Sec. 6. The authority may lease property to the department of natural resources and others. A lease:

(1) may provide for the operation, maintenance, improvement, or renovation of the property;

Terms Used In Indiana Code 5-1.2-6-6

  • Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. 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
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(2) must contain standards for operation, quality of goods and services, and price of goods and services;

(3) need not be approved by the attorney general or the governor;

(4) may be executed by the:

(A) chair or vice chair of the authority; and

(B) public finance director; and

(5) is binding on the state after advertisement one (1) time a week for two (2) weeks in two (2) newspapers published in Indianapolis. The first publication must be at least fourteen (14) days before a public hearing by the authority, and the proposed lease must be on file in the department of natural resources during the period of publication.

As added by P.L.189-2018, SEC.25.

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