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Indiana Code Title 8. Utilities and Transportation § 8-15.7-5-6

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 6. (a) Upon the termination or expiration of the public-private agreement, including a termination for default, the department may take over the qualifying project and succeed to all of the right, title, and interest in the qualifying project.  The department may agree to accept the qualifying project subject to any liens on revenues previously granted by the operator to any person providing financing for the qualifying project.

(b) If the department elects to take over a qualifying project, the department may do all or part of the following:

(1) Develop, finance, or operate the project.

(2) Impose, collect, retain, and use user fees, if any, for the project.

(c) The department may use any revenues collected under this section for any of the following purposes or any other authorized use under this article:

(1) Making payments to individuals or entities in connection with the financing of the qualifying project.

(2) Paying development costs of the project.

(3) Paying current operation costs of the project or facilities, including compensation to the department for the services of the department in operating the qualifying project.

(4) Paying the operator for any compensation or payment owing upon termination.

(d) The full faith and credit of the state or any political subdivision or the authority is not pledged to secure any financing of the operator by the election to take over the qualifying project.  Assumption of development or operation, or both, of the qualifying project does not obligate the state or any political subdivision or the authority to pay any obligation of the operator.

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Cite this article: FindLaw.com - Indiana Code Title 8. Utilities and Transportation § 8-15.7-5-6 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-8-utilities-and-transportation/in-code-sect-8-15-7-5-6/

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