Disbursements; resolution and findings; restrictions on use
Sec. 13. (a) Before disbursing money from the fund established
under section 11 of this chapter for an economic development project
under section 12.5(b)(2)(A), 12.5(c)(3), or 12.5(d)(2) of this chapter,
the county fiscal body must adopt a resolution that contains the
following:
(1) A written finding that the project will do all of the
following:
(A) Attract new business enterprises to the county or retain
or expand existing business enterprises in the county.
(B) Benefit the public health and welfare and be of public
utility and benefit.
(C) Protect and increase state and local tax bases or
revenues.
(D) Result in a substantial increase in temporary and
permanent employment opportunities and private sector
investment within the county.
(2) The amounts to be disbursed from the fund for each
economic development project.
(3) The date of the disbursement.
(b) The county fiscal body may impose restrictions on the use of
the funds as a condition of the disbursement by including the
restrictions in the resolution adopted under subsection (a).
As added by P.L.74-1988, SEC.2. Amended by P.L.51-1992, SEC.3.
Last modified: May 28, 2006