§ 5-1.2-6-15 — Control of property after termination of lease

Indiana § 5-1.2-6-15

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.2: INDIANA FINANCE AUTHORITY
• Ch. 6: Recreational Development Facilities and Park Projects

Text

(a) Property leased by the authority to another
entity other than the department of natural resources, at the termination
of the lease or a renewal of the lease, may be leased to the same or
other persons upon the terms the authority determines after following
the procedure in section 6 of this chapter. If the authority does not lease
the property, the property reverts to the control of the department of
natural resources for the department's use and operation. The authority
may not operate the property.
(b) If the authority is entitled to take over the operation of property
because of a default in an agreement, the authority may operate the
property through the authority's employees or contract with others for
the operation of the property. The contract for operation may be with
the department of natural resources if the department is not a defaulting
party.

Legislative History

As added by P.L.189-2018, SEC.25.