Indiana Code 5-13-4-13. “Economic development obligation”
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Terms Used In Indiana Code 5-13-4-13
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Sec. 13. “Economic development obligation” means any loan or lease by a lender or lessor approved by the board for depositories as responsible and able to service the loan or lease properly, which is used to finance all or any portion of the cost of an economic development project.
As added by P.L.19-1987, SEC.6. Amended by P.L.189-2018, SEC.31.