§ 5-1-17.5-17 — Powers of the commission

Indiana § 5-1-17.5-17

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1: BONDS AND OTHER OBLIGATIONS
• Ch. 17.5: Motorsports Investment District

Text

The commission is authorized and
empowered to do the following:
(1) To sue and be sued, and to plead and be impleaded in the
name of the commission.
(2) To receive and accept from any federal agency grants and to
receive and accept aid or contributions from any source of money,
property, labor, or other things of value, to be held, used, and
applied only for the purposes for which such grants and
contributions may be made.
(3) To hold, use, administer, and expend such sum or sums as
may at any time be appropriated or transferred to the commission.
(4) To purchase, acquire, or hold debt securities or other
investments for the commission's own account at prices and in a
manner the commission considers advisable, and to sell or
otherwise dispose of those securities or investments at prices
without relation to cost and in a manner the commission considers
advisable.
(5) To lease real or personal property as lessor or lessee from or
to the authority or any person under this chapter.
(6) To do all acts and things necessary or proper to carry out the
powers expressly granted in this chapter.

Legislative History

As added by P.L.233-2013, SEC.5.