Sec. 7. (a) In addition to any distributions required by section 6 of this chapter, money in the fund may be used for any of the following purposes:

(1) Except as provided in subsection (b), the payment of any obligation incurred or amounts owed by the authority, the department, or an operator under IC 8-15-2, IC 8-15-3, IC 8-15.5, or IC 8-15.7 in connection with the execution and performance of a public-private agreement under IC 8-15.5 or IC 8-15.7, including establishing reserves.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 8-14-14-7

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • authority: refers to the Indiana finance authority established by Indiana Code 8-14-14-1
  • department: refers to the Indiana department of transportation. See Indiana Code 8-14-14-2
  • fund: refers to the major moves construction fund established by section 5 of this chapter. See Indiana Code 8-14-14-3
  • Highway: includes county bridges and state and county roads, unless otherwise expressly provided. 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
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • transportation plan: refers to the department's long range comprehensive transportation plan developed under IC 8-23-2-5. See Indiana Code 8-14-14-4
(2) Lease payments to the authority, if money for those payments is specifically appropriated by the general assembly.

(3) Distributions to the treasurer of state for deposit in the state highway fund, for the funding of any project in the department’s transportation plan.

     (b) Money in the fund may not be used for the payment of an obligation incurred or amounts owed by the authority, the department, or an operator under IC 8-15.7 in connection with a public-private agreement under IC 8-15.7 concerning a passenger or freight railroad system as described in IC 8-15.7-2-14(a)(4).

     (c) The treasurer of state shall deposit in the toll road lease amendment proceeds fund established by IC 8-14-14.2-1 all proceeds, including interest earned on these proceeds, received under the First Amendment to the Amended and Restated Indiana Toll Road Concession and Lease Agreement entered on September 21, 2018.

As added by P.L.47-2006, SEC.5. Amended by P.L.203-2007, SEC.3; P.L.108-2019, SEC.153.

  Previous section
Next section  
 Chapter 14 Contents