Sec. 8. (a) A loan to a county or
municipality made under this chapter is not a general
obligation of the county or municipality and is payable solely from revenues derived from the new or expanding business.
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Terms Used In Indiana Code 5-28-24-8
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- municipality: means a city or town. See Indiana Code 5-28-24-1
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(1) the financial condition of the business;
(2) the financial feasibility of the expansion being undertaken by the business;
(3) the adequacy of collateral for the loan; and
(4) any other information that the corporation considers relevant to its determination.
As added by P.L.4-2005, SEC.34.
