Sec. 28. (a) The board of directors of the public transportation
corporation and the management of the urban mass transportation system shall negotiate for the purchase of all the real and
personal property, licenses, rights, and interests of the system by the corporation, unless the system shows that part of its
property is not necessary for the proper operation of the system.
Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.
Terms Used In Indiana Code 36-9-4-28
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(c) If the parties cannot agree upon the terms and conditions of the purchase, the board may adopt an ordinance directing the acquisition of the property that has been the subject of the negotiations through eminent domain proceedings under section 32 of this chapter.
[Pre-Local Government Recodification Citation: 19-5-2-20.]
As added by Acts 1981, P.L.309, SEC.77.
