Indiana § 5-28-24-8 Loan not general obligation of county or municipality; determination
of reasonable assurance of repayment

Indiana Statutes

§ 5-28-24-8 — Loan not general obligation of county or municipality; determination of reasonable assurance of repayment

Indiana § 5-28-24-8

Title 5STATE AND LOCAL ADMINISTRATION

Art. 28INDIANA ECONOMIC DEVELOPMENT

Ch. 24Investment Incentive Program

This text of Indiana § 5-28-24-8 (Loan not general obligation of county or municipality; determination of reasonable assurance of repayment) 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 § 5-28-24-8 (2026).

Text

(a)A loan to a county or municipality made under this chapter is not a general obligation of the county or municipality and is payable solely from revenues derived from the new or expanding business.

(b)Before making a loan to a county or municipality, the corporation shall determine that there is reasonable assurance that the loan will be repaid. In making this determination, the corporation shall consider:

(1)the financial condition of the business;

(2)the financial feasibility of the expansion being undertaken by the business;

(3)the adequacy of collateral for the loan; and

(4)any other information that the corporation considers relevant to its determination.

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(a) A loan to a county or municipality made
under this chapter is not a general obligation of the county or
municipality and is payable solely from revenues derived from the new
or expanding business.
(b) Before making a loan to a county or municipality, the
corporation shall determine that there is reasonable assurance that the
loan will be repaid. In making this determination, the corporation shall
consider:
(1) the financial condition of the business;
(2) the financial feasibility of the expansion being undertaken by
the business;
(3) the adequacy of collateral for the loan; and
(4) any other information that the corporation considers relevant
to its determination.