Subject to the written procedures developed under section 6 of this chapter, the authority may do the following:

1. (1) Accept money from any agency, department, or instrumentality of the United States, the state, or another state for deposit in a fund.
2. (2) Issue bonds and deposit proceeds in a fund.
3. (3) Loan money to a participant.

4. (4) Use the money in a fund:

   1. (A) for debt financing;
   2. (B) for grants;
   3. (C) for loan guarantees;
   4. (D) to manage leverage loan programs for new construction of local infrastructure projects through recapitalization of funds;
   5. (E) to refinance and purchase participant debt;
   6. (F) to guarantee participant loans;
   7. (G) to make bond and debt service reserve insurance payments;
   8. (H) to guarantee debt service reserve funds; and

   9. (I) to provide other financial assistance;

      to or for a participant.

5. (5) Deposit loan repayments by a participant in a fund.

As added by P.L.13-1996, SEC.1. Amended by P.L.229-2017, SEC.15.