) In a city there is established a local public improvement bond bank, to be known as \"The ____________ (name of city) __________ Local Public Improvement Bond Bank\", for:\n(1) the public purposes set out in this article; and\n(2) in the case of a city described in IC 5-1.4-1-5(3), the additional public purposes of:\n(A) developing infrastructure;\n(B) promoting education and tourism; and\n(C) assisting economic development.\n(b) The bank is a body corporate and politic separate from the city in its corporate capacity.\n(c) The purpose of the bank is to buy and sell securities of qualified entities.","path":["TITLE 5. STATE AND LOCAL ADMINISTRATION","ARTICLE 1.4. LOCAL PUBLIC IMPROVEMENT BOND BANKS","Chapter 2. Establishment and Organization"],"source_url":"https://iga.in.gov/ic/2026/Title_5.html#5-1.4-2-1","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-02T16:11:39Z","sha256":"57c39196d8c161496f973831a93a49c423a1c8716db41ecce56a147ff5fd1325","source_id":"us-in","stale":false,"prev":"us-in/ic-5-1.4-1-12","next":"us-in/ic-5-1.4-2-1.5"},"notice":"GroundRules: Original legal text. Not legal advice."}