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Indiana Code Title 5. State and Local Administration § 5-1.2-15.5-9

Current as of January 02, 2024 | Updated by FindLaw Staff

Sec. 9. (a) The residential housing infrastructure assistance revolving fund is established. The fund is a revolving fund to provide money for loans under this chapter to or for the benefit of participants.

(b) The fund consists of:

(1) appropriations from the general assembly;

(2) grants and other gifts of money; and

(3) loan repayments, including interest, premiums, and penalties.

(c) The authority shall administer, hold, and manage the fund.

(d) The cost of administering the fund shall be paid from money in the fund.

(e) Money in the fund shall be used to make loans for public infrastructure for the support of residential housing.

(f) Money in the fund may not be used for any of the following purposes:

(1) Repayment of any debt incurred for a project other than an eligible project.

(2) Routine maintenance and repair projects.

(3) Upgrading utility poles.

(4) Fees for studies, reports, designs, or analyses prepared by consultants or engineers for an eligible project.

(g) Money in the fund is continuously appropriated for the purposes of this chapter.

(h) Money in the fund does not revert to the state general fund at the end of a state fiscal year.

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Cite this article: FindLaw.com - Indiana Code Title 5. State and Local Administration § 5-1.2-15.5-9 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-1-2-15-5-9/

Read this complete Indiana Code Title 5. State and Local Administration § 5-1.2-15.5-9 on Westlaw

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