Indiana Code 5-1-17-10. Purpose
(1) Acquiring, financing, constructing, and leasing land and capital improvements to or for the benefit of a capital improvement board.
Terms Used In Indiana Code 5-1-17-10
- 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
(3) Acquiring land or all or a portion of one (1) or more capital improvements from a capital improvement board by purchase or lease and leasing the land or these capital improvements back to the capital improvement board, with any additional improvements that may be made to them.
(4) Acquiring all or a portion of one (1) or more capital improvements from a capital improvement board by purchase or lease to fund or refund indebtedness incurred on account of those capital improvements to enable the capital improvement board to make a savings in debt service obligations or lease rental obligations or to obtain relief from covenants that the capital improvement board considers to be unduly burdensome.
As added by P.L.214-2005, SEC.6.