§ 36-7-13-3 — "Improve"; authority to acquire, own, and deal in real property; expenditure of funds

(a) For purposes of this chapter, "improve"
means to construct, reconstruct, or repair public ways, sidewalks,
sewers, drains, fences, or buildings, and to do all other things that
would enhance the value of real property and make it more suitable to
industrial use.
(b) A unit may acquire by purchase, gift, or devise, and own,
improve, maintain, sell, lease, convey, contract for, or otherwise deal
in, real property for the development of industrial parks or industrial
sites.
(c) A municipality may exercise powers granted by subsection (b)
in areas within five (5) miles outside its corporate boundaries.
(d) When a district is designated under section 12(e) of this chapter,
a unit may expend funds for the purposes set forth in subsections (a)
and (b) for the development of or to enhance the value of real property
used for retail purposes.
(e) When a district is designated under section 12.1 of this chapter,
a unit may expend funds for the purposes set forth in section 12.1(b) of
this chapter for the development of or to enhance the value of real
property used for retail purposes and to make it more suitable to
industrial or retail use.
[Pre-Local Government Recodification Citations: 18-7-14-2
part; 18-7-14-3.]
As added by Acts 1981, P.L.309, SEC.32. Amended by Acts
1981, P.L.310, SEC.76; P.L.262-1993, SEC.2; P.L.113-2002, SEC.4;
P.L.224-2003, SEC.234.