Indiana Code 5-1-17.5-17. Powers of the commission
(1) To sue and be sued, and to plead and be impleaded in the name of the commission.
Terms Used In Indiana Code 5-1-17.5-17
- authority: refers to the Indiana finance authority. See Indiana Code 5-1-17.5-4
- commission: refers to the Indiana motorsports commission created by this chapter. See Indiana Code 5-1-17.5-9
- 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
- person: has the meaning set forth in IC 36-1-2-12. See Indiana Code 5-1-17.5-12
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) To hold, use, administer, and expend such sum or sums as may at any time be appropriated or transferred to the commission.
(4) To purchase, acquire, or hold debt securities or other investments for the commission’s own account at prices and in a manner the commission considers advisable, and to sell or otherwise dispose of those securities or investments at prices without relation to cost and in a manner the commission considers advisable.
(5) To lease real or personal property as lessor or lessee from or to the authority or any person under this chapter.
(6) To do all acts and things necessary or proper to carry out the powers expressly granted in this chapter.
As added by P.L.233-2013, SEC.5.