Indiana Code 5-1.3-5-10. Transfer of rail project upon payment of obligation in full
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Terms Used In Indiana Code 5-1.3-5-10
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Sec. 10. The IFA shall certify to the NWIRDA and the NICTD that all bonds, notes issued, and leases or other obligations entered into with respect to the rail project or rail projects have been paid to their final maturity. At that time, the rail project or rail projects shall be transferred to the NICTD and neither the IFA or the NWIRDA shall have any further obligation with respect to the rail project or rail projects.
As added by P.L.189-2018, SEC.26. Amended by P.L.10-2019, SEC.29.