§ 5-28-9-13 — Participation in program or project by entity; share of cost

Indiana § 5-28-9-13

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 9: Industrial Development Program and Fund

Text

(a) The qualified entity may provide labor,
equipment, and materials from any source at its disposal for such a
program, and participation in accomplishment of the project or projects
may be:
(1) evaluated by the state board of finance and the corporation;
and
(2) computed as a part or all of the share of cost that the qualified
entity is required to pay toward the total cost of the project or
projects for which the loan is obtained.
(b) When participation as described in this section is authorized, the
participation must be under direction of the governing body, and when
cash amounts are included in the qualified entity's share of total cost,
the cost amounts shall be provided in the usual and accepted manner
for the financing of the affairs of the qualified entity. Costs of
engineering and legal services to the borrower may be regarded as a
part of the total cost of the project.

Legislative History

As added by P.L.4-2005, SEC.34.