Indiana Code 36-7-23-5. Purpose; activities
(1) Utilizing private and public sector resources to address development problems and opportunities.
Terms Used In Indiana Code 36-7-23-5
- authority: refers to a multiple jurisdiction infrastructure authority established under this chapter. See Indiana Code 36-7-23-1
- board: refers to the board of directors of the authority. See Indiana Code 36-7-23-2
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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) Supplementing, but not supplanting, traditional local or state responsibilities.
(4) Providing financial resources to local communities to address their infrastructure needs.
(5) Providing revenue bonding capacity and resources for bond retirement, or lease rental capacity and resources, that can be directed to development or recapitalization of infrastructure located in the authority’s jurisdiction.
(6) Providing the means to develop revenue producing infrastructure ventures, where revenue can be rechanneled back into the overall infrastructure development effort.
(7) Providing an overall balanced infrastructure investment strategy that addresses important needs of the participating units for capital projects.
(8) Providing operating involvement appropriate to each infrastructure component.
(9) Providing for a continuing and stable source of public funding for infrastructure development for participating units.
(10) Providing the mechanism to address other regional services as determined to be appropriate by the board.
As added by P.L.346-1989(ss), SEC.7. Amended by P.L.86-1999, SEC.8.