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(A) The town is authorized pursuant to I.C. 5-28-9 to receive loans from the Industrial Development Fund created pursuant to I.C. 5-28-9-9, to be used by the town for the purpose of instituting and administering an approved Industrial Development program in the town.
(B) The town may enter into lease purchase agreements and guaranty agreements when the Town Council through proper ordinance determines that such actions will be of benefit to the health and welfare and continued development of the town and its citizens.
('88 Code, § 2-6-3) (Ord. 82-5, passed 8-2-82)