SECTION 355:10-3-1. Qualifiying Industrial enterprises

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Loans may only be made by the Authority to finance the acquisition or construction, expansion or establishment of qualifying industrial enterprises. Such enterprises may be for industrial, manufacturing or recreational purposes as those terms are defined in the OIFA Act and this chapter. All loans made by the Authority must be secured by first or second mortgages on real property or leasehold estates, in addition to security interests in equipment to be used in the project.

                    
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