Indiana § 5-28-24-6 Use of repayment proceeds; corporation approval

Indiana Statutes

§ 5-28-24-6 — Use of repayment proceeds; corporation approval

Indiana § 5-28-24-6

Title 5STATE AND LOCAL ADMINISTRATION

Art. 28INDIANA ECONOMIC DEVELOPMENT

Ch. 24Investment Incentive Program

This text of Indiana § 5-28-24-6 (Use of repayment proceeds; corporation approval) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-28-24-6 (2026).

Text

(a)The repayment proceeds of a loan made from a grant under this chapter shall be used by the county or municipality for any economic or community development activity, including:

(1)making loans to businesses; and

(2)the construction or reconstruction of any street, sewer, or other capital improvement that will promote economic development in the community or the repayment of bonds used to finance the construction or reconstruction.

(b)All uses of repaid loan proceeds by a county or municipality under this chapter are subject to approval by the corporation.

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(a) The repayment proceeds of a loan made
from a grant under this chapter shall be used by the county or
municipality for any economic or community development activity,
including:
(1) making loans to businesses; and
(2) the construction or reconstruction of any street, sewer, or other
capital improvement that will promote economic development in
the community or the repayment of bonds used to finance the
construction or reconstruction.
(b) All uses of repaid loan proceeds by a county or municipality
under this chapter are subject to approval by the corporation.