"Person"; powers of board
Sec. 5. (a) For purposes of this section, "person" includes a sole
proprietorship, a partnership, an association, a corporation, a limited
liability company, a fiduciary, or an individual.
(b) The board may:
(1) accept and use gifts, grants, and contributions from any
public or private source, under terms and conditions which the
board deems necessary and desirable;
(2) sue and be sued;
(3) enter into contracts and agreements;
(4) make rules and regulations necessary for the conduct of its
business and the accomplishment of its purposes;
(5) receive and approve, alter, or reject requests and proposals
for funding by organizations; and
(6) either:
(A) finance facilities; or
(B) enter into contracts with a person to assist in the
financing of facilities;
to be used by the board or a person to promote the development
and growth of the convention and tourism industry in the
county.
(c) By resolution of the board and by ordinance of the county
fiscal body, the board and the county may jointly:
(1) pledge tax revenues received under this chapter to pay:
(A) the principal of or interest on bonds;
(B) the lease rental payments on leases; or
(C) other obligations of the county;
to finance facilities described in subsection (b)(6); or
(2) require financial or other reports from:
(A) any organization that receives funds under this chapter;
or
(B) any person who receives assistance to finance facilities
under this chapter.
(d) The board may pledge tax revenues received under this
chapter to pay the interest on obligations entered into by a person
with whom the board has entered into a contract to assist in financing
facilities under subsection (b)(6).
(e) A pledge of revenues under this section is enforceable under
IC 5-1-14-4.
As added by Acts 1980, P.L.64, SEC.1. Amended by P.L.224-2003,
SEC.249.
Last modified: May 28, 2006