Indiana § 5-28-5-2 - Grant of necessary and appropriate powers; property purchase and sale; notice and reporting requirements

§ 5-28-5-2. Grant of necessary and appropriate powers; property purchase and sale; notice and reporting requirements

Sec. 2. (a) Subject to subsection (b), the corporation is granted all powers necessary or appropriate to carry out the corporation's public and corporate purposes under this chapter.

(b) Before the corporation may purchase land in a county that in total exceeds one hundred (100) acres whether acquired in one (1) transaction or a series of transactions, the corporation must first give notice, in writing, to the board of county commissioners of the county in which the land is located not later than thirty (30) days before the closing date for the purchase or purchases. If the land is located within a city, the corporation must also give notice in writing to the mayor of the city in which the land is located not later than thirty (30) days before the closing date.

(c) At the same time the corporation provides the notice described in subsection (b) to the county or municipality, or both, in which the land is located, the corporation shall also provide a copy of the notice described in subsection (b) to the budget committee.

(d) Not later than thirty (30) days after the closing date for any purchase or sale of land, regardless of the amount of acreage, the corporation shall submit to the budget committee a report concerning the purchase or sale that must at least include:

(1) the location and address of the land;

(2) a general description of the land, including any improvements located on the land;

(3) the total price of the purchase or sale, including the price of the land and of any improvements located on the land; and

(4) the price paid or received per acre, as applicable.

As added by P.L.4-2005, SEC.34. Amended by P.L.145-2025, SEC.3; P.L.162-2026, SEC.1.