Terms Used In Indiana Code 6-1.1-21.2-6.6

• 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}
• obligation: means an obligation to repay:

          (1) the principal and interest on bonds;

          (2) lease rentals on leases; or

          (3) any other contractual obligation;

  payable from tax increment revenues. See Indiana Code 6-1.1-21.2-6.6

• 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.
• tax increment revenues: means the property taxes attributable to the assessed value of property in excess of the base assessed value. See Indiana Code 6-1.1-21.2-10