Sec. 3. The financing of single, identified economic development or pollution control facilities and the provision of a program to finance multiple, unidentified economic development or pollution control facilities that promote a substantial likelihood of:
(1) creating or retaining opportunities for gainful employment;
(2) creating business opportunities;
(3) providing reliable water services;
(4) the abatement, reduction, or prevention of pollution; or
(5) the removal or treatment of substances in materials being processed that otherwise would cause pollution when used;
serve a public purpose and will be of benefit to the health or general welfare of the unit proposing to issue bonds for the financing or program or of the unit where the facilities that are to be financed are located.
[Pre-Local Government Recodification Citation: 18-6-4.5-1 part.]
As added by Acts 1981, P.L.309, SEC.31. Amended by P.L.25-1987, SEC.46; P.L.35-1990, SEC.46.
Structure Indiana Code
Article 7. Planning and Development
Chapter 12. Economic Development and Pollution Control
36-7-12-1. Application of Chapter
36-7-12-3. Declaration of Public Purpose
36-7-12-4. Economic Development Departments and Commissions; Creation
36-7-12-5. Second and Third Class Cities; Commission Members; Appointment; Terms of Office
36-7-12-6. Towns; Commission Members; Appointment; Terms of Office
36-7-12-7. Counties; Commission Members; Appointment; Terms of Office
36-7-12-8. Consolidated Cities; Commission Members; Appointment; Terms of Office
36-7-12-9. Commissioners; Selection and Nomination; Successors in Office
36-7-12-10. Commissioners; Failure to Nominate; Vacancies
36-7-12-11. Commissioners; Oaths; Certificates of Appointment
36-7-12-12. Organizational Meetings; Officers
36-7-12-13. Commissions; Rules; Meetings; Quorum; Approval of Actions; Records
36-7-12-14. Removal of Commissioners From Office
36-7-12-15. Commissioners; Expenses and per Diem
36-7-12-16. Pecuniary Interest of Commissioner in Matters Considered by Commission
36-7-12-17. Commissions; Investigatory Duties
36-7-12-20. Use of Funds; Procedures for Letting Contracts; Employees' Bonds
36-7-12-21. Negotiation of Financing Terms; Adverse Competitive Effect Studies; Preliminary Expenses
36-7-12-22. Applicability of Zoning Laws; Consent Necessary for Financing of Facilities
36-7-12-23. Evaluative Report; Exception
36-7-12-24. Hearing on Proposed Financing of Facilities; Approval by Commission
36-7-12-25. Approval of Proposed Financing by Unit; Authorization Bond Issuance; Approval of Changes
36-7-12-26. Financing Agreements; Terms
36-7-12-27.5. Legal Representation of Commission; Conflict of Interest; Offense
36-7-12-28. Trust Indentures Securing Bonds
36-7-12-29. Application of Bond Proceeds
36-7-12-31. Bonds, Notes, Warrants, Proceeds, and Interest; Exemption From State Taxes
36-7-12-32.1. Exemption From Securities Registration
36-7-12-33. Property Taxes; Liability and Exemptions
36-7-12-34. Payments Received by Units; Exemption From Tax
36-7-12-35. Responsibility for Construction Approval