§ 5-28-30-10 — Power to guarantee loans and leases

Indiana § 5-28-30-10

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 30: Industrial Development Loan Guaranty Program

Text

Subject to the conditions set forth in section
11 of this chapter and the other provisions of this chapter, if the
corporation makes a written finding that:
(1) the guarantee of a particular loan secured by, or lease of, real
property or tangible or intangible personal property to or for the
benefit of any industrial development project, mining operation,
or agricultural operation that involves the processing of
agricultural products would tend to accomplish the purposes of
this chapter, including the creation or retention of employment in
Indiana through the guarantee of the loan or lease; and
(2) the proposed borrower or lessee cannot obtain the loan or
lease upon reasonable terms;
the corporation may, under the guaranty program, guarantee the loan
or lease upon the terms and conditions prescribed by the corporation.

Legislative History

As added by P.L.162-2007, SEC.25.