(a) Any of the following persons may lease facilities referred to in section 24 of this chapter to a development authority under this chapter:(1) A for-profit or nonprofit corporation organized under Indiana law or admitted to do business in Indiana.(2) A partnership, an association, a limited liability company, or a firm.(3) An individual.(4) A redevelopment authority established under IC 36-7-14.5.(b) Notwithstanding any other law, a lessor under this section and section 24 of this chapter is a qualified entity for purposes of IC 5-1.4.(c) Notwithstanding any other law, a military base development facility leased by the development authority under this chapter from a lessor borrowing bond proceeds from a unit under IC 36-7-12 is an economic development facility for purposes of IC 36-7-11.9-3 and IC 36-7-12.(d) Notwithstanding IC 36-7-12-25 and IC 36-7-12-26, payments by a development authority to a lessor described in subsection (c) may be made from sources set forth in section 24 of this chapter if the payments and the lease are structured to prevent the lease obligation from constituting a debt of a unit or the district for purposes of the Constitution of the State of ion 24 of this chapter if the payments and the lease are structured to prevent the lease obligation from constituting a debt of a unit or the district for purposes of the Constitution of the State of Indiana.As added by P.L.203-2005, SEC.11.
Indiana Legal Code