Any municipality proposing to carry out a project for industrial development shall first, by majority vote of the governing body of the municipality, approve the plan for the project. The plan shall include the following information pertaining to the proposed project:

1. (1) A description of the project;
2. (2) An estimate of the cost of the project;
3. (3) A statement of the source of funds to be expended for the project;
4. (4) A statement of the terms upon which the facilities to be provided by the project are to be leased or otherwise disposed of by the municipality; and
5. (5) Such other information necessary to meet the requirements of sections 100.010 to 100.200.

(L. 1961 p. 189 § 5, A.L. 1983 S.B. 316)

Effective 6-22-83

*(Transferred 1967; formerly 71.803)