Indiana § 5-28-24-8 - Loan not general obligation of county or municipality; determination of reasonable assurance of repayment
Full text of Indiana Indiana Code § 5-28-24-8 — Loan not general obligation of county or municipality; determination of reasonable assurance of repayment, with citation guidance and answers to common questions.
§ 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.
As added by P.L.4-2005, SEC.34.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 5-28-24-8
What does Indiana Code § 5-28-24-8 cover?
Section 5-28-24-8 ("Loan not general obligation of county or municipality; determination of reasonable assurance of repayment") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 5-28-24-8?
A common citation format is "Indiana Code § 5-28-24-8" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 5-28-24-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.