Indiana Code 8-14-17-5. Uses of fund
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Sec. 5. Money in the fund may be used for any of the following purposes:
(2) Lease payments to the authority, if money for those payments is specifically appropriated by the general assembly.
(1) The payment of any obligation incurred or amounts owed by the authority, the department, or an operator under IC 8-15.7 in connection with the execution and performance of a public-private agreement under IC 8-15.7 for a passenger or freight railroad system as described in IC 8-15.7-2-14(a)(4).
Terms Used In Indiana Code 8-14-17-5
- authority: refers to the Indiana finance authority established by Indiana Code 8-14-17-1
- department: refers to the Indiana department of transportation. See Indiana Code 8-14-17-2
- fund: refers to the alternative transportation construction fund established by section 4 of this chapter. See Indiana Code 8-14-17-3
- 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: 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.
As added by P.L.203-2007, SEC.4.