IC 5-1.5-6.5-1 : Capital principal fund and capital interest fund; programs for qualified entities

Sec. 1. (a) The bank shall establish and maintain:

(1) a capital principal fund, to be funded from appropriations made to the fund by the general assembly and any other money that the bank transfers to the fund; and

(2) a capital interest fund, to be funded from investment earnings on the capital principal fund.

(b) The bank may use the funds only for programs for qualified entities issuing securities for any of the following purposes:

(1) Sewage works.

(2) Waterworks.

(3) Parking facilities.

(4) Redevelopment projects financed with allocated property tax proceeds under IC 36-7-14-39 or IC 36-7-15.1-26.

As added by P.L.38-1988, SEC.5.