Indiana Code 36-1-7-15. Agreements between economic development entities
(1) A department of redevelopment organized under IC 36-7-14.
Terms Used In Indiana Code 36-1-7-15
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(3) A port authority organized under IC 8-10-5.
(4) An airport authority organized under IC 8-22-3.
(5) The Indiana finance authority.
(6) A regional development authority established under IC 36-7.5 or IC 36-7.6.
(7) A regional planning commission established under IC 36-7-7 or IC 36-7-7.6.
(b) Notwithstanding section 2 of this chapter, two (2) or more economic development entities may enter into a written agreement under section 3 of this chapter if the agreement is approved by each entity’s governing body.
(c) A party to an agreement under this section may do one (1) or more of the following:
(1) Except as provided in subsection (d), grant one (1) or more of its powers to another party to the agreement.
(2) Exercise any power granted to it by a party to the agreement.
(3) Pledge any of its revenues, including taxes or allocated taxes under IC 36-7-14, IC 36-7-15.1, or IC 8-22-3.5, to the bonds or lease rental obligations of another party to the agreement under IC 5-1-14-4.
(d) An economic development entity may not grant to another entity the power to tax or to establish an allocation area under IC 8-22-3.5, IC 36-7-14-39, or IC 36-7-15.1.
(e) An agreement under this section does not have to comply with section 3(a)(5) or 4 of this chapter.
(f) An action to challenge the validity of an agreement under this section must be brought within thirty (30) days after the agreement has been approved by all the parties to the agreement. After that period has passed, the agreement is not contestable for any cause.
As added by P.L.108-1993, SEC.12. Amended by P.L.115-1995, SEC.14; P.L.85-1996, SEC.10; P.L.170-2002, SEC.137; P.L.203-2005, SEC.7; P.L.221-2007, SEC.26; P.L.26-2020, SEC.3.