Ind. Code § 5-28-24-8
Loan not general obligation of county or municipality; determination of reasonable assurance of repayment
As added by P.L.4-2005, SEC.34.
- (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.
As added by P.L.4-2005, SEC.34.