Sec. 1. (a) In addition to its other powers, the IFA may enter into a lease or leases with the NWIRDA under this chapter for any or all of the purposes set forth in this article. (b) The IFA and the NWIRDA have all the powers necessary and incidental to carry out the terms and […]
Sec. 10. The IFA shall certify to the NWIRDA and the NICTD that all bonds, notes issued, and leases or other obligations entered into with respect to the rail project or rail projects have been paid to their final maturity. At that time, the rail project or rail projects shall be transferred to the NICTD […]
Sec. 2. (a) If lease rental payments under a lease from the IFA to the NWIRDA are payable in whole or in part from state appropriations, a lease entered into under this chapter must include the following: (1) A statement that the term of the lease is for a period coextensive with the biennium used […]
Sec. 3. The NWIRDA may sell, transfer, or convey by any means any rail project to the IFA through negotiation of a lease. The NWIRDA may lease any existing rail project system or property under its control to the IFA for construction of a rail project. The rail project may be leased back to the […]
Sec. 4. The NWIRDA shall pay lease rentals for leases entered into under this chapter and securing bonds issued under IC 5-1.3-6 from revenues deposited in a separate fund established under IC 36-7.5-4-1. As added by P.L.189-2018, SEC.26.
Sec. 5. (a) Before a lease may be entered into by the NWIRDA under this chapter, the NWIRDA must find that the lease rental provided for is fair and reasonable. (b) A lease of a rail project from the IFA to the NWIRDA: (1) may not have a term exceeding forty (40) years; (2) may […]
Sec. 6. This chapter contains full and complete authority for leases between the IFA and the NWIRDA. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the IFA or the NWIRDA or any other officer, department, agency, or instrumentality of the state or any political subdivision is required to enter into any […]
Sec. 7. (a) The NWIRDA may lease for a nominal lease rental, or sell to the IFA, one (1) or more rail projects or portions of a rail project or land upon which a rail project is located or is to be constructed. (b) Any lease of all or a portion of a rail project […]
Sec. 8. If the NWIRDA exercises its option to purchase leased property, the NWIRDA may issue its bonds as authorized by statute. As added by P.L.189-2018, SEC.26.
Sec. 9. This chapter contains full and complete authority for ground, operating, or maintenance leases of any kind between the NWIRDA and the NICTD. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the NWIRDA or the NICTD or any other officer, department, agency, or instrumentality of the state or any political […]
