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Indiana Code Title 5. State and Local Administration § 5-28-24-8

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

Sec. 8. (a) A loan to a county or municipality made under this chapter is not a general obligation of the county or municipality and is payable solely from revenues derived from the new or expanding business.

(b) Before making a loan to a county or municipality, the corporation shall determine that there is reasonable assurance that the loan will be repaid.  In making this determination, the corporation shall consider:

(1) the financial condition of the business;

(2) the financial feasibility of the expansion being undertaken by the business;

(3) the adequacy of collateral for the loan;  and

(4) any other information that the corporation considers relevant to its determination.

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Cite this article: FindLaw.com - Indiana Code Title 5. State and Local Administration § 5-28-24-8 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-28-24-8/

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