Indiana Code 8-10-5-15. Bids and bidding; construction contracts and lease or sale of land or property
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Terms Used In Indiana Code 8-10-5-15
- 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
- Port authority: means a port authority created pursuant to authority of this chapter. See Indiana Code 8-10-5-1
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- Publication: means publication once a week for two (2) consecutive weeks:
Indiana Code 8-10-5-1
Sec. 15. Contracts for the creation, construction, alteration, or repair of any building, structure, or other improvement undertaken by a port authority created in accordance with this chapter shall be let in accordance with IC 36-1-12. No lease or sale of any lands or property shall be made by the port authority unless notice calling for bids for the same shall have been given by publication as provided by this chapter. No such lease or sale shall be made, except to the highest and best bidder. In the case of any lease or sale of land by the port authority, specifications for the bids for such lease or sale shall be in such form and detail as shall be determined by the port authority.
Formerly: Acts 1959, c.343, s.14; Acts 1965, c.390, s.2. As amended by Acts 1979, P.L.89, SEC.3; Acts 1981, P.L.57, SEC.20.