Sec. 8. (a) In addition to its powers under IC 36-10-9.1-11, the authority may also:

(1) finance, improve, construct, reconstruct, renovate, purchase, lease, acquire, and equip local public improvements;

(2) lease those local public improvements to the commission;

(3) sue, be sued, plead, and be impleaded, but all actions against the authority must be brought in the circuit or superior court of the county in which the authority is located;

(4) condemn, appropriate, lease, rent, purchase, and hold any real or personal property needed or considered useful in connection with local public improvements;

(5) acquire real or personal property by gift, devise, or bequest and hold, use, or dispose of that property for the purposes authorized by this chapter;

(6) enter upon any lots or lands for the purpose of surveying or examining them to determine the location of a local public improvement;

(7) design, order, contract for, and contract, reconstruct, and renovate any local public improvements or improvements thereto;

(8) employ managers, superintendents, architects, engineers, attorneys, auditors, clerks, construction managers, and other employees necessary for construction of local public improvements or improvements to them;

(9) make and enter into all contracts and agreements necessary or incidental to the performance of its duties and the execution of its powers under this chapter; and

(10) take any other action necessary to implement its purposes as set forth in section 7 of this chapter.

(b) Whenever the board determines that the purposes for which the authority was formed have been substantially fulfilled and that all bonds issued and all other obligations incurred by the authority have been fully paid or satisfied or provision for the payment of the bonds and obligations has been made in accordance with the terms of the resolution or trust indenture securing them, the board may declare the authority dissolved. On the effective date of the resolution of dissolution, the title to all funds and other property owned by the authority at the time of the dissolution vests in the commission on behalf of the unit creating the commission. However, if the commission is not in existence, the title vests in the unit.

As added by P.L.84-1987, SEC.14.