§ 5-1.2-15-7 — Allocation of money to projects; procedure

Indiana § 5-1.2-15-7

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.2: INDIANA FINANCE AUTHORITY
• Ch. 15: Local Transportation Infrastructure Program

Text

(a) The authority shall establish a written
procedure, in coordination with a state agency, department, or
instrumentality providing funds under section 4(1) of this chapter and
for allocating money to projects described in section 8 of this chapter.
(b) The procedure established under this section must include at
least the following:
(1) An application procedure to identify projects that qualify for
funding.
(2) Criteria for establishing priority of projects.
(3) Procedures for selecting projects.
(4) Procedures for reporting the results of the selection process
and the status of projects to the budget committee.
(c) To apply for a loan or other financial assistance from a fund, a
participant must submit an application that contains at least the
following information:
(1) A description of the infrastructure for which the loan or other
financial assistance is sought.
(2) An estimate of the cost of constructing or improving the
infrastructure, including the cost of designing the infrastructure.
(3) Any other information required by the authority in accordance
with the procedure established under this section.

Legislative History

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