Ind. Code ch. 5-1-17.1

in effect

Ind. Code § 5-1-17.1-0.3 General assembly findings

Sec. 0.3. The general assembly finds the following: (1) Northwest Indiana as a region and the city face unique and distinct challenges and opportunities related to the economic development issues associated with the construction and maintenance of a world-class stadium facility in the city. (2) A unique approach is required to ensure that northwest Indiana has sufficient revenue sources to allow it to meet these challenges and opportunities. (3) The powers and responsibilities provided to northwest Indiana and to the northwest Indiana stadium authority created by this chapter are appropriate and necessary to carry out the public purposes of encouraging and fostering economic development in northwest Indiana and constructing a world-class stadium facility in the city. (4) The relocation of a National Football League franchised professional football team in northwest Indiana poses unique challenges due to the need for development of a world-class football stadium and related infrastructure that would not be needed apart from the needs related to the relocation of a National Football League franchised professional football team in the city. (5) The relocation of a National Football League franchised professional football team in the city is critical to successful economic development in the city and northwest Indiana and is a public purpose. (6) Encouragement of economic development in northwest Indiana will: (A) provide significant economic activity, a substantial portion of which results from persons residing outside Indiana, which may attract new businesses and encourage existing businesses to remain or expand in the city and northwest Indiana; (B) promote the city and northwest Indiana to residents outside Indiana, which may attract residents outside Indiana and new businesses to relocate to the city and northwest Indiana area; (C) protect and increase state and local tax revenues; and (D) encourage overall economic growth in northwest Indiana and in Indiana. (7) Northwest Indiana faces unique challenges in the development of infrastructure and other facilities necessary to promote economic development: (A) as a result of its need to rely on sources of revenue other than property taxes; (B) due to the large number of tax exempt properties located in northwest Indiana; and (C) because northwest Indiana is the site of numerous state and regional nonprofit corporations. (8) Economic development benefits the health and welfare of the people of Indiana, is a public use and purpose for which public money may be spent, and is of public utility and benefit. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-1 "Authority"

Sec. 1. As used in this chapter, "authority" refers to the northwest Indiana stadium authority created by this chapter. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-2 "Board"

Sec. 2. As used in this chapter, "board" refers to the board of directors of the authority. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-3 "Bonds"

Sec. 3. As used in this chapter, "bonds" means bonds, notes, commercial paper, or other evidences of indebtedness. The term includes obligations (as defined in IC 8-9.5-9-3) and swap agreements (as defined in IC 8-9.5-9-4). As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-4 "Capital improvement"

Sec. 4. As used in this chapter, "capital improvement" means the building, facilities, or improvements that the board determines will be of general public benefit or welfare and will promote the cultural, recreational, public, or civic well-being of the city and northwest Indiana. This includes the land comprising the site, equipment, heating and air conditioning facilities, sewage disposal facilities, landscaping, walks, drives, parking facilities, and other structures, facilities, appurtenances, materials, and supplies that are necessary to make any building, facility, or improvement suitable for the use for which it was constructed. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-4.2 "City"

Sec. 4.2. As used in this chapter, "city" means the city of Hammond, Indiana. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-4.5 "Stadium board"

Sec. 4.5. As used in this chapter, "stadium board" refers to the northwest Indiana stadium board created by 36-10-9.5. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-5 "State agency"

Sec. 5. As used in this chapter, "state agency" means any of the following: (1) An authority, a board, a commission, a committee, a department, a division, or other instrumentality of state government. (2) The Indiana finance authority created by IC 5-1.2-3. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-6 Establishment

Sec. 6. A northwest Indiana stadium authority is hereby created as a separate body corporate and politic as an instrumentality of the state to acquire, construct, equip, own, lease, and finance facilities for lease to or for the benefit of the stadium board. The Indiana finance authority shall provide staff support to the board of directors appointed under section 7 of this chapter. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-7 Membership

Sec. 7. (a) The board is composed of the following members who must be residents of Indiana: (1) The director of the state budget agency, or the director's designee, who shall serve as chair of the board. (2) One (1) member appointed by the executive of the city, who shall serve as the vice chair of the board. (3) The public finance director or the director's designee. (b) If Lake County adopts an ordinance imposing a food and beverage tax pursuant to IC 6-9-36-3 and adopts an ordinance increasing the Lake County innkeeper's tax pursuant to IC 6-9-2-1.5, the following two (2) members shall be added to the board: (1) One (1) member appointed by the county executive of Lake County. (2) One (1) member selected by the public finance director who shall be from Lake County. (c) If Porter County adopts an ordinance imposing a food and beverage tax pursuant to IC 6-9-36-3, the following two (2) members shall be added to the board: (1) One (1) member appointed by the county executive of Porter County. (2) One (1) member selected by the public finance director who shall be from Porter County. (d) A member appointed under subsection (a)(2) serves an initial term that expires December 31, 2027, and each fourth year thereafter. The member may be reappointed by the executive of the city to subsequent terms. The executive of the city shall fill a vacancy in the membership under subsection (a)(2) by appointing a new member for the remainder of the vacated term. (e) Members appointed under subsection (a)(3), subsection (b)(2), and subsection (c)(2) serve an initial term that expires December 31, 2028, and each fourth year thereafter. The members may be reappointed to subsequent terms. The public finance director shall fill a vacancy to the membership under subsection (a)(3), subsection (b)(2), and subsection (c)(2) by appointing a new member for the vacated term. (f) A member appointed under subsection (b)(1) serves an initial term that expires December 31, 2028, and each fourth year thereafter. The member may be reappointed by the county executive of Lake County to subsequent terms. The county executive of Lake County shall fill a vacancy in the membership under subsection (b)(1) by appointing a new member for the remainder of the vacated term. (g) A member appointed under subsection (c)(1) serves an initial term that expires December 31, 2028, and each fourth year thereafter. The member may be reappointed by the county executive of Porter County to subsequent terms. The county executive of Porter County shall fill a vacancy in the membership under subsection (c)(1) by appointing a new member for the remainder of the vacated term. (h) A member appointed under subsection (a)(2), subsection (a)(3), subsection (b)(1), subsection (b)(2), subsection (c)(1), and subsection (c)(2): (1) continues to serve after the expiration of the appointment until a successor is appointed and qualified; and (2) may be removed with or without cause by the appointing authority. (i) Each member appointed under subsection (a)(2), subsection (a)(3), subsection (b)(1), subsection (b)(2), subsection (c)(1), and subsection (c)(2), before entering upon the duties of office, must take and subscribe an oath of office under IC 5-4-1, which shall be endorsed upon the certificate of appointment and filed with the records of the board. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-8 Meetings; officers; quorum

Sec. 8. (a) The board shall hold an annual organizational meeting. (b) The board shall elect one (1) member secretary-treasurer to perform the duties of those offices. The secretary-treasurer shall serve from the date of the member's election and until the member's successor is elected and qualified. (c) Special meetings may be called by the chair of the board. (d) The following apply: (1) Two (2) members constitute a quorum, if no members are appointed to the board under section 7(b) and 7(c) of this chapter. (2) Three (3) members constitute a quorum, if members are appointed to the board under one (1) but not both section 7(b) and 7(c) of this chapter. (3) Four (4) members constitute a quorum, if members are appointed to the board under both section 7(b) and 7(c) of this chapter. The concurrence of a majority of the members is necessary to authorize any action. (e) Subject to IC 5-14-1.5-3.6, members of the board may participate in a meeting of the board by electronic communication. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-9 Bylaws; rules; code of ethics

Sec. 9. (a) The board may adopt the bylaws and rules it considers necessary for the proper conduct of its duties and the safeguarding of the funds and property entrusted to its care. (b) The board shall, without complying with IC 4-22-2, adopt the code of ethics in executive order 05-12 for its members and employees. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-9.5 Personal liability of members or employees

Sec. 9.5. The members, officers and employees of the authority executing bonds, leases, obligations, or other agreements under this chapter are not subject to personal liability or accountability by reason of any act authorized by this chapter. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-10 Purpose

Sec. 10. The authority is organized for the following purposes: (1) Acquiring, financing, constructing, and leasing land and capital improvements to or for the benefit of the stadium board. (2) Financing and constructing additional improvements to capital improvements owned by the authority and leasing them to or for the benefit of the stadium board. (3) Acquiring land or all or a portion of one (1) or more capital improvements from the stadium board by purchase or lease and leasing the land or these capital improvements back to the stadium board, with any additional improvements that may be made to them. (4) Acquiring all or a portion of one (1) or more capital improvements from the stadium board by purchase or lease to fund or refund indebtedness incurred on account of those capital improvements to enable the stadium board to make a savings in debt service obligations or lease rental obligations or to obtain relief from covenants that the stadium board considers to be unduly burdensome. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-11 Powers

Sec. 11. (a) The authority may also: (1) finance, improve, construct, reconstruct, renovate, purchase, lease, acquire, and equip land and capital improvements; (2) lease the land or those capital improvements to the stadium board; (3) sue, be sued, plead, and be impleaded; (4) condemn, appropriate, lease, rent, purchase, and hold any real or personal property needed or considered useful in connection with capital improvements; (5) acquire real or personal property by gift, devise, or bequest and hold, use, or dispose of that property for the purposes authorized by this chapter; (6) after giving notice, enter upon any lots or lands for the purpose of surveying or examining them to determine the location of a capital improvement; (7) design, order, contract for, and construct, reconstruct, and renovate any capital improvements or improvements thereto; (8) employ managers, superintendents, architects, engineers, attorneys, auditors, clerks, construction managers, and other employees; (9) make and enter into all contracts and agreements, including agreements to arbitrate, that are necessary or incidental to the performance of its duties and the execution of its powers under this chapter; (10) acquire in the name of the authority by the exercise of the right of condemnation, in the manner provided in subsection (c), public or private lands, or rights in lands, rights-of-way, property, rights, easements, and interests, as it considers necessary for carrying out this chapter; and (11) take any other action necessary to implement its purposes as set forth in section 10 of this chapter. (b) If the authority is unable to agree with the owners, lessees, or occupants of any real property selected for the purposes of this chapter, the authority may proceed to procure the condemnation of the property under IC 32-24-1. The authority may not institute a proceeding until the authority has adopted a resolution that: (1) describes the real property sought to be acquired and the purpose for which the real property is to be used; (2) declares that the public interest and necessity require the acquisition by the authority of the property involved; and (3) sets out any other facts that the authority considers necessary or pertinent. The resolution is conclusive evidence of the public necessity of the proposed acquisition and shall be referred to the attorney general for action, in the name of the authority, in the circuit or superior court of the county in which the real property is located. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-12 Bonds; refunding; leases; property

Sec. 12. (a) Bonds issued under IC 36-10-9.5 or prior law may be refunded as provided in this section. (b) The stadium board may: (1) lease all or a portion of land or a capital improvement or improvements to the authority, which may be at a nominal lease rental with a lease back to the stadium board, conditioned upon the authority assuming bonds issued under IC 36-10-9.5 or prior law and issuing its bonds to refund those bonds; and (2) sell all or a portion of land or a capital improvement or improvements to the authority for a price sufficient to provide for the refunding of those bonds and lease back the land or capital improvement or improvements from the authority. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-13 Lease; findings; term; conditions

Sec. 13. (a) Before a lease may be entered into by the stadium board under this chapter, the stadium board must find that the lease rental provided for is fair and reasonable. (b) A lease or sublease of land or capital improvements from the authority, or from a state agency under section 25 of this chapter, to the stadium board: (1) may not have a term exceeding forty (40) years; (2) may not require payment of lease rentals for a newly constructed capital improvement or for improvements to an existing capital improvement until the capital improvement or improvements thereto have been completed and are ready for occupancy; (3) may contain provisions: (A) allowing the stadium board to continue to operate an existing capital improvement until completion of the improvements, reconstruction, or renovation of that capital improvement or any other capital improvement; and (B) requiring payment of lease rentals for land, for an existing capital improvement being used, reconstructed, or renovated, or for any other existing capital improvement; (4) may contain an option to renew the lease for the same or shorter term on the conditions provided in the lease; (5) must contain an option for the stadium board to purchase the capital improvement upon the terms stated in the lease during the term of the lease for a price equal to the amount required to pay all indebtedness incurred on account of the capital improvement, including indebtedness incurred for the refunding of that indebtedness; (6) may be entered into before acquisition or construction of a capital improvement; (7) may provide that the stadium board shall agree to: (A) pay all taxes and assessments thereon; (B) maintain insurance thereon for the benefit of the authority; (C) assume responsibility for utilities, repairs, alterations, and any costs of operation; and (D) pay a deposit or series of deposits to the authority from any funds legally available to the stadium board before the commencement of the lease to secure the performance of the stadium board's the obligations under the lease; (8) subject to IC 36-10-9.5-11, may provide that the lease rental payments by the stadium board shall be made from: (A) proceeds of the Hammond admissions tax imposed under IC 6-9-78, which the stadium board or its designee receives pursuant to that chapter; (B) that part of the proceeds of the Lake County and Porter County food and beverage tax imposed under IC 6-9-36, which the stadium board or its designee receives pursuant to that chapter; (C) that part of the proceeds of the Hammond food and beverage tax imposed under IC 6-9-58, which the stadium board or its designee receives pursuant to that chapter; (D) that part of the proceeds of the Lake County innkeeper's tax imposed under IC 6-9-2, which the stadium board or its designee receives pursuant to that chapter; (E) revenue captured under IC 36-7-31.6; (F) revenue captured under IC 36-7-32.6; (G) any other funds available to the stadium board; or (H) any combination of the sources described in clauses (A) through (G); (9) subject to subdivision (10), may provide that the stadium board is responsible for the operation and maintenance of the capital improvement upon completion of construction, including the negotiation and maintenance of agreements with tenants or users of the capital improvement; (10) must provide that, during the term of the lease, the authority retains the right to approve any lease agreements and amendments to any lease agreements between the stadium board and any National Football League franchised professional football team that will use the capital improvement; and (11) must provide that: (A) subject to the terms of the lease, the stadium board will retain all revenues from operation of the capital improvement; and (B) the authority has no responsibility to fund the ongoing maintenance and operations of the capital improvement. (c) The stadium board may designate the authority as its agent to receive on behalf of the stadium board any of the revenues identified in subsection (b)(8). (d) All information prepared by the stadium board or a political subdivision served by the stadium board with respect to a capital improvement proposed to be financed under this chapter, including a construction budget and timeline, must be provided to the budget director. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-14 Complete authority

Sec. 14. This chapter contains full and complete authority for leases between the authority and the stadium board. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the board or the stadium board or any other officer, department, agency, or instrumentality of the state or any political subdivision is required to enter into any lease, except as prescribed in this chapter. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-15 Capital improvement plans and specifications; approval

Sec. 15. If the lease provides for a capital improvement or improvements thereto to be constructed by the authority, the plans and specifications shall be submitted to and approved by all agencies designated by law to pass on plans and specifications for public buildings. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-16 Agreements; common wall; easements; licenses

Sec. 16. The authority and the stadium board may enter into common wall (party wall) agreements or other agreements concerning easements or licenses. These agreements shall be recorded with the recorder of the county in which the capital improvement is located. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-17 Capital improvement; land; sale; lease

Sec. 17. (a) The stadium board may lease for a nominal lease rental, or sell to the authority, one (1) or more capital improvements or portions thereof or land upon which a capital improvement is located or is to be constructed. (b) Any lease of all or a portion of a capital improvement by the stadium board to the authority must be for a term equal to the term of the lease of that capital improvement back to the stadium board. (c) The stadium board may sell property to the authority. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-18 Bond issues

Sec. 18. (a) Subject to subsection (h), the authority may issue bonds for the purpose of obtaining money to pay the cost of: (1) acquiring real or personal property, including existing capital improvements; (2) constructing, improving, reconstructing, or renovating one (1) or more capital improvements; or (3) funding or refunding bonds issued under IC 36-10-9.5 or prior law. (b) The bonds are payable from the lease rentals from the lease of the capital improvements for which the bonds were issued, insurance proceeds, and any other funds pledged or available. (c) The bonds shall be authorized by a resolution of the board. (d) The terms and form of the bonds shall either be set out in the resolution or in a form of trust indenture approved by the resolution. (e) The bonds shall mature within forty (40) years. (f) The board shall sell the bonds at public or private sale upon the terms determined by the board. (g) All money received from any bonds issued under this chapter shall be applied to the payment of the cost of the acquisition or construction, or both, of capital improvements, or the cost of refunding or refinancing outstanding bonds, for which the bonds are issued. The cost may include: (1) planning and development of the facility and all buildings, facilities, structures, and improvements related to it; (2) acquisition of a site and clearing and preparing the site for construction; (3) equipment, facilities, structures, and improvements that are necessary or desirable to make the capital improvement suitable for use and operations; (4) architectural, engineering, consultant, and attorney's fees; (5) incidental expenses in connection with the issuance and sale of bonds; (6) reserves for principal and interest; (7) interest during construction; (8) financial advisory fees; (9) insurance during construction; (10) municipal bond insurance, debt service reserve insurance, letters of credit, or other credit enhancement; and (11) in the case of refunding or refinancing, payment of the principal of, redemption premiums (if any) for, and interest on, the bonds being refunded or refinanced. (h) The authority may not issue bonds under this chapter unless the authority first finds that the following conditions are met: (1) The stadium board and the authority have entered into a written agreement concerning the terms of the financing of the facility. This agreement must include the following provisions: (A) The stadium board agrees to take any legal action that the authority considers necessary to facilitate the financing of the facility, including entering into agreements during the design and construction of the facility or a sublease of a capital improvement to any state agency that is then leased by the authority to any state agency under section 25 of this chapter. (B) The stadium board is prohibited from taking any other action with respect to the financing of the facility without the prior approval of the authority. The authority is not bound by the terms of any agreement entered into by the stadium board with respect to the financing of the facility without the prior approval of the authority. (C) As the project financier, the Indiana finance authority (or its successor agency) and the public finance director will be responsible for selecting all investment bankers, bond counsel, trustees, and financial advisors. (D) The authority agrees to consult with the staff of the stadium board on an as needed basis during the design and construction of the facility, and the stadium board agrees to make its staff available for this purpose. (E) The authority, the city, the stadium board, and the National Football League franchised professional football team must commit to using their best efforts to assist and cooperate with one another to design and construct the facility on time and on budget. (2) The stadium board and the National Football League franchised professional football team have entered into a lease for the stadium part of the facility that has been approved by the authority and has a term of at least thirty-five (35) years. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-18.5 Negotiating with a single bidder for a project

Sec. 18.5. (a) This section applies to bids received with respect to a capital improvement under this chapter: (1) that is constructed by, for, or on behalf of the authority; and (2) for which only one (1) bid was received from a responsible bidder. (b) The board may attempt to negotiate a more advantageous proposal and contract with the bidder if the board determines that rebidding: (1) is not practicable or advantageous; or (2) would adversely affect the construction schedule or budget of the project. (c) The board shall prepare a bid file containing the following information: (1) A copy of all documents that are included as part of the invitation for bids. (2) A list of all persons to whom copies of the invitation for bids were given, including the following information: (A) A log of the dates and times of each meeting with the bidder. (B) The name of each bidder who responded and the dollar amount of the bid. (C) A summary of the bid receded. (3) The basis on which the bid was accepted. (4) Documentation of the board's negotiating process with the bidder. The documentation must include the following: (A) A log of the dates and times of each meeting with the bidder. (B) A description of the nature of all communications with the bidder. (C) A copy of all written communications, including electronic communications, with the bidder. (5) The entire contents of the contract file except for proprietary information included with the bid, such as trade secrets, manufacturing processes, and financial information that was not required to be made available for public inspection by the terms of the invitation for bids. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-19 Bonds; complete authority

Sec. 19. This chapter contains full and complete authority for the issuance of bonds. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by the board or any other officer, department, agency, or instrumentality of the state or of any political subdivision is required to issue any bonds, except as prescribed in this chapter. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-20 Bonds; legal investments

Sec. 20. Bonds issued under this chapter are legal investments for private trust funds and the funds of banks, trust companies, insurance companies, building and loan associations, credit unions, banks of discount and deposit, savings banks, loan and trust and safe deposit companies, rural loan and savings associations, guaranty loan and savings associations, mortgage guaranty companies, small loan companies, industrial loan and investment companies, and other financial institutions organized under Indiana law. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-21 Bonds; security

Sec. 21. (a) The authority may secure bonds issued under this chapter by a trust indenture between the authority and a corporate trustee, which may be any trust company or national or bank having the powers of a trust company in Indiana. (b) The trust indenture may: (1) pledge or assign lease rentals, receipts, and income from leased capital improvements, but may not mortgage land or capital improvements; (2) contain reasonable and proper provisions for protecting and enforcing the rights and remedies of the bondholders, including covenants setting forth the duties of the authority and board; (3) set forth the rights and remedies of bondholders and trustee; and (4) restrict the individual right of action of bondholders. (c) Any pledge or assignment made by the authority under this section is valid and binding from the time that the pledge or assignment is made, against all persons whether or not they have notice of the lien. Any trust indenture by which a pledge is created or an assignment made need not be filed or recorded. The lien is perfected against third parties by filing the trust indenture in the records of the board. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-22 Bond issue for leased property purchase

Sec. 22. If the stadium board exercises its option to purchase leased property, it may issue its bonds as authorized by statute. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-23 Tax exemption

Sec. 23. All: (1) property owned by the authority; (2) property leased to or by the authority; (3) revenues of the authority; and (4) bonds issued by the authority, the interest on the bonds, the proceeds received by a holder from the sale of bonds to the extent of the holder's cost of acquisition, proceeds received upon redemption before maturity, proceeds received at maturity, and the receipt of interest in proceeds; are exempt from taxation in Indiana for all purposes except the financial institutions tax imposed under IC 6-5.5. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-24 Bonds; contesting validity

Sec. 24. Any action to contest the validity of bonds to be issued under this chapter may not be brought after the fifteenth day following: (1) the receipt of bids for the bonds, if the bonds are sold at public sale; or (2) the publication one (1) time in a newspaper of general circulation published in either Lake County or Porter County of notice of the execution and delivery of the contract for the sale of bonds; whichever occurs first. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-24.1 Bonds; issuance; city must impose excise tax

Sec. 24.1. The authority shall not issue bonds to finance any capital improvement in the city unless the fiscal body of the city imposes the tax authorized by IC 6-9-78-2 by the maximum amount authorized by IC 6-9-78-3(a). As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-25 Leases between authority and state agency

Sec. 25. (a) Notwithstanding any other law, any capital improvement that may be leased by the authority to the stadium board under this chapter may also be leased by the authority to any state agency to accomplish the purposes of this chapter. Any lease between the authority and a state agency under this chapter: (1) must set forth the terms and conditions of the use and occupancy under the lease; (2) must set forth the amounts agreed to be paid at stated intervals for the use and occupancy under the lease; (3) must provide that the state agency is not obligated to continue to pay for the use and occupancy under the lease but is instead required to vacate the facility if it is shown that the terms and conditions of the use and occupancy and the amount to be paid for the use and occupancy are unjust and unreasonable considering the value of the services and facilities thereby afforded; (4) must provide that the state agency is required to vacate the facility if funds have not been appropriated or are not available to pay any sum agreed to be paid for use and occupancy when due; (5) may provide for such costs as maintenance, operations, taxes, and insurance to be paid by the state agency; (6) may contain an option to renew the lease; (7) may contain an option to purchase the facility for an amount equal to the amount required to pay the principal and interest of indebtedness of the authority incurred on account of the facility and expenses of the authority attributable to the facility; (8) may provide for payment of sums for use and occupancy of an existing capital improvement being used by the state agency, but may not provide for payment of sums for use and occupancy of a new capital improvement until the construction of the capital improvement or portion thereof has been completed and the new capital improvement or a portion thereof is available for use and occupancy by the state agency; and (9) may contain any other provisions agreeable to the authority and the state agency. (b) Any state agency that leases a capital improvement from the authority under this chapter may sublease the capital improvement to the stadium board under the terms and conditions set forth in section 13(a) of this chapter, section 13(b)(1) through 13(b)(4) of this chapter, section 13(b)(6) through 13(b)(8) of this chapter, and section 13(c) of this chapter. (c) Notwithstanding any other law, in anticipation of the construction of any capital improvement and the lease of that capital improvement by the authority to a state agency, the authority may acquire an existing facility owned by the state agency and then lease the facility to the state agency. A lease made under this subsection shall describe the capital improvement to be constructed and may provide for the payment of rent by the state agency for the use of the existing facility. If such rent is to be paid pursuant to the lease, the lease shall provide that upon completion of the construction of the capital improvement, the capital improvement shall be substituted for the existing facility under the lease. The rent required to be paid by the state agency pursuant to the lease shall not constitute a debt of the state for purposes of the Constitution of the State of Indiana. A lease entered into under this subsection is subject to the same requirements for a lease entered into under subsection (a) with respect to both the existing facility and the capital improvement anticipated to be constructed. (d) This chapter contains full and complete authority for leases between the authority and a state agency and subleases between a state agency and the stadium board. No laws, procedures, proceedings, publications, notices, consents, approvals, orders, or acts by the board, the governing body of any state agency or the stadium board or any other officer, department, agency, or instrumentality of the state or any political subdivision is required to enter into any such lease or sublease, except as prescribed in this chapter. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-26 Real property conveyance without bid or advertisement

Sec. 26. In order to enable the authority to lease a capital improvement or existing facility to a state agency under section 25 of this chapter, the public finance director or fiscal body of a municipality (as defined in IC 5-11-1-16) in northwest Indiana may convey, transfer, or sell, with or without consideration, real property (including the buildings, structures, and improvements), 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 chapter. As added by P.L.44-2026, SEC.1.

Ind. Code § 5-1-17.1-27 Lease payments from taxes; budget director designee

Sec. 27. If the authority enters into a lease with the stadium board under section 13 of this chapter or a state agency under section 25 of this chapter, which then enters into a sublease with the stadium board under section 25(b) of this chapter, and the rental payments owed by the stadium board to the authority under the lease or to the state agency under the sublease are payable from the revenues described in section 13(b)(8) of this chapter or from the taxes authorized under IC 6-9-2, IC 6-9-36, or IC 6-9-58, the budget director may choose the designee of the stadium board, which shall receive and deposit the revenues derived from such taxes. The designee shall hold the revenues on behalf of the stadium board pursuant to an agreement between the authority and the stadium board or between a state agency and the stadium board. The agreement shall provide for the application of the revenues in a manner that does not adversely affect the validity of the lease or the sublease, as applicable. As added by P.L.44-2026, SEC.1.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026