Indiana Code Title 36. Local Government § 36-9-32-2

Sec. 2. It is found and declared that municipalities in Indiana have a need to finance public improvements to provide for industrial and commercial growth and for general public use.  Therefore, the general assembly finds it necessary and proper to provide an alternative method for municipalities to finance public improvements, to provide for industrial and commercial growth, to provide employment opportunities, diversification of industry and commerce, and to provide general public access to those public improvements.  It is declared that the financing of public improvements for use by the general public, including industrial and commercial enterprises, is a public purpose.