Sec. 3. (a) The corporation shall adopt policies and guidelines to establish the criteria for awarding grants and loans to counties and municipalities.

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Terms Used In Indiana Code 5-28-24-3

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • municipality: means a city or town. See Indiana Code 5-28-24-1
     (b) The criteria for awarding the grants and loans must include the:

(1) economic need of the county or municipality;

(2) impact of the new or expanding business on employment and output in the county or municipality;

(3) importance of state participation to the investment decision;

(4) impact of state assistance to job production in the county or municipality; and

(5) extent of other public and private participation.

As added by P.L.4-2005, SEC.34.

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