# Ind. Code § 5-1.2-4-5: Requirements; establishment of terms governing reserves or funding levels

> Indiana · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-5

## Section

- **Citation:** Ind. Code § 5-1.2-4-5
- **Heading:** Requirements; establishment of terms governing reserves or funding levels
- **Jurisdiction:** Indiana
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Indiana Code / Title 5 / Article 1.2 / Chapter 4 / Section 5-1.2-4-5

## Text

Sec. 5. (a) This section does not apply to any indebtedness issued by the authority if:

(1) the proceeds will be used for a project that has been specifically authorized by the general assembly; or

(2) the indebtedness is authorized under the referenced statutes.

(b) Notwithstanding any other law in effect before:

(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

(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;

the 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).

(c) In addition:

(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

(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.

As added by P.L.189-2018, SEC.25. Amended by P.L.259-2019, SEC.1.

## Nearby sections

- [Ind. Code § 5-1.2-4-1 Powers of Indiana finance authority](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-1.md)
- [Ind. Code § 5-1.2-4-2 Prohibited activities](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-2.md)
- [Ind. Code § 5-1.2-4-3 Issuance of bonds or notes; failure to pay obligations](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-3.md)
- [Ind. Code § 5-1.2-4-4 Additional authority powers; capital improvements; northwest Indiana regional development authority; motorsports investment district; local innovation development district](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-4.md)
- [Ind. Code § 5-1.2-4-5 Requirements; establishment of terms governing reserves or funding levels](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-5.md)
- [Ind. Code § 5-1.2-4-6 Power to borrow money and issue bonds](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-6.md)
- [Ind. Code § 5-1.2-4-7 Bonds; liability of authority; pledges as additional security](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-7.md)
- [Ind. Code § 5-1.2-4-8 Bonds; liability of state](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-8.md)
- [Ind. Code § 5-1.2-4-9 Bonds; issuance; procedure; terms](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-9.md)
- [Ind. Code § 5-1.2-4-10 Bonds; authorized provisions](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-10.md)
- [Ind. Code § 5-1.2-4-11 Bonds; issue to renew or pay bonds; refund](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-11.md)
- [Ind. Code § 5-1.2-4-12 Pledges](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-12.md)
- [Ind. Code § 5-1.2-4-13 Bonds; purchase by authority](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-13.md)
- [Ind. Code § 5-1.2-4-14 Bonds; trust agreement or indenture](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.2_C4_S5-1.2-4-5. Check the current official text before relying on it. Not legal advice.