§ 36-9-4-28 — Purchase of property from system by corporation

(a) The board of directors of the public
transportation corporation and the management of the urban mass
transportation system shall negotiate for the purchase of all the real and
personal property, licenses, rights, and interests of the system by the
corporation, unless the system shows that part of its property is not
necessary for the proper operation of the system.
(b) If the parties agree upon the terms and conditions of the
purchase, the board shall adopt an ordinance incorporating those terms
and conditions.
(c) If the parties cannot agree upon the terms and conditions of the
purchase, the board may adopt an ordinance directing the acquisition
of the property that has been the subject of the negotiations through
eminent domain proceedings under section 32 of this chapter.
[Pre-Local Government Recodification Citation:
19-5-2-20.]
As added by Acts 1981, P.L.309, SEC.77.