IC 8-1-13-43: Maximum borrowing and expenditures for economic development

Sec. 43. (a) A corporation may not expend more than fifteen percent (15%) of its total utility plant for economic development.

(b) A corporation that is not an REA borrower (as defined in section 17(f) of this chapter) may not borrow any funds for an economic development project without approval of the Indiana utility regulatory commission.