Indiana Code 36-9-3-18. Acquisition of facilities within 100 yards of terminals
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Terms Used In Indiana Code 36-9-3-18
- 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
Sec. 18. The authority may acquire, improve, maintain, lease, and rent facilities, including air rights, that are within one hundred (100) yards of a terminal, station, or other facility of the authority. If these facilities generate revenues in excess of their cost to the authority, the authority must use the excess revenues to improve transportation services or reduce fares for the public.
[Pre-Local Government Recodification Citation: 19-5-2.5-29 part.]
As added by Acts 1981, P.L.309, SEC.76.