4-20.5-7-10.3. Appraisal of Property Transferred to Public Utility
Sec. 10.3. (a) This section applies only to the transfer of property to a public utility under section 10.5 of this chapter. (b) If property transferred under this section requires an appraisal, the commissioner may do one (1) of the following: (1) Require the public utility to pay for the appraisal. (2) Accept the public […]
4-20.5-7-10.5. Transfer to Public Utility; Consideration
Sec. 10.5. (a) The commissioner may, at the request of an agency head, transfer state property to a public utility (as defined in IC 8-1-2-1(a)) for the purpose of a right-of-way. (b) Consideration for the transfer of property under subsection (a) is as follows: (1) If the transfer is approved by the governor under section […]
4-20.5-7-10.7. Transfer of Property to Person for Property of Like Value
Sec. 10.7. (a) The department may transfer state property to a person in exchange for property of like value transferred by the person to the state: (1) to: (A) settle a dispute relating to either or both of the properties; or (B) improve: (i) the state’s ability to manage state property; or (ii) access to […]
4-20.5-7-11. Sale of Abandoned Railroad Corridor Property; Exception
Sec. 11. (a) Except as provided in subsection (f), the department may sell the property through any of the following: (1) Competitive bids. (2) By auction. (3) By request for proposals. (b) The department may enter into negotiations under this section with the respondent who has made the highest offer only if the negotiations are […]
4-20.5-7-12. Notice of Sale
Sec. 12. (a) The department must give notice of a sale as required by this section. (b) Notice of a sale must satisfy the following: (1) The notice must state the time, place, and terms of the sale. (2) The notice must be published as follows: (A) In accordance with IC 5-3. (B) In every […]
4-20.5-7-13. Bid Procedure
Sec. 13. (a) Bids shall be opened publicly in the presence of at least one (1) witness at the time and place designated in the notice of the sale. (b) Bids shall be: (1) unconditionally accepted without alteration or correction, except as provided in subsections (e) through (g); and (2) evaluated based on the requirements […]
4-20.5-7-14. Auction Procedure
Sec. 14. (a) As used in this section, “auctioneer” refers to an auctioneer licensed under IC 25-6.1. (b) Instead of taking bids, the department may engage an auctioneer to advertise the sale and to conduct a public auction of the property. (c) The advertising by an auctioneer under this section must include a detailed description […]
4-20.5-7-15. Sale at Less Than Appraised Value; Grant of Easement
Sec. 15. (a) Except as provided in subsection (b) and section 10 of this chapter, the governor must approve a sale of the property for a price less than the appraised value of the property. (b) The department may grant an easement in property without: (1) money consideration; and (2) the approval of the governor. […]
4-20.5-7-16. Cash Sale; Proceeds Depository
Sec. 16. (a) A sale of property must be made for cash. (b) Subject to Article 8, Section 2 of the Constitution of the State of Indiana, the proceeds of a sale, after payment of expenses, shall be deposited in the state treasury and credited to the fund from which the property was purchased. (c) […]
4-20.5-7-16.5. Proceeds Credited to Separate Account for Purchase of Other Real Property
Sec. 16.5. The proceeds from the sale of property subject to the management or control of the department of natural resources shall be credited to a separate account to be used for the purchase of other real property to be managed or controlled by the department of natural resources. As added by P.L.49-1997, SEC.22.