# Ind. Code § 5-1.5-8-1: Purchase of securities offered by qualified entity; private sale; issuance of bonds and notes for purpose of purchase

> Indiana · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-1

## Section

- **Citation:** Ind. Code § 5-1.5-8-1
- **Heading:** Purchase of securities offered by qualified entity; private sale; issuance of bonds and notes for purpose of purchase
- **Jurisdiction:** Indiana
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Indiana Code / Title 5 / Article 1.5 / Chapter 8 / Section 5-1.5-8-1

## Text

Sec. 1. The bank, to carry out the purposes and policies of this article, may purchase securities of the qualified entity, including any securities issued by a school corporation to refund bonds or other obligations that were issued or entered into by a school corporation before that school corporation completed a consolidation or merger under IC 20-23 or any other law. Notwithstanding any law to the contrary, a qualified entity may sell its securities to the bank at a negotiated, private sale. The bank, for this purpose, may issue its bonds and notes payable solely from the revenues or funds available to the bank for such payment and may otherwise assist qualified entities as provided in this article.

As added by P.L.25-1984, SEC.1. Amended by P.L.28-1992, SEC.3; P.L.140-2014, SEC.1.

## Nearby sections

- [Ind. Code § 5-1.5-8-1 Purchase of securities offered by qualified entity; private sale; issuance of bonds and notes for purpose of purchase](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-1.md)
- [Ind. Code § 5-1.5-8-2 Securities to be purchased and held in name of bank; required documentation](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-2.md)
- [Ind. Code § 5-1.5-8-3 Contracts with bank; terms and conditions; fees and charges; denomination and prices](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-3.md)
- [Ind. Code § 5-1.5-8-4 Agreement with bank; waiver of statutory defenses to nonpayment; rights and remedies of bank](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-4.md)
- [Ind. Code § 5-1.5-8-5 Department or agency of state as custodian of money payable to qualified entity; duty on default on payment of principal or interest by qualified entity](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-5.md)
- [Ind. Code § 5-1.5-8-5.1 Authorization to convey revenue or taxes to issuing entity](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-5.1.md)
- [Ind. Code § 5-1.5-8-6 Repealed](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-6.md)
- [Ind. Code § 5-1.5-8-6.1 Anticipation notes; issuance and purchase](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-6.1.md)
- [Ind. Code § 5-1.5-8-7 Investment and reinvestment; securities sold to bank](https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-7.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_IN_T5_A1.5_C8_S5-1.5-8-1. Check the current official text before relying on it. Not legal advice.