Sec. 12. The board of directors may finance, construct, and lease buildings for the joint or separate use of one (1) or more of the governmental entities within the county in which the authority has been created. The board of directors also may:

(1) sue and be sued;

Terms Used In Indiana Code 36-10-11-12

  • Authority: refers to a building authority created under this chapter. See Indiana Code 36-10-11-2
  • Bequest: Property gifted by will.
  • Devise: To gift property by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
  • Personal property: All property that is not real property.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(2) appropriate, purchase, lease, rent, and hold any land, materials, and personal property in connection with buildings constructed or to be constructed under this chapter;

(3) acquire by gift, devise, or bequest real and personal property and hold, use, expend, or dispose of that property for the purposes authorized by this chapter;

(4) enter upon any lots or lands for the purpose of surveying or examining them for the purposes of this chapter;

(5) collect rentals payable as provided for in a lease; and

(6) make and enter into all contracts and agreements necessary or incidental for the performance of its duties and the execution of its powers under this chapter.

As added by Acts 1982, P.L.218, SEC.5.

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