§ 8-9.5-8-6 — Contracts or leases; requisite provisions

Indiana § 8-9.5-8-6

• Jurisdiction: Indiana
• Art. 9.5: TRANSPORTATION AGENCIES
• Ch. 8: Indiana Finance Authority: Additional Duties

Text

(a) With respect to each toll road project and
each toll bridge, the authority may enter into:
(1) a contract with the department under section 7 of this chapter
for any or all of the purposes enumerated in section 7(b) of this
chapter; or
(2) a lease with the department under section 8 of this chapter for
any or all of the purposes enumerated in section 8(b) of this
chapter.
(b) If the authority determines that the department is not complying
with a contract or lease:
(1) the authority shall reassume responsibility for the
construction, reconstruction, improvement, operation,
maintenance, and repair of the toll road project or toll bridge; and
(2) the contract or lease shall be terminated by the authority.
(c) If the authority enters into a contract or lease with the
department as provided in subsection (a), the contract or lease must
contain, in addition to the requirements of section 7 or 8 of this chapter,
the following:
(1) A description of the toll road project or toll bridge setting
forth in general terms its principal features, such as geographic
location, terminal points, widths of rights-of-way, number of lanes
in each direction, width of traffic lanes, widths of shoulders,
location and nature of access points, tunnels, overpasses,
underpasses, interchanges, bridges, entrance plazas, approaches,
connecting highways, and tollhouses.
(2) Provisions for construction, reconstruction, or improvement
of the toll road project or toll bridge.
(3) Provisions for operation, maintenance, and repair of the toll
road project or toll bridge in accordance with any applicable trust
agreement.
(4) Provisions requiring the toll road project or the toll bridge to
be managed as a unit separate from any other district or division
of the department.

Legislative History

As added by P.L.109-1983, SEC.3.