§ 5-1.2-13-6 — Application; financial assistance agreement; assurances

Indiana § 5-1.2-13-6

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.2: INDIANA FINANCE AUTHORITY
• Ch. 13: Flood Control Program

Text

(a) The authority shall authorize the making
of a loan or providing other financial assistance to a participant under
this chapter subject to the following:
(1) An application for the loan or other financial assistance to
undertake an eligible activity has been submitted by the
participant to the authority in the manner and form that the
authority directs. The application must state the following:
(A) The need for the requested eligible activity and the need for
the loan or other financial assistance for undertaking the
requested eligible activity.
(B) A detailed description of the requested eligible activity.
(C) An engineering estimate of the cost of the requested eligible
activity.
(D) The amount of the loan or other financial assistance
considered to be needed.
(E) Other information that is requested by the authority.
(2) By entering into a financial assistance agreement, the
authority determines that the eligible activity for which the
approved assistance is provided will preserve, protect, or benefit
the health, safety, and general welfare of the inhabitants of the
participant's jurisdiction and the citizens of the state.
(3) The participant agrees and furnishes assurance, satisfactory to
the authority, that after completion, the participant will operate
and maintain the eligible activity receiving approved assistance.
(b) This chapter does not require the authority to provide a loan or
other financial assistance to any participant to the extent it determines
that providing the loan or other financial assistance is not in the best
interests of the flood control program and the authority.

Legislative History

As added by P.L.189-2018, SEC.25.