Sec. 4. All contracts of lease may provide that a county has the option to purchase the bridge before the expiration of the lease contract, the terms and conditions of the purchase to be specified in the lease, subject to the approval of the department of local government finance. If the county has not exercised an option to purchase the property covered by the lease contract at the expiration of the lease contract, and upon the full discharge and performance by the county of its obligations under the lease contract, the bridge covered by the lease contract shall become the absolute property of the county and the lessor corporation shall execute proper instruments conveying to the county title to the property. Formerly: Acts 1975, P.L.92, SEC.2. As amended by P.L.86-1988, SEC.26; P.L.90-2002, SEC.323.
IC 8-16-3.5-5 Not-for-profit corporations proposing to build bridges; plans and specifications Sec. 5. Not-for-profit corporations proposing to build a bridge may assist the lessee, before the execution of a contract of lease, in the preparation and acquisition of plans, specifications, and estimates for the bridge, or the lessee may prepare or otherwise acquire plans and specifications for the bridge. All plans and specifications shall be submitted to agencies as designated by law to pass on plans and specifications for bridges, and the plans and specifications shall be approved by those agencies and the lessee in writing prior to the execution of the contract of lease. Formerly: Acts 1975, P.L.92, SEC.2. As amended by P.L.86-1988, SEC.27.