Indiana Statutes
§ 5-23-6-3 — Payments to parties upon termination
Indiana·Title 5 STATE AND LOCAL ADMINISTRATION·Art. 23 PUBLIC-PRIVATE AGREEMENTS·Ch. 6 Contract Terms and Conditions
The public-private agreement may provide for
the payment of money to either party if the public-private agreement is
terminated. The payments may be used in the form of liquidated
damages to compensate the operator for demonstrated unamortized
costs, to retire or refinance indebtedness created to improve or
construct assets owned by the governmental body, or for any other
purpose mutually agreeable to the operator and the governmental body.
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Legislative History
As added by P.L.49-1997, SEC.34.
Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
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"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" defined