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 and neither the IFA or the NWIRDA shall have any further obligation with respect to the rail project or rail projects.
As added by P.L.189-2018, SEC.26. Amended by P.L.10-2019, SEC.29.
Structure Indiana Code
Title 5. State and Local Administration
5-1.3-5-1. Authorization to Enter Into Leases
5-1.3-5-3. Transfers, Leases, and Leasebacks
5-1.3-5-4. Payment of Lease Rentals and Securing Bonds
5-1.3-5-7. Additional Authorization
5-1.3-5-8. Financing Upon Termination of Lease
5-1.3-5-9. Ground, Operating, and Maintenance Leases
5-1.3-5-10. Transfer of Rail Project Upon Payment of Obligation in Full