Sec. 15. (a) Property leased by the authority to another entity other than the department of natural resources, at the termination of the lease or a renewal of the lease, may be leased to the same or other persons upon the terms the authority determines after following the procedure in section 6 of this chapter. If the authority does not lease the property, the property reverts to the control of the department of natural resources for the department's use and operation. The authority may not operate the property.
(b) If the authority is entitled to take over the operation of property because of a default in an agreement, the authority may operate the property through the authority's employees or contract with others for the operation of the property. The contract for operation may be with the department of natural resources if the department is not a defaulting party.
As added by P.L.189-2018, SEC.25.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.2. Indiana Finance Authority
Chapter 6. Recreational Development Facilities and Park Projects
5-1.2-6-1. Recreational Facilities and Park Projects; Request; Findings; Authorization
5-1.2-6-4. Authority's Exercise of Powers an Essential Governmental Function
5-1.2-6-6. Authority May Lease Property to the Department of Natural Resources; Lease Terms
5-1.2-6-7. Public Notice and Bidding Required for Certain Contracts
5-1.2-6-10. Use of Park Improvement Agreements; Terms
5-1.2-6-11. Payment of Expenses