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2018 Indiana Code
TITLE 5. State and Local Administration
ARTICLE 23. PUBLIC-PRIVATE AGREEMENTS
CHAPTER 6. Contract Terms and Conditions
5-23-6-3. Payments to parties upon termination
Universal Citation: IN Code § 5-23-6-3 (2018)
IC 5-23-6-3 Payments to parties upon termination
Sec. 3. The public-private agreement may provide for the payment of money to either party if the public-private agreement is terminated. The payments may be used in the form of liquidated damages to compensate the operator for demonstrated unamortized costs, to retire or refinance indebtedness created to improve or construct assets owned by the governmental body, or for any other purpose mutually agreeable to the operator and the governmental body.
As added by P.L.49-1997, SEC.34.
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