§ 36-10-9.1-17 — Lease or sale of property by capital improvement board to the authority

Indiana § 36-10-9.1-17

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 10: RECREATION, CULTURE, AND COMMUNITY
• Ch. 9.1: Marion County Convention and Recreational Facilities

Text

(a) The capital improvement board may
lease for a nominal lease rental, or sell to the authority, one (1) or more
capital improvements or portions thereof or land upon which a capital
improvement is located or is to be constructed.
(b) Any lease of all or a portion of a capital improvement by the
capital improvement board to the authority must be for a term equal to
the term of the lease of that capital improvement back to the capital
improvement board.
(c) The capital improvement board may sell property to the authority
for such amount as it determines to be in the best interest of the capital
improvement board, which amount may be paid from the proceeds of
bonds of the authority.

Legislative History

As added by P.L.82-1985, SEC.12.