§ 5-1.4-2-1.5 — Public purpose

Indiana § 5-1.4-2-1.5

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.4: LOCAL PUBLIC IMPROVEMENT BOND BANKS
• Ch. 2: Establishment and Organization

Text

5. The general assembly finds that the
establishment of a local public improvement bond bank in a city
described in IC 5-1.4-1-5(3):
(1) is necessary as a result of:
(A) unique sources of revenues available to the city in relation
to its budget;
(B) extraordinary needs for infrastructure improvements in the
city and in the county in which the city is located;
(C) unprecedented opportunities for economic development,
including tourism development; and
(D) unique demands for education and workforce development,
including facilities for providing education and training;
(2) will afford the city the necessary flexibility to address the
extraordinary demands and opportunities in a manner that will
best serve the interests of the city and the state; and
(3) constitutes an important public purpose and will protect and
improve the health, safety, and welfare of the people of the city
and the state.

Legislative History

As added by P.L.255-1997(ss), SEC.4.