reglab/housing_qa huggingface dataset:
IN Code § 8-14.5-2-4 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-4. Capitalized Interest

Sec. 4. "Capitalized interest" means interest cost on bonds or notes before and during the period of construction of the project for which the bonds or notes were issued, and for a period not to exceed one (1) year after completion of construction.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-2-5 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-5. Construction

Sec. 5. "Construction" means the construction, acquisition, reconstruction, improvement, and extension of a project.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-2-6 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-6. Costs

Sec. 6. "Costs" as applied to any project includes any item or cost of a capital nature incurred in the construction of a project, including:(1) the cost of construction;(2) the cost of acquisition of all land, rights-of-way, property, rights, easements, and any other legal or equitable interests acquired by the authority for the construction, including the cost of any relocations incident to the acquisition;(3) the cost of demolishing or removing any buildings, structures, or improvements on property acquired by the authority including the cost of:(A) acquiring any property to which the buildings, structures, or improvements may be moved; or(B) acquiring any property which may be exchanged for property acquired by the authority;(4) financing charges;(5) costs of issuance of bonds or notes, including costs of credit enhancement, such as bond or note insurance;(6) remarketing or conversion fees;(7) bond or note discount;(8) capitalized interest;(9) the cost of funding any reserves to secure the payment of bonds or notes;(10) engineering and legal expenses, costs of plans, specifications, surveys, estimates, and any necessary feasibility studies;(11) other expenses necessary or incident to determining the feasibility or practicability of constructing any project;(12) administrative expenses of the authority or the department relating to any project financed by bonds or notes;(13) reimbursement of the department for:(A) any cost, obligation, or expense incurred by the department relating to a project;(B) advances relating to a project from the department to the authority for surveys, borings, preparation of plans and specifications, or engineering services; or(C) any other cost of construction incurred by the department or paid from advances; and(14) other expenses the authority finds necessary or incident to the construction of the project, the financing of the construction, and the placing of the project in operation.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-2-7 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-7. Department

Sec. 7. "Department" refers to the Indiana department of transportation established under IC 8-23-2.As added by P.L.68-1988, SEC.12. Amended by P.L.18-1990, SEC.125.
IN Code § 8-14.5-2-8 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-8. Notes

Sec. 8. "Notes" refers to notes of the authority issued under IC 8-14.5-6 or IC 8-14.5-7 and includes any evidences of indebtedness of the authority except bonds.As added by P.L.68-1988, SEC.12. Amended by P.L.246-2005, SEC.81.
IN Code § 8-14.5-2-9 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-9. Project

Sec. 9. "Project" means any:(1) express highway;(2) superhighway;(3) state highway;(4) public highway;(5) road;(6) street;(7) motorway;(8) bridge;(9) tunnel;(10) overpass;(11) underpass;(12) interchange;(13) entrance;(14) approach; or(15) other public way;that the authority considers necessary or desirable for the operation of transportation systems. "Project" includes all land, rights-of-way, property, rights, easements, materials, and legal or equitable interests that may be acquired by the authority for the construction of the project.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-2-10 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-10. Property Owner

Sec. 10. "Property owner" means all individuals, copartnerships, associations, governmental units or entities, corporations, limited liability companies, or other legal entities having any title or interest in any land, rights-of-way, property, rights, easements, or legal or equitable interests that may be acquired by the authority.As added by P.L.68-1988, SEC.12. Amended by P.L.8-1993, SEC.142.
IN Code § 8-14.5-2-11 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-11. Public Thoroughfares

Sec. 11. "Public thoroughfares" means any facilities for the movement of vehicular traffic owned by any governmental entity other than the state.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-2-12 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-12. Transportation Systems

Sec. 12. "Transportation systems" means any facilities for the movement of vehicular traffic owned, leased, or operated by the state or the authority.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-2-13 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-13. Weighted Average Life

Sec. 13. "Weighted average life" of an issue of bonds or notes means:(1) the sum of the products of the face amount of each maturity and the number of years to maturity (determined separately for each maturity and by taking into account mandatory sinking fund redemptions); divided by(2) the face amount of the entire issue of bonds or notes.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-2-14 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 2. Definitions|8-14.5-2-14. Weighted Average Useful Life

Sec. 14. "Weighted average useful life" of a project or projects means:(1) the sum of the products of the cost of each asset comprising the project or projects and the useful life of the respective asset; divided by(2) the total cost of all the assets comprising the project or projects.For purposes of this computation, the useful life of land is fifty (50) years. The useful life of all other assets comprising the project shall be conclusively evidenced by a certificate of the department based on its experience in maintaining transportation systems. The weighted average useful life of any project shall be determined as of the later of the date on which the project is expected to be placed in service and the date on which the bonds or notes are issued.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-1 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-1. Project and Transportation System Contracts

Sec. 1. The authority may contract with the department for construction, ownership, maintenance, and operation of projects and transportation systems.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-2 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-2. Project Financing

Sec. 2. The authority may finance projects in accordance with this article.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-3 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-3. Cooperative Agreements

Sec. 3. The authority may exercise any powers provided under this article in participation or cooperation with any governmental entity, including the department, and enter into any contracts to facilitate that participation or cooperation without compliance with any other statute.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-4 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-4. Payment of Transportation System Costs

Sec. 4. The authority may pay the cost of construction of a project or of owning or leasing transportation systems from any funds available to the authority under this article or any other law.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-5 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-5. Transfer of Property Rights

Sec. 5. The authority may sell, transfer, lease, or otherwise convey any land, rights-of-way, property, rights, easements, or legal or equitable interest it considers necessary or convenient for carrying out the provisions of this article, including disposal of unused or surplus property.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-6 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-6. Acquisition of Property Rights

Sec. 6. The authority may acquire by purchase, whenever it considers a purchase expedient, any land, rights-of-way, property, rights, easements, or other legal or equitable interests as it considers necessary or convenient for the construction and operation of any project. A purchase under this section shall be made upon the terms and at the price agreed upon between the authority and the property owner. However, the authority shall take title to the property in the name of the state.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-7 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-7. Contracts and Agreements

Sec. 7. The authority may make and enter into all contracts and agreements necessary or incidental to the performance of its duties and the execution of its powers under this article or any other law. These contracts or agreements are not subject to any approvals other than the approval of the authority and may be for any term of years and contain any terms that are considered reasonable by the authority.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-9 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-9. Grants

Sec. 9. The authority may receive and accept from any federal or state agency grants for or in aid of the construction of any project and repay any grant to the authority or to the department from a federal agency if the repayment is necessary to free the authority from restrictions which the authority determines to be in the public interest to remove. Any repayment under this section shall be made from funds available to the authority at the time the repayment is required and shall be made in a way that does not impair any contract between the authority and the owners of its bonds or notes.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-10 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-10. Gifts and Bequests

Sec. 10. The authority may accept gifts, devises, bequests, grants, appropriations, revenue sharing, other financing and assistance, and any other aid from any source and agree to and comply with conditions attached to the aid.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-11 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-11. Transfer of Projects to Authority

Sec. 11. The authority may accept the transfer of any project or transportation system to the authority.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-12 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-12. Appropriation; Relocation of Appropriated Facilities

Sec. 12. (a) Except as provided in subsection (b), the authority may, in the manner provided by IC 8-23-7, acquire by appropriation any land, rights-of-way, property, rights, easements, or other legal or equitable interests necessary or convenient for the construction or the efficient operation of any project. However, compensation for the property taken shall first be made in money as provided by law.(b) The authority may take or disturb property or facilities that:(1) belong to any public utility or to a common carrier engaged in interstate commerce;(2) are required for the proper and convenient operation of the public utility or common carrier; and(3) are not located within the limits of existing transportation systems or projects being constructed under this article;only if provision is made for the restoration, relocation, or duplication of the property or facilities elsewhere at the cost of the authority.As added by P.L.68-1988, SEC.12. Amended by P.L.18-1990, SEC.126.
IN Code § 8-14.5-3-13 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-13. Necessary and Proper Acts

Sec. 13. The authority may do all things necessary or proper to carry out this article.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-14 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-14. Transfers From State to Authority; Advertising and Bids

Sec. 14. The state, acting through the governor, may convey, transfer, lease, or sell, with or without consideration, real property of any nature (including buildings, structures, improvements, land, rights-of-way, easements, and legal or equitable interests) title to which is held in the name of the state, to the authority, without being required to advertise or solicit bids or proposals, in order to accomplish the governmental purposes of this article.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-3-15 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 3. General Provisions|8-14.5-3-15. Tax Exemption

Sec. 15. All property of the authority is public property devoted to an essential public and governmental function and purpose and is exempt from all taxes and special assessments of the state or any political subdivision of the state.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-4-1 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 4. Contracts With the Department|8-14.5-4-1. Authorization of Contracts

Sec. 1. The authority is responsible for the construction, leasing, and ownership of projects. With respect to each project, the authority and the department may enter into a contract for the purposes set forth in this chapter. If the authority and the department decide to enter into a contract under this chapter, the authority and the department may enter into a separate contract for each project or a master contract for several projects.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-4-2 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 4. Contracts With the Department|8-14.5-4-2. Mandatory Contract Provisions

Sec. 2. A contract under this chapter must:(1) provide for the construction and ownership of the project; and(2) describe the project or projects, setting forth in general terms principal features such as geographic location, widths of rights-of-way, number of lanes in each direction, width of traffic lanes, widths of shoulders, location and nature of tunnels, overpasses, underpasses, interchanges, bridges, approaches, and connecting highways.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-4-3 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 4. Contracts With the Department|8-14.5-4-3. Permissive Contract Provisions

Sec. 3. The contract may include the following:(1) Provisions for payment by the authority to the department of all costs incurred by the department in the performance of the contracts, including all costs of construction, salaries, wages, and associated costs of department personnel attributable to performance of the contract.(2) Other terms and conditions that the authority and the department consider appropriate.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-5-1 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 5. Leases With the Department|8-14.5-5-1. Authority and Department Powers

Sec. 1. (a) In addition to its other powers, the department may enter into a lease or leases with the authority under section 2 or 3 of this chapter for any or all of the purposes set forth in this article.(b) The authority has all the powers necessary and incidental to carry out the terms and conditions of leases under this chapter.(c) If the authority and the department decide to enter into a lease under this chapter, the authority and the department may enter into a separate lease for each project or may enter into one (1) or more master leases for several projects.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-5-2 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 5. Leases With the Department|8-14.5-5-2. Mandatory Lease Provisions

Sec. 2. (a) A lease entered into under this section must include the following:(1) A statement that the term of the lease is for a period coextensive with the biennium used for state budgetary and appropriation purposes with a fractional period when the lease begins, if necessary.(2) A statement that the term of the lease is extended from biennium to biennium, with the extensions not to exceed a lease term of twenty-five (25) years, unless either the authority or the department gives notice of nonextension at least six (6) months before the end of a biennium, in which event the lease expires at the end of the biennium in which the notice is given.(3) A provision plainly stating that the lease does not constitute an indebtedness of the state within the meaning or application of any constitutional provision or limitation, and that lease rentals are payable by the department solely from biennial appropriations, for the actual use or availability for use of projects provided by the authority, with payment commencing no earlier than the time the use or availability commences.(4) Provisions requiring the department to pay rent at times and in amounts sufficient to pay in full:(A) the debt service payable under the terms of any bonds or notes issued by the authority and outstanding with respect to any project, including any required additions to reserves for the bonds or notes maintained by the authority; and(B) additional rent as provided by the lease;subject to appropriation of money to pay lease rentals.(5) Provisions requiring the department to operate and maintain the project or projects during the term of the lease.(6) A provision in each master lease for two (2) or more projects requiring that each project added to the master lease shall be covered by a supplemental lease describing the particular project, stating the additional rental payable and providing that all lease covenants, including the obligation to pay the original and additional rent under any supplement, shall be unitary and include all projects covered, whether by the master lease or a supplemental lease.(b) A lease entered into under this section may contain other terms and conditions that the authority and the department consider appropriate.(c) The department shall request an appropriation for payment of lease rentals on any lease entered into under this section in writing at a time sufficiently in advance of the date for payment of the lease rentals so that an appropriation may be made in the normal state budgetary process.(d) If the department fails at any time to pay to the authority when due any lease rentals on any lease under this section, the chairman of the authority shall immediately report the unpaid amount in writing to the governor and in an electronic format under IC 5-14-6 to the general assembly.As added by P.L.68-1988, SEC.12. Amended by P.L.28-2004, SEC.73.
IN Code § 8-14.5-5-3 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 5. Leases With the Department|8-14.5-5-3. Mandatory Lease Provisions

Sec. 3. (a) A lease entered into under this section must include the following:(1) The term of the lease, which may not exceed weighted average useful life of the project or projects.(2) A provision plainly stating that the lease does not constitute an indebtedness of the state within the meaning or application of any constitutional provision or limitation, and that lease rentals are payable by the department solely for the annual use or availability for use of projects provided by the authority, with payment commencing no earlier than the time the use or availability commences.(3) Provisions requiring the department to pay rent at times and in amounts sufficient to pay in full the following:(A) The debt service payable under the terms of any bonds or notes issued by the authority and outstanding with respect to any project, including any required additions to reserves for the bonds or notes maintained by the authority.(B) Additional rent as provided by the lease.(4) Provisions requiring the department to operate and maintain the project or projects during the term of the lease.(5) A provision in each master lease for two (2) or more projects requiring that each project added to the master lease shall be covered by a supplemental lease describing the particular project, stating the additional rental payable and providing that all lease covenants, including the obligation to pay the original and additional rent under any supplement, shall be unitary and include all projects covered, whether by the master lease or a supplemental lease.(b) A lease entered into under this section may contain other terms and conditions that the authority and the department consider appropriate.As added by P.L.68-1988, SEC.12.
IN Code § 8-14.5-5-4 (2021)
2021 Indiana Code|Title 8. Utilities and Transportation|Article 14.5. Lease Financing for Transportation Systems|Chapter 5. Leases With the Department|8-14.5-5-4. Sale or Conveyance of Transportation System

Sec. 4. The department may sell, transfer, or convey by any means any transportation system to the authority through negotiation of a lease. The department may lease any existing transportation system or property under its control to the authority for construction of a project, which project may be leased to the department.As added by P.L.68-1988, SEC.12.