Indiana § 5-1.3-5-7 Additional authorization

Indiana Statutes

§ 5-1.3-5-7 — Additional authorization

Indiana § 5-1.3-5-7

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.3LEASE FINANCING FOR RAIL PROJECTS FOR

Ch. 5Leases

This text of Indiana § 5-1.3-5-7 (Additional 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 § 5-1.3-5-7 (2026).

Text

(a)The NWIRDA may lease for a nominal lease rental, or sell to the IFA, one (1) or more rail projects or portions of a rail project or land upon which a rail project is located or is to be constructed.

(b)Any lease of all or a portion of a rail project by the NWIRDA to the IFA must be for a term equal to the term of the lease of that rail project back to the NWIRDA.

(c)The NWIRDA may sell property to the IFA for the amount the NWIRDA determines to be in the best interest of the NWIRDA. The IFA may pay that amount from the proceeds of bonds of the IFA.

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(a) The NWIRDA may lease for a nominal lease
rental, or sell to the IFA, one (1) or more rail projects or portions of a
rail project or land upon which a rail project is located or is to be
constructed.
(b) Any lease of all or a portion of a rail project by the NWIRDA to
the IFA must be for a term equal to the term of the lease of that rail
project back to the NWIRDA.
(c) The NWIRDA may sell property to the IFA for the amount the
NWIRDA determines to be in the best interest of the NWIRDA. The
IFA may pay that amount from the proceeds of bonds of the IFA.