§ 8-15.7-5-6 — Takeover of qualifying project upon termination of public-private agreement

Indiana § 8-15.7-5-6

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

Text

(a) Upon the termination or expiration of the
public-private agreement, including a termination for default, the
department may take over the qualifying project and succeed to all of
the right, title, and interest in the qualifying project. The department
may agree to accept the qualifying project subject to any liens on
revenues previously granted by the operator to any person providing
financing for the qualifying project.
(b) If the department elects to take over a qualifying project, the
department may do all or part of the following:
(1) Develop, finance, or operate the project.
(2) Impose, collect, retain, and use user fees, if any, for the
project.
(c) The department may use any revenues collected under this
section for any of the following purposes or any other authorized use
under this article:
(1) Making payments to individuals or entities in connection with
the financing of the qualifying project.
(2) Paying development costs of the project.
(3) Paying current operation costs of the project or facilities,
including compensation to the department for the services of the
department in operating the qualifying project.
(4) Paying the operator for any compensation or payment owing
upon termination.
(d) The full faith and credit of the state or any political subdivision
or the authority is not pledged to secure any financing of the operator
by the election to take over the qualifying project. Assumption of
development or operation, or both, of the qualifying project does not
obligate the state or any political subdivision or the authority to pay any
obligation of the operator.

Legislative History

As added by P.L.47-2006, SEC.40.