Indiana Code 14-13-9-26. Property interests

Sec. 26. (a) The commission may:

(1) acquire and dispose of real or personal property by grant, gift, purchase, lease, devise, or otherwise; and

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basin: refers to the Kankakee River basin and the Yellow River basin. See Indiana Code 14-13-9-1
commission: refers to the Kankakee River basin and Yellow River basin development commission established by this chapter. See Indiana Code 14-13-9-2
Devise: To gift property by will.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
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}
Personal property: All property that is not real property.
Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
Property: includes personal and real property. See Indiana Code 1-1-4-5

(2) hold, use, improve, maintain, operate, own, manage, or lease as lessor or lessee real or personal property or any interest in that property;

for the purposes prescribed by this chapter.

(b) The commission may exercise the powers granted by this section for the development of the water resources of the basin.

As added by P.L.282-2019, SEC.8.