Sec. 1. (a) In addition to its other powers, the department may enter into a lease or leases with the authority under section 2 or 3 of this chapter for any or all of the purposes set forth in this article.

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Terms Used In Indiana Code 8-14.5-5-1

  • 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 authority has all the powers necessary and incidental to carry out the terms and conditions of leases under this chapter.

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

As added by P.L.68-1988, SEC.12.

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