Indiana Code 5-1.2-6-6. Authority may lease property to the department of natural resources; lease terms
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Sec. 6. The authority may lease property to the department of natural resources and others. A lease:
(2) must contain standards for operation, quality of goods and services, and price of goods and services;
(1) may provide for the operation, maintenance, improvement, or renovation of the property;
Terms Used In Indiana Code 5-1.2-6-6
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) need not be approved by the attorney general or the governor;
(4) may be executed by the:
(A) chair or vice chair of the authority; and
(B) public finance director; and
(5) is binding on the state after advertisement one (1) time a week for two (2) weeks in two (2) newspapers published in Indianapolis. The first publication must be at least fourteen (14) days before a public hearing by the authority, and the proposed lease must be on file in the department of natural resources during the period of publication.
As added by P.L.189-2018, SEC.25.