Sec. 1. (a) In addition to its other powers, the IFA may enter into a lease or leases with the NWIRDA under this chapter for any or all of the purposes set forth in this article.

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Terms Used In Indiana Code 5-1.3-5-1

  • 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
     (b) The IFA and the NWIRDA have all the powers necessary and incidental to carry out the terms and conditions of leases under this chapter.

     (c) If the IFA and the NWIRDA decide to enter into a lease under this chapter, the IFA and the NWIRDA may enter into a separate lease for each rail project or may enter into one (1) or more master leases for several rail projects.

As added by P.L.189-2018, SEC.26.

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