Indiana Code 36-7-23-19. Powers and duties
(1) Borrow money or otherwise incur indebtedness for any of its purposes, and issue revenue bonds, notes, or other evidences of indebtedness, whether secured or unsecured (other than general obligation bonds), to a person.
Terms Used In Indiana Code 36-7-23-19
- authority: refers to a multiple jurisdiction infrastructure authority established under this chapter. See Indiana Code 36-7-23-1
- Bequest: Property gifted by will.
- board: refers to the board of directors of the authority. See Indiana Code 36-7-23-2
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
(3) Procure insurance to guarantee, insure, coinsure, and reinsure against political and commercial risk of loss and any other insurance the board considers necessary, including insurance to secure the payment of principal and interest on notes or other obligations of the authority.
(4) Accept gifts, grants, or loans from, and enter into contracts or other transactions with, a federal or state agency, municipality, private organization, or other source.
(5) Adopt, amend, or rescind bylaws, rules, and regulations necessary or convenient for the performance of the authority’s powers and duties under this chapter.
(6) Sue and be sued.
(7) Purchase, receive, take by grant, gift, devise, bequest, or otherwise, lease or otherwise acquire, own, hold, improve, employ, use, and otherwise deal in and with, real and personal property, or an interest in real or personal property, wherever situated.
(8) Sell, convey, lease, exchange, transfer, or otherwise dispose of all its property or an interest in its property, wherever situated.
(9) Adopt a seal.
(10) Cooperate with other public and private organizations to carry out the purposes of the authority.
(11) Exercise all other powers and functions necessary or appropriate to carry out the duties and purposes set forth in this chapter.
As added by P.L.346-1989(ss), SEC.7.