Sec. 512. METRO. This section applies only to capital improvement projects consisting of real or personal property (or improvements) that have a useful life of more than one (1) year and a value of more than one hundred thousand dollars ($100,000). At least thirty (30) days before a governmental entity within the county:

(1) undertakes or acquires any such capital improvement project;

(2) starts the required proceedings to spend money or let contracts for such a project; or

(3) authorizes the issuance of bonds for the purpose of financing such a project;

the governmental entity must notify the metropolitan development commission in writing of the location, cost, and nature of the project. The commission may by rule limit the kinds of capital improvement projects that are subject to the notification requirement of this section. The commission may designate an agency responsible for fiscal analyses or control to receive notifications required by this section.

[Pre-Local Government Recodification Citations: 18-7-2-36; 18-7-3-13 part; 18-7-4-512; 18-7-4-44; 18-7-5-46.]

As added by Acts 1981, P.L.309, SEC.23. Amended by Acts 1981, P.L.310, SEC.32; P.L.335-1985, SEC.14.