§ 36-7-27-16 — Pledge to finance economic development tax project

Indiana § 36-7-27-16

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 27: Economic Development Tax Area

Text

Notwithstanding any other law, a county that
expects to receive an economic benefit from a qualified economic
development tax project under this chapter, a county contiguous to
such a county, or a municipality that expects to receive an economic
benefit from a qualified economic development tax project under this
chapter, may pledge (as authorized in IC 5-1-14-4) any legally
available money to the payment of bonds or lease rentals to finance a
qualified economic development tax project. The pledge does not
create a debt of the pledging county or municipality under the
Constitution of the State of Indiana so long as the money is designated
to make lease rental payments to finance a qualified economic
development tax project.

Legislative History

As added by P.L.28-1993, SEC.14.