Section 5-13-5-5 - Transacting business with financial institution or public retirement fund through use of electronic funds transfer; ordinance or resolution(a) The fiscal body of any political subdivision may by ordinance or resolution authorize the proper legal officers of the political subdivision to transact the political subdivision's business with a financial institution or a public pension or retirement fund administered by the Indiana public retirement system through the use of electronic funds transfer.(b) The ordinance or resolution must:(1) specify the types of transactions that may be conducted by electronic funds transfer; and(2) require the proper officers to maintain adequate documentation of the transactions so that they may be audited as provided by law.Amended by P.L. 35-2012, SEC. 91, eff. 7/1/2012.As added by P.L. 19-1987, SEC.7. Amended by P.L. 61-2002, SEC.9.