Expiration of district designation
Sec. 8. If no loans have been made to a unit under IC 4-4-8
(before its repeal) or IC 5-28-9 for the financing of industrial
development programs in an economic development district within
two (2) years from the date of the ordinance confirming the
establishment of that district, or if money in the special fund
established by the unit for that district is sufficient to pay all
principal of and interest on and the performance of all other
obligations by a unit on all loans made under IC 4-4-8 (before its
repeal) or IC 5-28-9 for the financing of industrial development
programs in, or serving, an economic development district, then the
economic development district designation expires.
As added by P.L.19-1985, SEC.5. Amended by P.L.24-1987, SEC.17;
P.L.19-1988, SEC.6; P.L.4-2005, SEC.47.
Last modified: May 28, 2006