§ 8-15.7-5-1.5 — Additional required provisions of agreement

Indiana § 8-15.7-5-1.5

• Jurisdiction: Indiana
• Art. 15.7: PUBLIC-PRIVATE PARTNERSHIPS
• Ch. 5: Public-Private Agreements

Text

5. In addition to the other requirements of
this article, a public-private agreement entered into under this article
must include the following:
(1) A requirement for the completion of all environmental
analyses of the project required by state and federal law in the
manner and at the times required by the appropriate state and
federal agencies.
(2) A requirement for ownership by the department in the name
of the state of Indiana of:
(A) all the real property on which the project is located; and
(B) all of the improvements on that real property.
(3) An expedited method for resolving disputes between or among
the department, the parties to the public-private agreement, and
affected jurisdictions, as required by IC 8-15.7-12-2.
(4) This subdivision applies only to a public-private agreement
entered into after June 30, 2019. The agreement must provide for
payment and performance bonds as follows:
(A) For a payment bond, an amount not less than one hundred
percent (100%) of the cost to design and construct the project.
(B) For a performance bond, an amount not less than fifty
percent (50%) of the cost to design and construct the project.

Legislative History

As added by P.L.85-2010, SEC.18. Amended by P.L.208-2019, SEC.3.