§ 36-7-30-29 — Joint projects

Notwithstanding any other law, two (2) or
more units may jointly undertake military base reuse projects in
contiguous areas in the units' respective jurisdictions that benefit or
serve the units' jurisdictions by following the procedures set forth in IC 36-1-7. The legislative body of a unit may do the following:
(1) Assign an area within the unit's jurisdiction to the reuse
authority of another unit to allow the creation of an allocation area
for the purpose of the allocation of property tax proceeds even
though part of the allocation area will be outside the jurisdiction
of the reuse authority to which the new area is assigned.
(2) Pledge property tax proceeds that would be allocated to the
unit's allocation fund to the reuse authority of another unit for the
projects.
The reuse authority to which an area is assigned or allocated proceeds
are pledged may then take all action in the area or with respect to the
pledged proceeds that could be taken by a reuse authority in an
allocation area or with respect to the reuse authority's own revenues
until the later of the time when an ordinance rescinding this assignment
or pledge is adopted by the legislative body of the assigning or
pledging unit or the date on which outstanding bonds or lease rentals
payable from allocated property tax proceeds are finally retired. The
assigning unit shall continue to tax the taxpayers in the assigned part
of the allocation area at the assigning unit's tax rates.

Legislative History

As added by P.L.26-1995, SEC.14.