§ 36-7-15.1-17.2 — Persons authorized as lessors

Indiana § 36-7-15.1-17.2

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 15.1: Redevelopment of Areas in Marion County Needing

Text

2. (a) Any of the following persons may
lease facilities referred to in section 17.1 of this chapter to a
commission:
(1) A not-for-profit corporation organized under Indiana law or
admitted to do business in Indiana.
(2) An authority established under IC 36-10-9.1.
(b) Notwithstanding any other law, a lessor under this section and
section 17.1 of this chapter is a qualified entity for purposes of IC 5-1.4-1-10.
(c) Notwithstanding any other law, a redevelopment facility leased
by the commission under this chapter from a lessor borrowing bond
proceeds from a unit under IC 36-7-12 is an economic development
facility for purposes of IC 36-7-11.9-3 and IC 36-7-12.
(d) Notwithstanding IC 36-7-12-25 and IC 36-7-12-26, payments by
the commission to a lessor described in subsection (c) may be made
from sources set forth in section 17.1 of this chapter so long as the
payments and the lease are structured to prevent the lease obligation
from constituting debt of the unit or the district for purposes of the
Constitution of the State of Indiana.

Legislative History

As added by P.L.84-1987, SEC.10.