Indiana § 5-23-6-3 Payments to parties upon termination

Indiana Statutes

§ 5-23-6-3 — Payments to parties upon termination

Indiana § 5-23-6-3

Title 5STATE AND LOCAL ADMINISTRATION

Art. 23PUBLIC-PRIVATE AGREEMENTS

Ch. 6Contract Terms and Conditions

This text of Indiana § 5-23-6-3 (Payments to parties upon termination) 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 § 5-23-6-3 (2026).

Text

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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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.