Indiana Code 36-9-11.1-9. Options or contracts for land; previously acquired property
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Sec. 9. (a) The board may obtain at any time from the owner or owners of the land required for the project or projects an option for its purchase, or may enter into a contract for its purchase upon such terms and conditions as the board considers best. However, the options or contracts are subject to the final action of the board on the declaratory resolution, and subject to the condition that the property shall be paid for only out of funds made available to the board for that purpose.
(b) Subject to approval of the executive of the consolidated city, the board may use and improve for parking facilities any property previously acquired by the city and not needed for other purposes.
As added by Acts 1982, P.L.77, SEC.13.
Terms Used In Indiana Code 36-9-11.1-9
- Board: refers to the board of transportation of the consolidated city, subject to IC 36-3-4-23. See Indiana Code 36-9-11.1-3
- Contract: A legal written agreement that becomes binding when signed.
- Property: includes personal and real property. See Indiana Code 1-1-4-5