Indiana Code 36-7-38-8. Powers
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Sec. 8. Except as otherwise provided in this chapter, a land bank is granted all powers necessary, convenient, or appropriate to carry out and effectuate the land bank’s public and corporate purposes, which include the power to do the following:
(2) Enter into contracts.
(1) Sue or be sued in the land bank’s own name.
Terms Used In Indiana Code 36-7-38-8
- 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
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) Establish accounts with financial institutions.
(4) Acquire, lease, improve, repair, renovate, and dispose of property.
(5) Borrow money, including issue bonds.
(6) Pledge collateral.
(7) Make investments.
(8) Hire employees, including an executive director.
(9) Procure insurance.
As added by P.L.211-2016, SEC.1.