Indiana Code 36-10-9.1-10. Purposes
(1) Financing, constructing, and leasing capital improvements to the capital improvement board.
Terms Used In Indiana Code 36-10-9.1-10
- authority: refers to the county convention and recreational facilities authority created by this chapter. See Indiana Code 36-10-9.1-2
- board: refers to the board of directors of the authority. See Indiana Code 36-10-9.1-3
- capital improvement board: refers to the capital improvement board of managers created by IC 36-10-9. See Indiana Code 36-10-9.1-5
- 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
(3) Acquiring all or a portion of one (1) or more capital improvements from the capital improvement board by purchase or lease and leasing these capital improvements back to the capital improvement board, with any additional improvements that may be made to them.
(4) Acquiring all or a portion of one (1) or more capital improvements from the capital improvement board by purchase or lease to fund or refund indebtedness incurred on account of those capital improvements to enable the capital improvement board to make a savings in debt service obligations or lease rental obligations or to obtain relief from covenants that the capital improvement board considers to be unduly burdensome.
As added by P.L.82-1985, SEC.12.