Indiana § 5-1.3-3-6 Property transactions involving a rail project; authorization

Indiana Statutes

§ 5-1.3-3-6 — Property transactions involving a rail project; authorization

Indiana § 5-1.3-3-6

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.3LEASE FINANCING FOR RAIL PROJECTS FOR

Ch. 3General Provisions

This text of Indiana § 5-1.3-3-6 (Property transactions involving a rail project; authorization) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-1.3-3-6 (2026).

Text

The IFA, the NWIRDA, or the NICTD may
acquire by purchase, whenever the IFA, the NWIRDA, or the NICTD
considers a purchase expedient, or lease as lessee, any land,
rights-of-way, property, rights, easements, or other legal or equitable
interests as the IFA, the NWIRDA, or the NICTD considers necessary
or convenient for the construction and operation of any rail project. A
purchase or lease under this section shall be made upon the terms and
at the price agreed upon between the purchaser or lessee, the IFA, and
the property owner. The purchaser shall take title to the property,
unless the purchaser is the IFA, in which case the IFA shall take title
to the property in the name of the state.

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The IFA, the NWIRDA, or the NICTD may
acquire by purchase, whenever the IFA, the NWIRDA, or the NICTD
considers a purchase expedient, or lease as lessee, any land,
rights-of-way, property, rights, easements, or other legal or equitable
interests as the IFA, the NWIRDA, or the NICTD considers necessary
or convenient for the construction and operation of any rail project. A
purchase or lease under this section shall be made upon the terms and
at the price agreed upon between the purchaser or lessee, the IFA, and
the property owner. The purchaser shall take title to the property,
unless the purchaser is the IFA, in which case the IFA shall take title
to the property in the name of the state.