IC 5-28-24-8: Loan not general obligation of county or municipality; determination of reasonable assurance of repayment

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.