Indiana Code 5-1.2-9-18. Financing agreement; requirement for user or developer to pay costs if authority retains an interest in the project
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Terms Used In Indiana Code 5-1.2-9-18
- Trustee: A person or institution holding and administering property in trust.
Sec. 18. If the authority retains an interest in the economic development project, the financing agreement must require the user or the developer to pay all costs of maintenance, repair, taxes, assessments, insurance premiums, trustee‘s fees, and any other expenses relating to the economic development project, so that the authority will not incur any expenses on account of the economic development project other than those that are covered by the payments provided for in the financing agreement.
As added by P.L.189-2018, SEC.25. Amended by P.L.10-2019, SEC.19.