Indiana Code 14-13-9-26. Property interests
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Sec. 26. (a) The commission may:
(2) hold, use, improve, maintain, operate, own, manage, or lease as lessor or lessee real or personal property or any interest in that property;
(1) acquire and dispose of real or personal property by grant, gift, purchase, lease, devise, or otherwise; and
Terms Used In Indiana Code 14-13-9-26
- 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: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
- Personal property: All property that is not real property.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
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.