Indiana Code 8-14.5-5-4. Sale or conveyance of transportation system
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Terms Used In Indiana Code 8-14.5-5-4
- 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
Sec. 4. The department may sell, transfer, or convey by any means any transportation system to the authority through negotiation of a lease. The department may lease any existing transportation system or property under its control to the authority for construction of a project, which project may be leased to the department.
As added by P.L.68-1988, SEC.12.