Sec. 8. In making an award to the highest and best bidder as provided in section 7 of this chapter, the authority shall determine whether in its judgment the potential benefits to the state and its citizens of the economic development project as proposed by the bidder exceed the direct costs to the authority of acquiring the property and interests being offered for sale or lease for the economic development project less any sums to be paid by the successful bidder pursuant to its bid. The authority's judgment concerning this determination shall be based on the economic studies, analyses, and projections that the authority determines are reasonably necessary. The authority's determination is final and conclusive.
As added by P.L.189-2018, SEC.25.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.2. Indiana Finance Authority
Chapter 9. Economic Development Projects
5-1.2-9-1. Purposes of This Chapter
5-1.2-9-3. Public Offering for Sale or Lease of Property
5-1.2-9-4. Public Offering; Requirements; Offering Sheet
5-1.2-9-7. Award to Highest and Best Bidder; Factors That May Be Considered; Rejection
5-1.2-9-8. Cost Benefit Analyses
5-1.2-9-9. Contracts With a Bidder; Provisions
5-1.2-9-10. Sale, Exchange, or Lease of Property; Terms; Time Period
5-1.2-9-11. Action to Contest Validity
5-1.2-9-12. Negotiation of Financing Agreements; Considerations; Expenses
5-1.2-9-13. Report for Proposed Economic Development Project; Plan Commission; School Superintendent
5-1.2-9-15. Approval of Proposed Financing Agreement
5-1.2-9-16. Financing Agreement; Payment Provisions
5-1.2-9-17. Financing Agreement; Limit on Term of an Agreement
5-1.2-9-19. Financing of Projects for Developers or Users Through Issuance of Bonds
5-1.2-9-20. Requirements That Must Be Complied With Before Entering Into a Financing Agreement
5-1.2-9-21. Bonds Not General Obligation of the State
5-1.2-9-22. Taxable Bonds; Payment Provisions
5-1.2-9-23. Power to Engage in Financing Activities; Purchase of a Loan
5-1.2-9-24. Lender Certifications
5-1.2-9-25. Guarantees; Secured Loans; Reservation of Funds
5-1.2-9-26. Power to Issue Bonds; Cumulative Term of Refunding Bonds
5-1.2-9-27. Property Not Public Property; Not Exempt From Taxation