Sec. 17. (a) A capital improvement
board may
lease for a nominal lease rental, or sell to the
authority, one (1) or more capital improvements or portions thereof or land upon which a capital improvement is located or is to be constructed.
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Terms Used In Indiana Code 5-1-17-17
- authority: refers to the Indiana stadium and convention building authority created by this chapter. See Indiana Code 5-1-17-1
- board: refers to the board of directors of the authority. See Indiana Code 5-1-17-2
- capital improvement board: refers to a capital improvement board of managers created by IC 36-10-8 or IC 36-10-9. See Indiana Code 5-1-17-4
- 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
(c) A capital improvement board may sell property to the authority.
As added by P.L.214-2005, SEC.6.
