Loan not general obligation of county or municipality; determination of reasonable assurance of repayment

Ind. Code § 5-28-24-8
in effect
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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. (b) Before making a loan to a county or municipality, the corporation shall determine that there is reasonable assurance that the loan will be repaid. In making this determination, the corporation shall consider: (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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026

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