§ 6-9-26-13 — Disbursements; resolution and findings; restrictions on use

Indiana § 6-9-26-13

• Jurisdiction: Indiana
• Art. 9: INNKEEPER'S TAXES; OTHER LOCAL TAXES
• Ch. 26: Madison County Food and Beverage Tax

Text

(a) Before disbursing money from the fund
established under section 11 of this chapter for an economic
development project under section 12.5(b)(2)(A), 12.5(c)(3), or
12.5(d)(2) of this chapter, the county fiscal body must adopt a
resolution that contains the following:
(1) A written finding that the project will do all of the following:
(A) Attract new business enterprises to the county or retain or
expand existing business enterprises in the county.
(B) Benefit the public health and welfare and be of public
utility and benefit.
(C) Protect and increase state and local tax bases or revenues.
(D) Result in a substantial increase in temporary and permanent
employment opportunities and private sector investment within
the county.
(2) The amounts to be disbursed from the fund for each economic
development project.
(3) The date of the disbursement.
(b) The county fiscal body may impose restrictions on the use of the
funds as a condition of the disbursement by including the restrictions
in the resolution adopted under subsection (a).

Legislative History

As added by P.L.74-1988, SEC.2. Amended by P.L.51-1992, SEC.3.