Approval of fiscal unit
Sec. 11. Before applying for a loan under this chapter, a qualified
entity must obtain the approval of a fiscal unit that contracts with the
qualified entity if:
(1) the unit is providing more than twenty-five percent (25%) of
the revenue of the qualified entity in the year the loan is to be
applied for; and
(2) any portion of the loan will be repaid from funds paid to the
qualified entity by the unit.
As added by P.L.70-1995, SEC.5.
Last modified: May 27, 2006