§ 8-16-15-2 — Purchase price

Indiana § 8-16-15-2

• Jurisdiction: Indiana
• Art. 16: BRIDGES AND TUNNELS
• Ch. 15: Bistate Purchase of Wabash River Bridge

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If the proper authorities of the state of Illinois
are empowered by the laws of the state of Illinois to enter into such
negotiations, and if the department and the authority having charge of
the state highways of the state of Illinois can agree with the owners of
such bridge on the purchase-price of such bridge, then and in that event
the department is hereby authorized and empowered to acquire the
ownership of and the title to such bridge, jointly, with the state of
Illinois, to pay not to exceed fifty percent (50%) of the purchase-price
agreed upon, out of any funds appropriated to the department which
might otherwise be used for the construction of bridges, and to enter
into such agreements with the proper authorities of the state of Illinois
as may be fair and equitable for the repair, maintenance and upkeep of
such bridge, and to expend such amounts of money as may be
necessary to maintain such bridge.
Formerly: Acts 1937, c.160, s.2. As amended by Acts 1980,
P.L.74, SEC.295.