§ 36-7-14.5-12 — Powers and duties of authority; dissolution of authority

Indiana § 36-7-14.5-12

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 14.5: Redevelopment Authority

Text

(a) In order to accomplish the purposes set
forth in section 11(a) of this chapter, the authority may do the
following:
(1) Finance, improve, construct, reconstruct, renovate, purchase,
lease, acquire, or equip local public improvements.
(2) Lease those local public improvements to the commission.
(3) Sue, be sued, plead, or be impleaded, but all actions against
the authority must be brought in the circuit or superior court of
the county in which the authority is located.
(4) Condemn, appropriate, lease, rent, purchase, or hold any real
or personal property needed or considered useful in connection
with local public improvements.
(5) Acquire real or personal property by gift, devise, or bequest
and hold, use, or dispose of that property for the purposes
authorized by this chapter.
(6) Enter upon any lots or lands for the purpose of surveying or
examining them to determine the location of a local public
improvement.
(7) Design, order, contract for, or construct, reconstruct, or
renovate any local public improvements or improvements thereto.
(8) Employ managers, superintendents, architects, engineers,
attorneys, auditors, clerks, construction managers, or other
employees necessary for construction of local public
improvements or improvements to them.
(9) Make and enter into all contracts or agreements necessary or
incidental to the performance of its duties or the execution of its
powers under this chapter.
(10) Take any other action necessary to implement the authority's
purposes as set forth in section 11(a) of this chapter.
(b) Whenever the board determines that:
(1) the purposes for which the authority was formed have been
substantially fulfilled; and
(2) all bonds issued and all other obligations incurred by the
authority have been fully paid or satisfied or provision for the
payment of the bonds and obligations has been made in
accordance with the terms of the resolution or trust indenture
securing them;
the board may declare the authority dissolved. On the effective date of
the resolution of dissolution, the title to all funds and other property
owned by the authority at the time of the dissolution vests in the
commission on behalf of the unit creating the commission. However,
if the commission is not in existence, the title vests in the unit.

Legislative History

As added by P.L.380-1987(ss), SEC.18. Amended by P.L.26-1993, SEC.5.