(a) Upon creation of a research park authority:
(1) The authority and its members shall:
(A) Constitute a public corporation; and
(B) Have perpetual succession; and
(2) The authority and its members may:
(A) Contract and be contracted with;
(B) Sue and be sued; and
(C) Have and use a common seal.
(b) The exercise of the powers and performance of the duties under this chapter by each authority are declared to be public and governmental functions that are exercised for a public purpose and for matters of public necessity and that confer upon each authority governmental immunity from suit in tort.
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