Sec. 5. After selecting the most appropriate operating agent applicant, the commission may enter into an operating agent contract with the person. The operating agent contract must comply with this article and include the following terms and conditions:
(1) The operating agent must pay a nonrefundable initial fee of one million dollars ($1,000,000) to the commission. The fee must be deposited by the commission into the West Baden Springs historic hotel preservation and maintenance fund established by IC 36-7-11.5-11(b).
(2) The operating agent must post a bond as required in section 6 of this chapter.
(3) The operating agent must locate the riverboat in a historic hotel district at a location approved by the commission.
(4) The operating agent must comply with any requirements concerning the exterior design of the riverboat that are approved by the commission.
(5) Notwithstanding any law limiting the maximum length of contracts:
(A) the initial term of the contract may not exceed twenty (20) years; and
(B) any renewal or extension period permitted under the contract may not exceed twenty (20) years.
(6) The operating agent must collect and remit all taxes under IC 4-33-13.
(7) The operating agent must comply with the restrictions on the transferability of the operating agent contract under section 12 of this chapter.
As added by P.L.92-2003, SEC.31. Amended by P.L.234-2007, SEC.278; P.L.268-2017, SEC.23.