IC 5-1.3-3-8: Grants; authorization

Sec. 8. The IFA, the NWIRDA, or the NICTD (each entity referred to in this section as the "grantee") may receive and accept from any federal or state agency grants for or in aid of the construction of any rail project and repay any grant to the grantee from a federal agency if the repayment is necessary to free the grantee from restrictions that the grantee determines to be in the public interest to remove, or otherwise required by the terms of the grant. Any repayment under this section shall be made from funds available to the grantee at the time the repayment is required and shall be made in a way that does not impair any contract between the grantee and the owners of its bonds or notes or any lease of the grantee.