§ 8-15.7-9-2 — Leases with the department or operator

Indiana § 8-15.7-9-2

• Jurisdiction: Indiana
• Art. 15.7: PUBLIC-PRIVATE PARTNERSHIPS
• Ch. 9: Issuance of Debt by Authority

Text

(a) The authority may enter into a lease with
the department or the operator, or both, of a project or projects financed
under this chapter. The department may lease a project financed under
this chapter to the authority or an operator under a public-private
agreement.
(b) A lease of a project to the department under this chapter must
comply with IC 8-14.5-5 except that:
(1) the lease is not required to comply with IC 8-14.5-5-3(a)(1);
and
(2) notwithstanding IC 8-14.5-5-2(a)(2), a lease under this chapter
may be extended from biennium to biennium, with the extensions
not to exceed a lease term of seventy-five (75) years unless the
department gives notice of nonextension at least six (6) months
before the end of the biennium, in which event the lease expires
at the end of the biennium in which the notice is given.

Legislative History

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