reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 1. Definitions › 36-7.6-1-12. "Project"

Sec. 12. "Project" means an airport authority project, a commuter transportation district project, an economic development project, a regional transportation authority project, an intermodal transportation project, a regional trail or greenway project, or any project that enhances a region with the goal of attracting people or business.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.6.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 1. Definitions › 36-7.6-1-12.5. "Qualified City"

Sec. 12.5. "Qualified city" means:
(1) a second class city; or
(2) a city or town that is eligible to become a second class city.
As added by P.L.178-2015, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 1. Definitions › 36-7.6-1-14. "Regional Transportation Authority Project"

Sec. 14. "Regional transportation authority project" means a project that can be financed with the proceeds of bonds issued by a regional transportation authority under IC 36-9-3.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-1. Establishment of Development Authorities

Sec. 1. The provisions of section 3 of this chapter govern the establishment of a development authority.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.8.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-2. Body Corporate and Politic; Development Authority Activities

Sec. 2. A development authority established under this chapter is a separate body corporate and politic that shall carry out the purposes of this article by:
(1) acquiring, constructing, equipping, owning, leasing, and financing projects and facilities for lease to or for the benefit of eligible political subdivisions under this article; and
(2) funding and developing:
(A) airport authority projects;
(B) commuter transportation district and other rail projects and services;
(C) regional transportation authority projects and services;
(D) economic development projects;
(E) intermodal transportation projects;
(F) regional trail or greenway projects;
(G) regional transportation infrastructure projects under IC 36-9-43; and
(H) any project that enhances the region with the goal of attracting people or business;
that are of regional importance.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.9; P.L.229-2017, SEC.41.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-3. Units That May Establish a Development Authority; Requirements

Sec. 3. (a) A development authority may be established by any of the following:
(1) One (1) or more counties and one (1) or more adjacent counties.
(2) One (1) or more counties and one (1) or more qualified cities in adjacent counties.
(3) One (1) or more qualified cities and one (1) or more qualified cities in adjacent counties.
(b) A county or qualified city may participate in the establishment of a development authority under this section and become a member of the development authority only if the fiscal body of the county or qualified city adopts an ordinance authorizing the county or qualified city to participate in the establishment of the development authority.
(c) When a county establishes a development authority with another unit as provided in this chapter, each qualified city and third class city in the county also becomes a member of the development authority, without further action by the qualified city, third class city, or the development authority.
(d) Notwithstanding any other provision of this article, a county or municipality may be a member of only one (1) development authority.
(e) Notwithstanding any other provision of this article, a county or municipality that is a member of the northwest Indiana regional development authority under IC 36-7.5 may not be a member of a development authority under this article.
(f) A development authority shall notify the Indiana economic development corporation in writing promptly after the development authority is established.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.10.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-4. Joining an Existing Development Authority

Sec. 4. (a) A county that:
(1) is not a member of a development authority; and
(2) is adjacent to a county that:
(A) is a member of a development authority; or
(B) contains a member of a development authority;
may join that development authority under this article.
(b) A qualified city or a third class city that:
(1) is not a member of a development authority; and
(2) is located in a county that:
(A) is adjacent to a county that is a member of a development authority; or
(B) is adjacent to a county containing a member of a development authority;
may join that development authority under this article.
(c) A town that:
(1) is not a member of a development authority; and
(2) is located in a county that:
(A) is a member of a development authority;
(B) is adjacent to a county that is a member of a development authority; or
(C) is adjacent to a county containing a member of a development authority;
may join that development authority under this article.
(d) A county or qualified city described in subsection (a), (b), or (c) may join a development authority under this article only if:
(1) the fiscal body of the county, qualified city, third class city, or town adopts an ordinance authorizing the county, qualified city, third class city, or town to become a member of the development authority; and
(2) the development board of the development authority adopts a resolution authorizing the county, qualified city, third class city, or town to become a member of the development authority.
(e) A county, qualified city, third class city, or town becomes a member of a development authority upon passage of a resolution under subsection (d)(2) authorizing the county, qualified city, third class city, or town to become a member of the development authority.
(f) Notwithstanding subsection (e), if a county joins a development authority under this section, each qualified city and third class city in the county also becomes a member of the development authority, without further action by the qualified city, third class city, or the development authority.
(g) A development authority shall notify the Indiana economic development corporation promptly in writing when a new member joins the development authority.
As added by P.L.232-2007, SEC.7. Amended by P.L.3-2008, SEC.265; P.L.178-2015, SEC.11.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-5. Minimum Length of Participation; Withdrawal

Sec. 5. (a) This section applies to a county, qualified city, third class city, or town authorized to establish or join a development authority under this article.
(b) A county, qualified city, third class city, or town described in subsection (a) shall be a member of the development authority for at least eight (8) years after the date the county, qualified city, third class city, or town becomes a member of the development authority.
(c) At least twelve (12) months and not more than eighteen (18) months before the end of a county's, qualified city's, third class city's, or town's membership period under subsection (b) or this subsection, the county, qualified city, third class city, or town described in subsection (a) must adopt an ordinance that:
(1) commits the county, qualified city, third class city, or town to an additional eight (8) years as a member of the development authority, beginning at the end of the current membership period; or
(2) withdraws the county, qualified city, third class city, or town from membership in the development authority not earlier than the end of the current membership period.
(d) A county, qualified city, third class city, or town described in subsection (a) may withdraw from a development authority as provided in this section without the approval of the development board. However, the withdrawal of a county does not affect the membership of a qualified city or third class city that became a member of the development authority as a result of the county's membership.
(e) If at the end of a county's membership period a county described in subsection (a) does not withdraw from the development authority under this section and remains a member of the development authority, the qualified cities and third class cities in the county may not withdraw from the development authority and remain members of the development authority.
(f) A development authority shall notify the Indiana economic development corporation promptly in writing when a member withdraws from the development authority.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.12.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-6. Liability for Unpaid Transfers After Withdrawal

Sec. 6. A county or municipality that withdraws from a development authority under section 5 of this chapter is liable to the development authority for any unpaid transfers under:
(1) IC 36-7.6-4-2; or
(2) an agreement between the members of the development authority and the development board;
that become due before the withdrawal of the county or municipality from the development authority is effective.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.13.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-7. Development Board; Members

Sec. 7. (a) A development authority is governed by a development board appointed under this section.
(b) A development board is composed of five (5) members appointed by written agreement of the executives of the members of the development authority.
(c) A member appointed to the development board:
(1) may not be an elected official or an employee of a member county or municipality; and
(2) must have knowledge of and at least five (5) years professional work experience in at least one (1) of the following:
(A) Transportation.
(B) Regional economic development.
(C) Business or finance.
(D) Private, nonprofit sector, or academia.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.14.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-9. Terms; Reappointment; Oath; per Diem

Sec. 9. (a) A member appointed to a development board serves a four (4) year term. A member may be reappointed to subsequent terms.
(b) A member of a development board may only be removed from the development board before the expiration of the four (4) year term by written agreement of at least three-fourths (3/4) of the executives of the members of the development authority.
(c) If a vacancy occurs on a development board, the executives of the members of the development authority at the time of the vacancy shall fill the vacancy by appointing a new member for the remainder of the vacated term and as otherwise provided in subsection (a).
(d) Each member appointed to a development board, before entering upon the duties of office, must take and subscribe an oath of office under IC 5-4-1, which shall be endorsed upon the certificate of appointment and filed with the records of the development board.
(e) A member appointed to a development board is not entitled to receive any compensation for performance of the member's duties. However, a member is entitled to a per diem from the development authority for the member's participation in development board meetings. The amount of the per diem is equal to the amount of the per diem provided under IC 4-10-11-2.1(b).
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.16.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-10. Officers

Sec. 10. (a) In January of each year, a development board shall hold an organizational meeting at which the development board shall elect the following officers from the members of the development board:
(1) A chair.
(2) A vice chair.
(3) A secretary-treasurer.
(b) The affirmative vote of at least a majority of the appointed members of a development board is necessary to elect an officer under subsection (a).
(c) An officer elected under subsection (a) serves from the date of the officer's election until the officer's successor is elected and qualified.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-11. Quarterly Meetings; Calling Meetings; Quorum; Authorization of Action

Sec. 11. (a) A development authority is a public agency for purposes of IC 5-14-1.5 and IC 5-14-3. A development board is a governing body for purposes of IC 5-14-1.5.
(b) A development board shall meet at least quarterly.
(c) The chair of a development board or any two (2) members of a development board may call a special meeting of the development board.
(d) A majority of the appointed members of a development board constitutes a quorum.
(e) The affirmative votes of at least a majority of the appointed members of a development board are necessary to authorize any action of the development authority.
As added by P.L.232-2007, SEC.7. Amended by P.L.144-2020, SEC.4.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-12. Bylaws and Rules

Sec. 12. A development board shall adopt the bylaws and rules that the development board considers necessary for the proper conduct of the development board's duties and the safeguarding of the development authority's funds and property.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.17.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-13. Public Purchasing and Public Works Project Laws Apply

Sec. 13. (a) A development authority shall comply with IC 5-22 (public purchasing), IC 36-1-12 (public work projects), and any applicable federal bidding statutes and regulations. An eligible political subdivision that receives a loan, a grant, or other financial assistance from a development authority or enters into a lease with a development authority must comply with applicable federal, state, and local public purchasing and bidding laws and regulations. However, a purchasing agency (as defined in IC 5-22-2-25) of an eligible political subdivision may:
(1) assign or sell a lease for property to a development authority; or
(2) enter into a lease for property with a development authority;
at any price and under any other terms and conditions as may be determined by the eligible political subdivision and the development authority. However, before making an assignment or a sale of a lease or entering into a lease under this section that would otherwise be subject to IC 5-22, the eligible political subdivision or its purchasing agent must obtain or cause to be obtained a purchase price for the property to be subject to the lease from the lowest responsible and responsive bidder in accordance with the requirements for the purchase of supplies under IC 5-22.
(b) In addition to the provisions of subsection (a), with respect to projects undertaken by a development authority, the development authority shall set a goal for participation by minority business enterprises and women's business enterprises. The goals must be consistent with:
(1) the participation goals established by the counties and municipalities that are members of the development authority; and
(2) the goals of delivering the project on time and within the budgeted amount and, insofar as possible, using Indiana businesses for employees, goods, and services.
As added by P.L.232-2007, SEC.7. Amended by P.L.252-2015, SEC.50.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-14. Annual Financial Audit

Sec. 14. (a) The state board of accounts shall, pursuant to IC 5-11-1-7 and IC 5-11-1-24, allow each development authority to contract with a certified public accountant for an annual financial audit of the development authority. The certified public accountant may not have a significant financial interest in a project, facility, or service funded by or leased by or to any development authority. The certified public accountant selected by a development authority must be approved by the state examiner and is subject to the direction of the state examiner while performing an annual financial audit under this article.
(b) The certified public accountant shall present an audit report not later than four (4) months after the end of each calendar year and shall make recommendations to improve the efficiency of development authority operations. The certified public accountant shall also perform a study and evaluation of internal accounting controls and shall express an opinion on the controls that were in effect during the audit period.
(c) A development authority shall pay the cost of the annual financial audit under subsection (a). In addition, the state board of accounts may at any time conduct an audit of any phase of the operations of a development authority. A development authority shall pay the cost of any audit by the state board of accounts.
(d) The state board of accounts may waive the requirement that a certified public accountant perform an annual financial audit of a development authority for a particular year if the development authority certifies to the state board of accounts that the development authority had no financial activity during that year.
As added by P.L.232-2007, SEC.7. Amended by P.L.237-2017, SEC.47; P.L.257-2019, SEC.146.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 2. Development Authority and Board › 36-7.6-2-15. Local Advisory Committees

Sec. 15. Each county or municipality that is member of a development authority may appoint a local advisory committee to advise the county or municipality on issues related to the development authority.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 3. Development Authority Powers and Duties › 36-7.6-3-1. Duties

Sec. 1. A development authority shall do the following:
(1) Assist in the coordination of local efforts concerning projects that are of regional importance.
(2) Assist a county, a municipality, a commuter transportation district, an airport authority, and a regional transportation authority in coordinating regional transportation and economic development efforts.
(3) Fund projects that are of regional importance, as provided in this article.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 3. Development Authority Powers and Duties › 36-7.6-3-3. Agreements for Joint Actions

Sec. 3. A development authority may enter into an agreement with another development authority or any other entity to:
(1) jointly equip, own, lease, and finance projects and facilities; or
(2) otherwise carry out the purposes of the development authority;
in any location.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 3. Development Authority Powers and Duties › 36-7.6-3-4. Reports

Sec. 4. A development authority shall before April 1 of each year issue a report to the legislative council, the budget committee, the Indiana economic development corporation, and the executive of each member of the development authority concerning the operations and activities of the development authority during the preceding calendar year. The report to the legislative council must be in an electronic format under IC 5-14-6.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.18.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 3. Development Authority Powers and Duties › 36-7.6-3-5. Development Plan

Sec. 5. (a) A development authority shall prepare a comprehensive strategic development plan that includes detailed information concerning the following:
(1) The proposed projects to be undertaken or financed by the development authority.
(2) The following information for each project included under subdivision (1):
(A) Timeline and budget.
(B) The return on investment.
(C) The projected or expected need for an ongoing subsidy.
(D) Any projected or expected federal matching funds.
(b) The development authority shall, not later than January 1 of the second year following the year in which the development authority is established, submit the comprehensive strategic development plan for review by the budget committee and approval by the director of the office of management and budget and the Indiana economic development corporation. However, a development authority that has already submitted its comprehensive strategic development plan as part of an application for a grant or a loan under IC 5-28-37 (before its repeal) or IC 5-28-38 (before its repeal) is not required to resubmit its comprehensive strategic development plan under this subsection.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.19; P.L.237-2017, SEC.48; P.L.165-2021, SEC.214.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-3. Bond Issues

Sec. 3. (a) A development authority may issue bonds for the purpose of obtaining money to pay the cost of:
(1) acquiring real or personal property, including existing capital improvements;
(2) acquiring, constructing, improving, reconstructing, or renovating one (1) or more projects; or
(3) funding or refunding bonds issued under this chapter, IC 8-5-15, IC 8-22-3, IC 36-9-3, or prior law.
(b) The bonds are payable solely from:
(1) the lease rentals from the lease of the projects for which the bonds were issued, insurance proceeds, and any other funds pledged or available; and
(2) except as otherwise provided by law, revenue received by the development authority and amounts deposited in the development authority fund.
(c) The bonds must be authorized by a resolution of the development board of the development authority that issues the bonds.
(d) The terms and form of the bonds must either be set out in the resolution or in a form of trust indenture approved by the resolution.
(e) The bonds must mature within forty (40) years.
(f) A development board shall sell the bonds only to the Indiana bond bank established by IC 5-1.5-2-1 upon the terms determined by the development board and the Indiana bond bank.
(g) All money received from any bonds issued under this chapter shall be applied solely to the payment of the cost of acquiring, constructing, improving, reconstructing, or renovating one (1) or more projects, or the cost of refunding or refinancing outstanding bonds, for which the bonds are issued. The cost may include:
(1) planning and development of equipment or a facility and all buildings, facilities, structures, equipment, and improvements related to the facility;
(2) acquisition of a site and clearing and preparing the site for construction;
(3) equipment, facilities, structures, and improvements that are necessary or desirable to make the project suitable for use and operations;
(4) architectural, engineering, consultant, and attorney's fees;
(5) incidental expenses in connection with the issuance and sale of bonds;
(6) reserves for principal and interest;
(7) interest during construction;
(8) financial advisory fees;
(9) insurance during construction;
(10) municipal bond insurance, debt service reserve insurance, letters of credit, or other credit enhancement; and
(11) in the case of refunding or refinancing, payment of the principal of, redemption premiums (if any) for, and interest on the bonds being refunded or refinanced.
(h) A development authority may not issue bonds under this article or otherwise finance debt unless:
(1) the development authority enters into an interlocal agreement with each member that is committing funds to a project to be supported by the bonds; and
(2) the fiscal body of each member that is committing funds to the project to be supported by the bonds approves the agreement described in subdivision (1) by ordinance.
As added by P.L.232-2007, SEC.7. Amended by P.L.178-2015, SEC.22; P.L.252-2015, SEC.51; P.L.178-2015, SEC.23.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-4. Bonding; Complete Authority

Sec. 4. This chapter contains full and complete authority for the issuance of bonds. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by a development board or any other officer, department, agency, or instrumentality of the state or of any political subdivision is required to issue any bonds, except as prescribed in this article.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-5. Bonding; Security; Trust Indenture

Sec. 5. (a) A development authority may secure bonds issued under this chapter by a trust indenture between the development authority and a corporate trustee, which may be any trust company or national or state bank in Indiana that has trust powers.
(b) The trust indenture may:
(1) pledge or assign revenue received by the development authority, amounts deposited in the development authority fund, and lease rentals, receipts, and income from leased projects, but may not mortgage land or projects;
(2) contain reasonable and proper provisions for protecting and enforcing the rights and remedies of the bondholders, including covenants setting forth the duties of the development authority and development board;
(3) set forth the rights and remedies of bondholders and trustees; and
(4) restrict the individual right of action of bondholders.
(c) Any pledge or assignment made by the development authority under this section is valid and binding in accordance with IC 5-1-14-4 from the time that the pledge or assignment is made, against all persons whether they have notice of the lien or not. Any trust indenture by which a pledge is created or an assignment made need not be filed or recorded. The lien is perfected against third parties in accordance with IC 5-1-14-4.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-6. Bond Refunding; Leases

Sec. 6. (a) Bonds issued under IC 8-5-15, IC 8-22-3, IC 36-9-3, or prior law may be refunded as provided in this section.
(b) An eligible political subdivision may:
(1) lease all or a part of land or a project or projects to a development authority, which may be at a nominal lease rental with a lease back to the eligible political subdivision, conditioned upon the development authority assuming bonds issued under IC 8-5-15, IC 8-22-3, IC 36-9-3, or prior law and issuing its bonds to refund those bonds; and
(2) sell all or a part of land or a project or projects to a development authority for a price sufficient to provide for the refunding of those bonds and lease back the land or project or projects from the development authority.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-7. Leases; Findings

Sec. 7. (a) Before a lease may be entered into by an eligible political subdivision under this chapter, the eligible political subdivision must find that the lease rental provided for is fair and reasonable.
(b) A lease of land or a project from a development authority to an eligible political subdivision:
(1) may not have a term exceeding forty (40) years;
(2) may not require payment of lease rentals for a newly constructed project or for improvements to an existing project until the project or improvements to the project have been completed and are ready for occupancy or use;
(3) may contain provisions:
(A) allowing the eligible political subdivision to continue to operate an existing project until completion of the acquisition, improvements, reconstruction, or renovation of that project or any other project; and
(B) requiring payment of lease rentals for land, for an existing project being used, reconstructed, or renovated, or for any other existing project;
(4) may contain an option to renew the lease for the same or a shorter term on the conditions provided in the lease;
(5) must contain an option for the eligible political subdivision to purchase the project upon the terms stated in the lease during the term of the lease for a price equal to the amount required to pay all indebtedness incurred on account of the project, including indebtedness incurred for the refunding of that indebtedness;
(6) may be entered into before acquisition or construction of a project;
(7) may provide that the eligible political subdivision shall agree to:
(A) pay any taxes and assessments on the project;
(B) maintain insurance on the project for the benefit of the development authority;
(C) assume responsibility for utilities, repairs, alterations, and any costs of operation; and
(D) pay a deposit or series of deposits to the development authority from any funds available to the eligible political subdivision before the commencement of the lease to secure the performance of the eligible political subdivision's obligations under the lease; and
(8) must provide that the lease rental payments by the eligible political subdivision shall be made from the development authority fund established under section 1 of this chapter and may provide that the lease rental payments by the eligible political subdivision shall be made from:
(A) net revenues of the project;
(B) any other funds available to the eligible political subdivision; or
(C) both sources described in clauses (A) and (B).
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-8. Leases; Complete Authority

Sec. 8. This chapter contains full and complete authority for leases between a development authority and an eligible political subdivision. No law, procedure, proceedings, publications, notices, consents, approvals, orders, or acts by a development authority or the eligible political subdivision or any other officer, department, agency, or instrumentality of the state or any political subdivision is required to enter into any lease, except as prescribed in this article.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-9. Plan Approval

Sec. 9. If the lease provides for a project or improvements to a project to be constructed by a development authority, the plans and specifications shall be submitted to and approved by all agencies designated by law to pass on plans and specifications for public buildings.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-10. Agreements; Common Wall; Easements; Licenses

Sec. 10. A development authority and an eligible political subdivision may enter into common wall (party wall) agreements or other agreements concerning easements or licenses. These agreements shall be recorded with the recorder of the county in which the project is located.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-11. Leases or Sale of Projects or Land to Development Authorities

Sec. 11. (a) An eligible political subdivision may lease for a nominal lease rental, or sell to a development authority, one (1) or more projects or parts of a project or land on which a project is located or is to be constructed.
(b) Any lease of all or a part of a project by an eligible political subdivision to a development authority must be for a term equal to the term of the lease of that project back to the eligible political subdivision.
(c) An eligible political subdivision may sell property to a development authority for the amount the eligible political subdivision determines to be in the best interest of the eligible political subdivision. The development authority may pay that amount from the proceeds of bonds of the development authority.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-12. Option to Purchase Property

Sec. 12. If an eligible political subdivision exercises its option to purchase leased property, the eligible political subdivision may issue its bonds as authorized by statute.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-13. Tax Exemption

Sec. 13. (a) All:
(1) property owned by a development authority;
(2) revenue of a development authority; and
(3) bonds issued by a development authority, the interest on the bonds, the proceeds received by a holder from the sale of bonds to the extent of the holder's cost of acquisition, proceeds received upon redemption before maturity, proceeds received at maturity, and the receipt of interest in proceeds;
are exempt from taxation in Indiana for all purposes except the financial institutions tax imposed under IC 6-5.5.
(b) All securities issued under this chapter are exempt from the registration requirements of IC 23-19 and other securities registration statutes.
As added by P.L.232-2007, SEC.7. Amended by P.L.1-2009, SEC.169; P.L.79-2017, SEC.85.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-14. Bonds; Legal Investments

Sec. 14. Bonds issued under this chapter are legal investments for private trust funds and the funds of banks, trust companies, insurance companies, building and loan associates, credit unions, savings banks, private banks, loan and trust and safe deposit companies, rural loan and savings associations, guaranty loan and savings associations, mortgage guaranty companies, small loan companies, industrial loan and investment companies, and other financial institutions organized under Indiana law.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-15. Bonds; Contesting Validity

Sec. 15. An action to contest the validity of bonds to be issued under this chapter may not be brought after the time limitations set forth in IC 5-1-14-13.
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-16. Transfers; Failure to Make Transfer; Duty of State Treasurer

Sec. 16. (a) This section applies if the county or municipality fails to make a transfer or part of a transfer required by:
(1) section 2 of this chapter; or
(2) an interlocal agreement executed under section 3(h) of this chapter that is required to satisfy the county's or municipality's obligation to contribute to the satisfaction of outstanding bonds or other debt of the development authority.
(b) The treasurer of state shall do the following:
(1) Withhold an amount equal to the amount of the transfer or part of the transfer under section 2 of this chapter that the county or municipality failed to make from money in the possession of the state that would otherwise be available for distribution to the county or municipality under any other law.
(2) Pay the amount withheld under subdivision (1) to the development authority to satisfy the county's or municipality's obligations to the development authority.
As added by P.L.232-2007, SEC.7. Amended by P.L.146-2008, SEC.775; P.L.178-2015, SEC.24.
2023 Indiana Code › Title 36. Local Government › Article 7.6. Regional Development Authorities › Chapter 4. Financing; Issuance of Bonds; Leases › 36-7.6-4-17. Covenants

Sec. 17. (a) If there are bonds outstanding that have been issued under this article by a development authority and are not secured by a lease, or if there are leases in effect under this article, the general assembly covenants that it will not reduce the amount required to be transferred under section 2 of this chapter from a county or municipality that is a member of a development authority to the development authority below an amount that would produce one and twenty-five hundredths (1.25) multiplied by the total of the highest annual debt service on the bonds to their final maturity plus the highest annual lease payments on the leases to their final termination date.
(b) The general assembly also covenants that it will not:
(1) repeal or amend this article in a manner that would adversely affect owners of outstanding bonds, or the payment of lease rentals, secured by the amounts pledged under this chapter; or
(2) in any way impair the rights of owners of bonds of a development authority, or the owners of bonds secured by lease rentals, secured by a pledge of revenues under this chapter;
except as otherwise set forth in subsection (a).
As added by P.L.232-2007, SEC.7.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 1. Applicability › 36-7.7-1-1. Application of Article

Sec. 1. This article applies only to eligible political subdivisions described in IC 36-7.7-2-7 that are located in the Indianapolis-Carmel-Anderson Metropolitan Statistical Area as defined by the United States Census Bureau.
As added by P.L.83-2020, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 2. Definitions › 36-7.7-2-4. "Comprehensive Development Plan"

Sec. 4. "Comprehensive development plan" refers to a comprehensive strategic economic development plan prepared under IC 36-7.7-3-4.
As added by P.L.83-2020, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 2. Definitions › 36-7.7-2-7. "Eligible Political Subdivision"

Sec. 7. "Eligible political subdivision" means any of the following:
(1) A county.
(2) A municipality.
(3) An airport authority.
(4) A commuter transportation district.
(5) A regional transportation authority.
(6) A public transportation corporation under IC 36-9-4.
As added by P.L.83-2020, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 3. Development Authority and Board › 36-7.7-3-2. Purposes

Sec. 2. A development authority established under this chapter is a separate body corporate and politic that shall carry out the purposes of this article by:
(1) acquiring, constructing, equipping, owning, and financing projects and facilities to or for the benefit of eligible political subdivisions under this article; and
(2) funding and developing:
(A) airport authority projects;
(B) commuter transportation district and other rail projects and services;
(C) regional transportation authority projects and services;
(D) economic development projects;
(E) intermodal transportation projects;
(F) regional trail or greenway projects;
(G) regional transportation infrastructure projects under IC 36-9-43; and
(H) any other capital infrastructure project that enhances the region with the goal of attracting people or business;
that are of regional importance.
As added by P.L.83-2020, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 3. Development Authority and Board › 36-7.7-3-3. Preliminary Strategic Economic Development Plan

Sec. 3. Units that wish to establish a development authority under this chapter must prepare and adopt a preliminary strategic economic development plan that includes provisions and general information concerning the following:
(1) The participating members of the development authority.
(2) The membership of the strategy committee under section 5 of this chapter.
(3) A timeline for submitting the comprehensive development plan under section 4 of this chapter.
(4) A strategy for attracting (or any projected) investments, grants, matching funds, or local tax revenue.
As added by P.L.83-2020, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 3. Development Authority and Board › 36-7.7-3-5. Strategy Committee; Members; Compensation

Sec. 5. (a) A development authority established under this chapter is governed by a strategy committee.
(b) A strategy committee is composed of members according to the terms of the preliminary development plan adopted by the fiscal bodies of development authority members under section 1 of this chapter.
(c) The removal of a member and the filling of a vacancy on the strategy committee shall be made according to the terms of the development authority preliminary development plan.
(d) Each member of a strategy committee, before entering upon the duties of office, must take and subscribe an oath of office under IC 5-4-1, which shall be endorsed upon the certificate of appointment and filed with the records of the investment board.
(e) A member of a strategy committee is not entitled to receive any compensation for performance of the member's duties.
As added by P.L.83-2020, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 3. Development Authority and Board › 36-7.7-3-6. Chair; Officers

Sec. 6. (a) In January of each year, a strategy committee shall hold an organizational meeting at which the strategy committee shall elect the following officers from the members of the strategy committee:
(1) A chair.
(2) A vice chair.
(3) A secretary-treasurer.
(b) The affirmative vote of at least a majority of the members of the strategy committee is necessary to elect an officer under subsection (a).
(c) An officer elected under subsection (a) serves from the date of the officer's election until the officer's successor is elected and qualified.
As added by P.L.83-2020, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 3. Development Authority and Board › 36-7.7-3-7. Meetings; Quorum; Affirmative Votes

Sec. 7. (a) A strategy committee shall meet at least quarterly.
(b) The chair of a strategy committee or any two (2) members of a strategy committee may call a special meeting of the strategy committee.
(c) A majority of the appointed members of a strategy committee constitutes a quorum.
(d) The affirmative votes of at least a majority of the appointed members of a strategy committee are necessary to authorize any action of the strategy committee.
As added by P.L.83-2020, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 3. Development Authority and Board › 36-7.7-3-8. Bylaws and Rules

Sec. 8. A strategy committee shall adopt the bylaws and rules that the strategy committee considers necessary for the proper conduct of the strategy committee's duties and the safeguarding of the development authority's funds and property.
As added by P.L.83-2020, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 3. Development Authority and Board › 36-7.7-3-9. Membership

Sec. 9. (a) Only one (1) development authority may be established under this article. However, a county or municipality described in subsection (b) may join a development authority established under section 1 of this chapter if the fiscal body of the county or municipality:
(1) adopts an ordinance authorizing the county or municipality to become a member of the development authority; and
(2) adopts a substantially similar resolution to adopt the preliminary development plan of the development authority as set forth under section 1 of this chapter.
A development authority shall notify the Indiana economic development corporation promptly in writing when a new member joins the development authority.
(b) The following counties or municipalities may join a development authority established under section 1 of this chapter:
(1) In the case of a county, a county that is adjacent to a county that:
(A) is a member of the development authority; or
(B) contains a member of the development authority.
(2) In the case of a municipality, a municipality that is located in a county that:
(A) is a member of the development authority;
(B) is adjacent to a county that is a member of the development authority; or
(C) is adjacent to a county containing a member of the development authority.
As added by P.L.83-2020, SEC.2.
2023 Indiana Code › Title 36. Local Government › Article 7.7. Central Indiana Regional Development Authority › Chapter 3. Development Authority and Board › 36-7.7-3-10. Membership Term

Sec. 10. A county or municipality that establishes or joins a development authority under this chapter shall be a member of the development authority for not less than five (5) years or until the expiration of this article.
As added by P.L.83-2020, SEC.2.