Ind. Code ch. 5-1.4-1

in effect

Ind. Code § 5-1.4-1-1 Application

Sec. 1. The definitions in this chapter apply throughout this article. As added by P.L.42-1985, SEC.1.

Ind. Code § 5-1.4-1-2 "Bank"

Sec. 2. "Bank" refers to the local public improvement bond bank established under IC 5-1.4-2-1. As added by P.L.42-1985, SEC.1.

Ind. Code § 5-1.4-1-3 "Board"

Sec. 3. "Board" refers to the board of directors established under IC 5-1.4-2-2. As added by P.L.42-1985, SEC.1.

Ind. Code § 5-1.4-1-4 "Bond"

Sec. 4. "Bond" refers to a bond of the bank issued under this article. As added by P.L.42-1985, SEC.1.

Sec. 5. "City" refers to any of the following: (1) A consolidated city. (2) A second class city. (3) A city having a population of more than five thousand (5,000) and less than five thousand one hundred thirty (5,130). As added by P.L.42-1985, SEC.1. Amended by P.L.29-1986, SEC.1; P.L.255-1997(ss), SEC.1; P.L.170-2002, SEC.13; P.L.119-2012, SEC.12; P.L.104-2022, SEC.14.

Ind. Code § 5-1.4-1-6 "County"

Sec. 6. "County" refers to the county in which the bank is located. As added by P.L.42-1985, SEC.1.

Ind. Code § 5-1.4-1-7 "Financial institution"

Sec. 7. "Financial institution" means a financial institution as defined in IC 28-1-1-3. As added by P.L.42-1985, SEC.1.

Ind. Code § 5-1.4-1-8 "Holder"

Sec. 8. "Holder" means a person who is: (1) the bearer of any outstanding bond or note registered to bearer or not registered; or (2) the registered owner of any outstanding bond or note that is registered other than to bearer. As added by P.L.42-1985, SEC.1.

Ind. Code § 5-1.4-1-9 "Note"

Sec. 9. "Note" refers to a note of the bank issued under this article. As added by P.L.42-1985, SEC.1.

Ind. Code § 5-1.4-1-10 "Qualified entity"

Sec. 10. "Qualified entity" means the following: (1) A city. (2) A county. (3) A special taxing district located wholly within a county. (4) Any entity whose tax levies are subject to review and modification by a city-county legislative body under IC 36-3-6-9. (5) A political subdivision (as defined in IC 36-1-2-13) that is located wholly within any of the following counties: (A) A county that has a population of more than four hundred thousand (400,000) and less than seven hundred thousand (700,000). (B) A county having a population of more than two hundred fifty thousand (250,000) and less than three hundred thousand (300,000). (C) A county containing a city that: (i) is described in section 5(3) of this chapter; and (ii) has a public improvement bond bank under this article. (6) A charter school established under IC 20-24 that is sponsored by the mayor of the consolidated city. (7) Any authority created under IC 36 that leases land or facilities to any qualified entity listed in subdivisions (1) through (6). As added by P.L.42-1985, SEC.1. Amended by P.L.29-1986, SEC.2; P.L.46-1987, SEC.1; P.L.12-1992, SEC.15; P.L.255-1997(ss), SEC.2; P.L.127-2002, SEC.1 and P.L.179-2002, SEC.1; P.L.1-2005, SEC.71; P.L.119-2012, SEC.13; P.L.104-2022, SEC.15.

Ind. Code § 5-1.4-1-11 "Reserve fund"

Sec. 11. "Reserve fund" refers to the reserve fund established under IC 5-1.4-5-1. As added by P.L.42-1985, SEC.1.

Ind. Code § 5-1.4-1-12 "Security"

Sec. 12. "Security" means a bond, note, or evidence of indebtedness issued by a qualified entity and payable from taxes, revenues, rates, charges, assessments, proceeds of funding or refunding bonds or notes, or any combination of the foregoing. As added by P.L.42-1985, SEC.1.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026