§ 36-7-12-21 — Negotiation of financing terms; adverse competitive effect studies; preliminary expenses

(a) An economic development commission
may enter into negotiations with one (1) or more persons concerning
the terms and conditions for financing of economic development or
pollution control facilities.
(b) The commission shall consider whether a proposed economic
development facility may have an adverse competitive effect on similar
facilities already constructed or operating in the unit. In the case of
economic development facilities that are identified at the time of
issuance of the bonds, the adverse competitive effect question must be
considered before issuance of the bonds. In the case of a program
financing under section 18.5 of this chapter, the adverse competitive
effect question need not be considered before the issuance of the bonds
except for those economic development facilities that are identified at
the time of issuance of the bonds, but it must be considered before
financing any proposed economic development facilities from program
funds.
(c) Preliminary expenses in connection with negotiations under this
section may be paid from:
(1) money furnished by the proposed user or developer;
(2) money made available by the state or federal government, or
by any of their departments or agencies; or
(3) money of the commission.
[Pre-Local Government Recodification Citation:
18-6-4.5-14.]
As added by Acts 1981, P.L.309, SEC.31. Amended by
P.L.25-1987, SEC.49.