Sec. 1.5. (a) Except as provided in section 1.7 of this chapter, this section applies to revenue received by the authority to the extent that the revenue has not been pledged or otherwise obligated to pay bonds or leases entered into before July 1, 2015, for a project other than a rail project.
(b) The authority may expend money received under this article to fund economic development projects only to the extent that:
(1) the development board finds that the economic development project is a destination based economic development project evaluated under IC 36-7.5-2-1(4) or is consistent with:
(A) a duty imposed upon the development authority under section 1(2) or 1(4) of this chapter; or
(B) the Marquette Plan; and
(2) funding the project is reviewed by the budget committee under subsection (c).
(c) The development board shall submit to the budget committee for review and comment any proposal to fund an economic development project (including any destination based economic development project) under this article. The budget committee shall review any proposal received under this subsection and may request that the authority appear at a public meeting of the budget committee concerning the funding proposal. This subsection does not apply to a rail project financed under IC 5-1.3.
As added by P.L.192-2015, SEC.12. Amended by P.L.204-2016, SEC.38; P.L.189-2018, SEC.169.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.