{"data":{"id":"us-in/ic-5-28-24-8","jurisdiction":"us-in","citation":"IC 5-28-24-8","heading":"Loan not general obligation of county or municipality; determination of reasonable assurance of repayment","body":"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.\n(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:\n(1) the financial condition of the business;\n(2) the financial feasibility of the expansion being undertaken by the business;\n(3) the adequacy of collateral for the loan; and\n(4) any other information that the corporation considers relevant to its determination.","path":["TITLE 5. STATE AND LOCAL ADMINISTRATION","ARTICLE 28. INDIANA ECONOMIC DEVELOPMENT CORPORATION","Chapter 24. Investment Incentive Program"],"source_url":"https://iga.in.gov/ic/2026/Title_5.html#5-28-24-8","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-02T16:11:39Z","sha256":"00888c1506a897f93ca5fb370933917e2a487e10b2db3eeab990a6fff7478419","source_id":"us-in","stale":false,"prev":"us-in/ic-5-28-24-7","next":"us-in/ic-5-28-24-9"},"notice":"GroundRules: Original legal text. Not legal advice."}