Sec. 17. (a) The capital improvement board may lease for a nominal lease rental, or sell to the authority, one (1) or more capital improvements or portions thereof or land upon which a capital improvement is located or is to be constructed.
(b) Any lease of all or a portion of a capital improvement by the capital improvement board to the authority must be for a term equal to the term of the lease of that capital improvement back to the capital improvement board.
(c) The capital improvement board may sell property to the authority for such amount as it determines to be in the best interest of the capital improvement board, which amount may be paid from the proceeds of bonds of the authority.
As added by P.L.82-1985, SEC.12.
Structure Indiana Code
Article 10. Recreation, Culture, and Community Facilities
Chapter 9.1. Marion County Convention and Recreational Facilities Authority
36-10-9.1-1. Application of Chapter
36-10-9.1-2. "Authority" Defined
36-10-9.1-5. "Capital Improvement Board" Defined
36-10-9.1-6. Creation of Authority
36-10-9.1-7. Board of Directors; Members
36-10-9.1-8. Organizational Meeting; Officers; Special Meetings; Quorum
36-10-9.1-11.5. Prohibition on Certain Contract Limitations for a Project
36-10-9.1-12. Refunding of Bonds
36-10-9.1-13. Lease of Capital Improvements to Capital Improvement Board; Terms
36-10-9.1-14. Leases; Exclusivity of Provisions of This Chapter
36-10-9.1-15. Approval of Plans and Specifications
36-10-9.1-16. Common Wall Agreements
36-10-9.1-17. Lease or Sale of Property by Capital Improvement Board to the Authority
36-10-9.1-18.1. Bonds; Issuance by Authority
36-10-9.1-18.2. Bonds; Exclusivity of This Chapter
36-10-9.1-19. Investment in Bonds of Authority
36-10-9.1-20. Trust Indenture as Security for Bonds
36-10-9.1-21. Bonds; Issuance by Capital Improvement Board
36-10-9.1-23. Actions Contesting Validity of Bonds; Limitations