§ 36-7-13-21 — Written agreements for joint economic development projects

(a) Two (2) or more:
(1) advisory commissions; or
(2) legislative bodies;
or any combination of advisory commissions and legislative bodies
may enter into a written agreement under this section to jointly
undertake economic development projects.
(b) A party to an agreement under this section may do one (1) or
more of the following:
(1) Except as provided in subsection (c), grant one (1) or more of
its powers to another party to the agreement.
(2) Exercise any power granted to it by a party to the agreement.
(3) Pledge any of its revenues to the bonds or lease rental
obligations of another party to the agreement under IC 5-1-14-4.
(c) A party to an agreement under this section may not grant another
party to the agreement the power to tax or to establish a district under
this chapter.
(d) An action to challenge the validity of an agreement under this
section must be brought not more than thirty (30) days after the
agreement has been approved by all the parties to the agreement. After
that period has passed, the agreement is not contestable for any cause.

Legislative History

As added by P.L.203-2005, SEC.9.