Introduced Version
HOUSE BILL No. 1790
_____
DIGEST OF INTRODUCED BILL
Citations Affected:
IC 8-10-1.
Synopsis: Port commission powers. Authorizes the Indiana port
commission to construct and finance: (1) maritime and nonmaritime
port projects throughout Indiana for the transfer of goods and
passengers between all modes of transportation; and (2) nonport
projects to promote economic growth and development throughout
Indiana. Specifies the powers of the commission with respect to these
projects, including the conditions under which the commission may
issue bonds and enter into various agreements.
Effective: July 1, 2003.
Hasler
January 21, 2003, read first time and referred to Committee on Interstate and International
Cooperation.
Introduced
First Regular Session 113th General Assembly (2003)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in
this style type, and deletions will appear in
this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in
this style type. Also, the
word
NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in
this style type or
this style type reconciles conflicts
between statutes enacted by the 2002 Regular or Special Session of the General Assembly.
HOUSE BILL No. 1790
A BILL FOR AN ACT to amend the Indiana Code concerning
transportation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 8-10-1-1; (03)IN1790.1.1. -->
SECTION 1.
IC 8-10-1-1
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 1. In order to promote the
agricultural, industrial and commercial development of the state, and
to provide for the general welfare by the construction and operation, in
cooperation with the federal government, or otherwise, of a modern
port
on Lake Michigan and/or the Ohio River, and/or the Wabash
River, system with terminal facilities to accommodate water, rail,
truck,
and air-borne,
and other forms of transportation, the Indiana
Port Commission is hereby authorized and empowered to construct,
maintain and operate, in cooperation with the federal government, or
otherwise, at such
location on Lake Michigan and/or the Ohio River,
and/or the Wabash River, locations as shall be approved by the
governor,
projects, including without limitation public ports with
terminal facilities and traffic exchange points
throughout Indiana for
all forms of transportation, giving particular attention to the benefits
which may accrue to the state and its citizens from
the St. Lawrence
Seaway, all forms of transportation, and to issue
port revenue bonds
of the state payable solely from revenues, to pay the cost of such
projects. The commission's powers are not limited to ports and may
be exercised throughout Indiana for projects that enhance, foster,
aid, provide, or promote economic development, public-private
partnerships, and other industrial, commercial, business, and
transportation purposes.
SOURCE: IC 8-10-1-2; (03)IN1790.1.2. -->
SECTION 2.
IC 8-10-1-2
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 2. As used in this chapter, the
following words and terms shall have the following meanings, unless
the context shall indicate another or different meaning or intent:
(a) The word "commission" shall mean the Indiana Port
Commission created by section 3 of this chapter, or, if said commission
shall be abolished, the board, body or commission succeeding to the
principal functions thereof, or to whom the powers given by this
chapter to the commission shall be given by law.
(b) The word "port" shall include
any combination of:
(1) any place or places on Lake Michigan, the Ohio River,
and the
Wabash River,
or other water bodies, natural or artificial, in
which water-borne vessels capable of carrying articles of
commerce over navigable bodies of water may be loaded,
unloaded or accommodated;
and
(2) nonmaritime port and traffic exchange points throughout
Indiana for the transfer of goods and passengers between all
modes of transportation.
(c) The
words "port word "project" shall include:
(1) any facilities, adjuncts and appurtenances necessary
or useful
to operate a modern port,
whether or not permanently situated
at the port, including:
(A) the dredging of approaches
thereto, and including, among
other things, but not limited to to a port; and
(B) breakwaters, inner harbors, outer harbors, channels,
canals, turning basins, docks, wharves, piers, quays, slips,
loading, unloading, handling and storage equipment,
warehouses, refrigerating plants and equipment, elevators for
the handling and storage of grain, coal and other bulk
commodities, terminal buildings or facilities, railroad
equipment and trackage, roadways, airplane landing fields,
parking lots, garages, automotive equipment, tugs, ferries,
maintenance and construction vessels, communication
systems, sewers, drains, works for the treatment of sewage,
garbage and wastes, and the furnishing of utility service
necessary to serve the property under the jurisdiction or
control of the commission, and other buildings and facilities
which the commission may deem necessary for the operation
of the port; and
(2) any other project, whether located at a port or elsewhere
in Indiana, that the commission finds will enhance, foster, aid,
provide, or promote economic development, public-private
partnerships, and other industrial, commercial, business, and
transportation purposes.
(d) The word "cost" as applied to a port or port project shall
embrace means:
(1) the cost of construction;
(2) the cost of acquisition of all land, rights-of-way, property,
rights, easements and interests, including lands under water and
riparian rights acquired by the commission for such construction;
(3) the cost of demolishing or removing any buildings or
structures on land so acquired, including the cost of acquiring any
lands to which such buildings or structures may be moved;
(4) the cost of relocating public roads;
(5) the cost of land or easements therefor, for roads;
(6) the cost of all machinery and equipment;
(7) financing charges;
(8) interest prior to and during construction and for not exceeding
two (2) years after the estimated date of completion of
construction;
(9) the cost of engineering and legal expenses, plans,
specifications, surveys, and estimates of cost, traffic and
revenues;
(10) other expenses necessary or incident to determining the
feasibility or practicability of constructing any such project;
(11) administrative expense; and such
(12) other expenses as may be necessary or incident to the
acquisition or construction of the project, the financing of such
the acquisition or construction, and the placing of the project in
operation, including the amount authorized in the resolution
of the port commission providing for the issuance of port
commission revenue bonds to be paid into any special funds
from the proceeds of the bonds.
(e) Any obligation, cost, or expense incurred by any
governmental agency or person for surveys, borings, the
preparation of plans and specifications, and other engineering
services, or any other cost described in this section that is incurred
in connection with the acquisition or construction of a project may
be regarded as part of the cost of the project and may be
reimbursed out of the proceeds of port commission revenue bonds
as authorized by this chapter.
(e) (f) The word "owner" shall include all individuals,
copartnerships, associations or corporations having any title or interest
in any property, rights, easements and other interests authorized to be
acquired by this chapter.
(f) (g) The word "revenues" shall mean all fees, tolls, rentals, gifts,
grants, moneys and all other funds coming into the possession or under
the control of the commission by virtue of the terms and provisions of
this chapter, but shall not include real property or personal property
other than money, nor the proceeds from the sale of bonds issued under
provisions of this chapter.
(g) (h) The word "public roads" shall include all public highways,
roads, and streets in the state, whether maintained by the state, county,
city, township or other political subdivision.
SOURCE: IC 8-10-1-3; (03)IN1790.1.3. -->
SECTION 3.
IC 8-10-1-3
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 3.
(a) There is hereby created a
commission to be known as the "Indiana port commission" and by that
name the commission may sue and be sued, and plead and be
impleaded. The commission hereby created is a body both corporate
and politic in the state of Indiana, and the exercise by the commission
of the powers conferred by this chapter in the construction, operation
and maintenance of a port
or project shall be deemed and held to be
essential governmental functions of the state, but the commission shall
not however be immune from liability by reason thereof.
(b) The commission shall consist of seven (7) members, appointed
by the governor, no more than four (4) of whom shall be members of
the same political party. The members shall be residents of the state,
and shall have been qualified electors therein for a period of at least
five (5) years next preceding their appointment. The members of the
commission first appointed shall continue in office for terms expiring,
in the case of two (2) members, on July 1, 1962, and in the case of
three (3) members, on July 1, 1963, July 1, 1964, and July 1, 1965 and
the first two (2) members appointed after January 1, 1975, shall
continue in office for terms expiring July 1, 1977 for one (1) member
and July 1, 1979 for the other member, respectively, and until their
respective successors shall be duly appointed and qualified. The term
of any member of the commission first appointed shall be designated
by the governor. The successor of each such member shall be
appointed for a term of four (4) years, except that any person appointed
to fill a vacancy shall be appointed to serve only for the unexpired
term, and a member of the commission shall be eligible for
reappointment. The governor may at any time remove any member of
the commission for misfeasance, nonfeasance, or malfeasance in office.
The members of the commission shall, within ten (10) days after their
appointment, meet and qualify by subscribing an oath to discharge
honestly and faithfully the duties of their office as members of such
commission. The commission shall thereafter elect one (1) of the
members as chairman and another as vice-chairman, and shall appoint
a secretary-treasurer who need not be a member of the commission.
Four (4) members of the commission shall constitute a quorum and the
affirmative vote of four (4) members shall be necessary for any official
action taken by the commission. No vacancy in the membership of the
commission shall impair the rights of a quorum to exercise all the
rights and perform all the duties of the commission.
(c) Before the issuance of any port revenue bonds under the
provisions of this chapter, each appointed member of the commission
shall give a surety bond to the state in the penal sum of twenty-five
thousand dollars ($25,000) and the secretary-treasurer shall give a
surety bond to the state in the penal sum of fifty thousand dollars
($50,000). Each such surety bond to must be conditioned upon the
faithful performance of the duties of the office, to be executed by a
surety company authorized to transact business in the state as surety
and to be approved by the governor and filed in the office of the
secretary of state.
(d) Each appointed member of the commission shall receive an
annual salary of seven thousand, five hundred dollars ($7,500), payable
in monthly instalments. However, no members of such commission as
appointed hereunder shall receive any salary except a per diem as fixed
and approved by the budget director until said commission is able to
carry on the full operations as intended by this chapter, and the budget
director, subject to the approval of the governor of the state of Indiana,
shall determine when said salaries for said commission members shall
commence. The governor shall, however, appoint said members as
herein provided within a period of sixty (60) days following the
effective date of this chapter.
(e) Each member shall be reimbursed for his actual expenses
necessarily incurred in the performance of his duties.
(f) All expenses incurred in carrying out the provisions of this
chapter shall be payable solely from funds provided under the authority
of this chapter and no liability or obligation shall be incurred by the
commission hereunder beyond the extent to which moneys shall have
been provided under the authority of this chapter.
SOURCE: IC 8-10-1-4; (03)IN1790.1.4. -->
SECTION 4.
IC 8-10-1-4
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 4. Port Revenue bonds issued under
the provisions of this chapter shall not be deemed to constitute a debt
of the state or of any political subdivision thereof or a pledge of the
faith and credit of the state or of any such political subdivision, but
such bonds shall be payable solely from the funds pledged for their
payment as authorized in this chapter, unless such bonds are refunded
by refunding bonds, issued under the provisions of this chapter, which
refunding bonds shall be payable solely from funds pledged for their
payment as authorized herein. All such revenue bonds shall contain on
the face thereof a statement to the effect that the bonds, as to both
principal and interest, are not an obligation of the state of Indiana, or
of any political subdivision thereof, but are payable solely from
revenues pledged for their payment. All expenses incurred in carrying
out the provisions of this chapter shall be payable solely from funds
provided under the authority of this chapter and nothing in this chapter
contained shall be construed to authorize the commission to incur
indebtedness or liability on behalf of or payable by the state or any
political subdivision thereof.
SOURCE: IC 8-10-1-5; (03)IN1790.1.5. -->
SECTION 5.
IC 8-10-1-5
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 5. (a) The Indiana port commission
may:
(1) prepare sketches, plans, and descriptive material relating to
such ports or
port projects, as in its discretion may seem feasible,
to compile data and prepare literature as to the necessity or
advisability thereof, and to do other acts and things it considers
necessary to promote
such public port or port the ports or
projects and deems to be in the public interest;
(2) carry on, in its discretion, negotiations and enter into
agreements and contracts with the federal government or agencies
of the federal government or an authority established under
IC 36-7-23
for the building and construction of public ports
including terminal facilities, to be located within Indiana, on Lake
Michigan, the Ohio River, the Wabash River, or in waters
adjacent to Indiana;
(3) locate and acquire
a suitable
site sites for
such public port or
port ports or projects;
(4) construct, develop, maintain, and operate the same in
cooperation with the federal government, any agency of the
federal government, a corporation established under
IC 36-7-23
,
or otherwise, in such a manner and on such terms as will, in the
discretion of the commission, best serve the commercial,
industrial, and agricultural interests of the state;
(5) provide adequate port and terminal facilities to accommodate
water, rail, truck, and airborne and other forms of transportation;
and
(6) provide a traffic exchange point for all forms of transportation,
giving particular attention to the benefits which may accrue to the
state and its citizens by the opening of the St. Lawrence Seaway
and river transportation.
(b) The title to all property included in any port or project shall be
taken in the name of, and shall be in, the state of Indiana.
SOURCE: IC 8-10-1-7; (03)IN1790.1.6. -->
SECTION 6.
IC 8-10-1-7
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 7. The commission is authorized
and empowered
to do the following:
(1) To adopt bylaws for the regulation of its affairs and the
conduct of its business.
(2) To adopt an official seal which shall not be the seal of the
state of Indiana.
(3) To maintain a principal office and sub-offices at such place or
places within the state as it may designate.
(4) To sue and be sued, and to plead and be impleaded in its own
name. However, actions at law against the commission shall be
brought in the circuit court of the county in which the principal
office of the commission is located or in the circuit court of the
county in which the cause of action arose, if the county is located
within the state. All summonses and legal notices of every kind
shall be served on the commission by leaving a copy thereof at the
principal office of the commission with the person in charge
thereof or with the secretary of the commission. However, no such
action shall be deemed commenced until a copy of the summons
and complaint, cross complaint, petition, bill, or pleading is
served upon the attorney general of Indiana.
(5) To acquire, lease, construct, maintain, repair, police, and
operate a port or
port project as provided in this chapter, and to
establish rules and regulations for the use of
such the port or
port
project, and other property subject to the jurisdiction and control
of the commission.
(6) To issue
port both taxable and tax exempt revenue bonds of
the state, payable solely from revenues, as herein provided, for the
purpose of paying all or any part of the cost of a port or
port
project.
(7)
To lend the proceeds of any revenue bonds to a borrower
under a loan agreement and to provide for such security as
the commission considers advisable.
(8) To acquire, lease, and operate tug boats, locomotives, and any
and every kind of motive power and conveyances or appliances
necessary or proper to carry passengers, goods, wares,
merchandise, or articles of commerce in, on, or around the port or
port project.
(8) (9) To fix and revise from time to time and to collect fees,
rentals, tolls, and other charges for the use of any port or port
project.
(9) (10) To acquire, obtain option on, hold, and dispose of real
and personal property in the exercise of its powers and the
performance of its duties under this chapter.
(10) (11) To designate the location and establish, limit, and
control points of ingress to and egress from the a port property. or
project.
(11) (12) To lease to others for development or operation such
portions of any port or port project, on such terms and conditions
as the commission shall deem advisable.
(12) (13) To make and enter into all contracts, undertakings, and
agreements necessary or incidental to the performance of its
duties and the execution of its powers under this chapter. When
the cost of any such contract for construction, or for the purchase
of equipment, materials, or supplies, involves an expenditure of
more than twenty-five thousand dollars ($25,000), the
commission shall make a written contract with the lowest and best
bidder after advertisement for not less than two (2) consecutive
weeks in a newspaper of general circulation in Marion County,
Indiana, the county where the construction will occur and in
such other publications as the commission shall determine. The
notice shall state the general character of the work and the general
character of the materials to be furnished, the place where plans
and specifications therefor may be examined, and the time and
place of receiving bids. Each bid shall contain the full name of
every person or company interested in it and shall be
accompanied by a sufficient bond or certified check on a solvent
bank that if the bid is accepted a contract will be entered into and
the performance of its proposal secured. The commission may
reject any and all bids. A bond with good and sufficient surety as
shall be approved by the commission, shall be required of all
contractors in an amount equal to at least fifty percent (50%) of
the contract price conditioned upon the faithful performance of
the contract.
(14) To construct, assemble, or otherwise build, own, lease,
operate, manage, or otherwise control any project throughout
Indiana for the purpose of promoting economic growth and
development throughout Indiana, retaining existing
employment within Indiana, and attracting new employment
opportunities within Indiana.
(13) (15) To employ an executive director or manager, consulting
engineers, superintendents, and such other engineers, construction
and accounting experts, attorneys, and other employees and
agents as may be necessary in its judgment, and to fix their
compensation, but no compensation of any employee of the
commission shall exceed the compensation of the highest paid
officer or employee of the state. However, the employment of an
attorney shall be subject to such approval of the attorney general
as may be required by law.
(14) (16) To receive and accept from any federal agency grants
for or in aid of the construction of any port or
port project, and to
receive and accept aid or contributions from any source of either
money, property, labor, or other things of value, to be held, used,
and applied only for the purposes for which such grants and
contributions may be made.
(15) (17) To provide coverage for its employees under the
provisions of
IC 22-3-2
through
IC 22-3-6
, and IC 22-4.
(16) (18) To do all acts and things necessary or proper to carry out
the powers expressly granted in this chapter.
and
(17) (19) To hold, use, administer, and expend such sum or sums
as may herein or hereafter be appropriated or transferred to the
commission.
SOURCE: IC 8-10-1-8; (03)IN1790.1.7. -->
SECTION 7.
IC 8-10-1-8
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 8. If the commission shall find it
necessary to change the location of any portion of any public road,
highway, railroad, or public utility facility, it shall cause the same to
be reconstructed at such location as the division of government having
jurisdiction over such road, highway, railroad or public utility facility
shall deem most favorable and of substantially the same type and in as
good condition as the original road, highway, or railroad or public
utility facility. The cost of such reconstruction, relocation, or removal
and any damage incurred in changing the location of any such road,
highway, railroad, or public utility facility, shall be ascertained and
paid by the commission as a part of the cost of
such the port or
port
project. The commission shall have authority to petition the circuit
court of the county wherein is situated any public road or part thereof,
affected by the location therein of any port or port project, for the
vacation or relocation of such road or any part thereof with the same
force and effect as statutes in effect on March 2, 1961, to the
inhabitants of any municipality or governmental subdivision of the
state. The proceedings upon such petition, whether it be for the
appointment of appraisers or otherwise, shall be the same as provided
by statutes in effect on March 2, 1961, for similar proceedings upon
such petitions. In addition to the foregoing powers, the commission and
its authorized agents and employees, after proper notice, may enter
upon any lands, waters, and premises in the state for the purpose of
making surveys, soundings, drillings, and examinations as are
necessary or proper for the purposes of this chapter, and such entry
shall not be deemed a trespass, nor shall an entry for such purpose be
deemed an entry under any condemnation proceedings which may be
then pending; provided, that before entering upon the premises of any
railroad, notice shall be given to the superintendent of such railroad
involved at least five (5) days in advance of such entry, and provided,
that no survey, sounding, drilling, and examination shall be made
between the rails, or so close to a railroad track, as would render said
track unusable. The commission shall make reimbursement for any
actual damage resulting to such lands, waters, and premises and to
private property located in, on, along, over, or under such lands, waters
and premises, as a result of such activities. The state of Indiana, subject
to the approval of the governor, hereby consents to the use of lands
owned by it, including lands lying under water and riparian rights,
which are necessary or proper for the construction or operation of any
port or port project, provided adequate compensation is made for such
use. The commission shall also have power to make reasonable
regulations for the installation, construction, maintenance, repair,
renewal, relocation, and removal of tracks, pipes, mains, conduits,
cables, wires, towers, poles, and other equipment and appliances
(referred to in this section as "public utility facilities") of any public
utility in, on, along, over, or under any port or port project. Whenever
the commission shall determine that it is necessary that any such public
utility facilities which are, on or after March 2, 1961, located in, on,
along, over, or under any such port or port project should be relocated
or should be removed from such the port or port project, the public
utility owning or operating such facilities shall relocate or remove the
same in accordance with the order of the commission. provided,
However, that the cost and expenses of such relocation or removal,
including the cost of installing such facilities in a new location or new
locations, and the cost of any lands, or any rights or interests in lands,
and any other rights, acquired to accomplish such relocation or
removal, shall be ascertained and paid by the commission as a part of
the cost of such the port or port project, excepting, however, cases in
which such equipment or facilities are located within the limits of
highways or public thoroughfares being constructed, reconstructed, or
improved under the provisions of this chapter. In case of any such
relocation or removal of facilities, the public utility owning or
operating the same, its successors or assigns, may maintain and operate
such facilities, with the necessary appurtenances, in the new location
or new locations, for as long a period, and upon the same terms and
conditions, as it had the right to maintain and operate such facilities in
their former location or locations subject, however, to the state's right
of regulation under its police powers.
SOURCE: IC 8-10-1-9; (03)IN1790.1.8. -->
SECTION 8.
IC 8-10-1-9
IS AMENDED TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 9. (a) The commission shall have
power to adopt such by-laws, rules and regulations as it may deem
advisable for the control and regulation of any port or port project or
traffic on any port or port project, for the protection of and preservation
of property under its jurisdiction and control, and for the maintenance
and preservation of good order within the property under its control,
and such by-laws, rules and regulations shall be published in a
newspaper of general circulation in Marion County, Indiana, and in
such other manner as the commission shall prescribe; however, such
rules and regulations shall provide that public officers shall be afforded
ready access, while in performance of their official duty, to all property
under the jurisdiction or control of the commission without the
payment of tolls.
(b) Such rules and regulations adopted under this section shall be
adopted under
IC 4-22-2.
(c) A person who violates a rule or regulation of the commission
commits a Class C infraction.
SOURCE: IC 8-10-1-10; (03)IN1790.1.9. -->
SECTION 9.
IC 8-10-1-10
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 10.
(a) The commission
is hereby authorized and empowered to acquire by purchase whenever
it shall deem such purchase expedient, any land, property, rights,
right-of-ways, franchises, easements and other interests in lands,
including lands under water and riparian rights, as it may deem
necessary or convenient for the construction and operation of any port
or
port project, upon such terms and at such price as may be considered
by it to be reasonable and can be agreed upon between the commission
and the owner thereof, and to take title thereto in the name of the state.
(b) The commission is hereby further authorized and empowered to
sell, transfer and convey any such land or any interest therein so
acquired, or any portion thereof, when the same shall no longer be
needed for such purposes. and it The commission is further authorized
and empowered to transfer and convey any such lands or interest
therein as may be necessary or convenient for the construction and
operation of any port or port project, or as otherwise required under the
provisions of this chapter. Provided, That However, no such sale shall
be made without first obtaining the approval of the Governor, first
obtained and a sale may not be made at not less than the appraised
value established by three (3) independent appraisers appointed by the
Governor. The commission shall be authorized to restrict the use of any
land so sold by it and provide for a reversion to the commission in the
event the land shall not be used for the purpose represented by the
purchaser, and such restrictions and reversions shall be set out in
appropriate covenants in the deeds of conveyance, which deeds shall
be subject to the approval of the Governor.
(c) The commission shall also be authorized to lease, or grant
options to lease, to others for development any portion of the land
owned by the commission, on such terms as the commission shall
determine to be advantageous. All such leases or options to lease which
leases cover a period of more than four (4) years shall be subject to the
approval of the Governor. Leases of lands under the jurisdiction or
control of the commission shall be made only for such uses and
purposes as are calculated to contribute to the growth and development
of the port and ports, terminal facilities, and projects under the
jurisdiction or control of the commission. In the event the commission
shall lease to others a building or structure financed by the issuance of
revenue bonds the rental shall be in an amount at least sufficient to pay
the interest on and principal of the amount of such bonds representing
the cost of such building or structure to the extent such interest and
principal is payable during the term of the lease, as well as to pay the
cost of maintenance, repair and insurance for such building and a
reasonable portion of the commission's administrative expense incurred
during the term of the lease which is allocable to such building or
structure.
(d) No tenant, lessee, licensee, owner of real estate located within
a port or project, or other person or entity has any right, claim,
title, or interest in any real estate, personal property, or common
property owned by the commission, a port, a project, or the state,
unless a written agreement entered into by the commission
expressly provides:
(1) the exact nature and extent of the right, claim, title, or
interest;
(2) all the conditions under which the right, claim, title, or
interest is granted; and
(3) a legal or complete description of the specific property.
SOURCE: IC 8-10-1-11; (03)IN1790.1.10. -->
SECTION 10.
IC 8-10-1-11
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 11. The commission is
hereby authorized and empowered to acquire by appropriation, under
the provisions of the eminent domain law of the state, any land,
including lands under water and riparian rights, property, rights,
rights-of-way, franchises, easements or other property necessary or
proper for the construction or the efficient operation of any port or port
project. The commission shall also be empowered to exercise such
powers of eminent domain as may be conferred upon the commission
by an act of Congress of the United States now in force, or which may
hereafter be enacted. Title to the property condemned shall be taken in
the name of the state of Indiana. Nothing herein shall authorize the
commission to take or disturb property or facilities constituting all or
part of any presently existing or operating public port and nothing
herein shall authorize the commission to take or disturb property or
facilities belonging to any public utility or to a common carrier engaged
in interstate commerce, which property or facilities are required for the
proper and convenient operation of such public utility or common
carrier, unless provision is made for the restoration, relocation or
duplication of such property or facilities elsewhere at the sole cost of
the commission excepting however, cases in which such equipment or
facilities are located within the limits of existing highways or public
thoroughfares.
SOURCE: IC 8-10-1-12; (03)IN1790.1.11. -->
SECTION 11.
IC 8-10-1-12
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 12. (a) A special and
distinct revolving fund is hereby created, to be known as the Indiana
port fund. Expenditures from said fund shall be made only for the
acquisition of land including lands under water and riparian rights, or
options for the purchase of such land for a port
or project site, and
incidental expenses incurred in connection with such acquisition, and
for studies in connection with the port
or project, and including
administrative expenses of the commission. Said fund shall be held in
the name of the Indiana port commission, shall be administered by the
commission, and all expenditures therefrom shall be made by the
commission, subject, however, to the approval by governor and the
state budget committee of all expenditures of moneys advanced to said
fund by the state of Indiana. Requests for such approval shall be made
in such form as shall be prescribed by the budget committee, but
expenditures for acquisition of land including lands under water and
riparian rights, or options for the purchase of such land, shall be
specifically requested and approved as to the land to be acquired and
the amount to be expended. No transfers from said fund to any other
fund of the state shall be made except pursuant to legislative action. All
unexpended funds appropriated to the Indiana board of public harbors
and terminals by Acts 1957, c.286, s.6, are hereby transferred to and
made a part of the Indiana port fund created by this section, and shall
be expended for the purpose and in the manner provided by this
chapter, subject only to the restrictions contained in this chapter and no
others; provided, however, that not to exceed one hundred thousand
dollars ($100,000) shall be expended for any purpose other than the
acquisition of land, including lands under water and riparian rights, or
options for the purchase of such land for a port or project site, and
incidental expenses incurred in connection with such acquisition.
(b) Upon the sale of port revenue bonds for any port or project, the
funds expended from the Indiana port fund in connection with the
development of such port or project and any obligation or expense
incurred by the commission for surveys, preparation of plans and
specifications, and other engineering or other services in connection
with development of such port or project shall be reimbursed to the
state general fund from the proceeds of such bonds.
SOURCE: IC 8-10-1-13; (03)IN1790.1.12. -->
SECTION 12.
IC 8-10-1-13
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 13. (a) The commission
is hereby authorized to provide by resolution, at one time or from time
to time, for the issuance of
port revenue bonds of the state for the
purpose of paying all or any part of the cost of a port
or project. The
principal of and the interest on such bonds shall be payable solely from
the revenues specifically pledged to the payment thereof. The bonds of
each issue shall be dated, shall bear interest at any rate, shall mature at
such time or times not exceeding fifty (50) years from the date thereof,
as may be determined by the commission, and may be made
redeemable before maturity, at the option of the commission, at such
price or prices and under such terms and conditions as may be fixed by
the commission in the authorizing resolution.
(b) The commission shall determine the form of the bonds,
including any interest coupons to be attached thereto, and shall fix the
denomination or denominations of the bonds and the place or places of
payment of principal and interest which may be at any bank or trust
company within or without the state.
(c) The bonds shall be signed in the name of the commission, by its
chairman or vice chairman or by the facsimile signature of such
chairman or vice chairman, and the official seal of the commission, or
facsimile thereof, shall be affixed thereto and attested by the
secretary-treasurer of the commission, and any coupons attached
thereto shall bear the facsimile signature of the chairman of the
commission. In case any officer whose signature or a facsimile of
whose signature shall appear on any bonds or coupons shall cease to be
such officer before the delivery of such bonds, such signature or such
facsimile shall nevertheless be valid and sufficient for all purposes the
same as if he had remained in office until such delivery.
(d) All bonds issued under this chapter shall have and are hereby
declared to have all the qualities and incidents of negotiable
instruments under the negotiable instruments law of the state of
Indiana.
(e) The bonds may be issued in coupon or in registered form, or
both, as the commission may determine, and provision may be made
for the registration of any coupon bonds as to principal alone and also
as to both principal and interest, and for the reconversion into coupon
bonds of any bonds registered as to both principal and interest.
(f) The bonds shall be sold at public sale in accordance with
IC 4-1-5
, except as provided in section 16.5 of this chapter.
(g) No action to contest the validity of any bonds issued by the
commission under this chapter shall be commenced more than
thirty (30) days following the adoption of the resolution approving
the bonds as provided in this chapter.
SOURCE: IC 8-10-1-14; (03)IN1790.1.13. -->
SECTION 13.
IC 8-10-1-14
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 14. The proceeds of the
bonds of each issue shall be used solely for the payment of the cost of
the port
or project for which such bonds shall have been issued, and
shall be disbursed in such manner and under such restrictions, if any,
as the commission may provide in the resolution authorizing the
issuance of such bonds or in the trust agreement mentioned in this
chapter securing the same. If the proceeds of the bonds of any issue, by
error of estimates or otherwise, shall be less than such cost, additional
bonds may in like manner be issued to provide the amount of such
deficit, and, unless otherwise provided in the resolution authorizing the
issuance of such bonds or in the trust agreement securing the same,
shall be deemed to be of the same issue and shall be entitled to
payment from that same fund without preference or priority of the
bonds first issued. If the proceeds of the bonds of any issue shall
exceed the cost of the port
or project for which the same shall have
been issued, the surplus shall be deposited to the credit of the sinking
fund for such bonds. Prior to the preparation of definitive bonds, the
commission may, under like restrictions, issue interim receipts or
temporary bonds, with or without coupons, exchangeable for definitive
bonds when such bonds shall have been executed and are available for
delivery. The commission may also provide for the replacement of any
bonds which shall become mutilated or shall be destroyed or lost.
Bonds and any other instruments or the security for the bonds and
other instruments that are authorized by this chapter may be issued
under the provisions of this chapter without obtaining the consent of
any officer, department, division, commission, board, bureau, or
agency of the state, and without any other proceedings or the happening
of any other conditions or things than those proceedings, conditions, or
things which are specifically required by this chapter.
SOURCE: IC 8-10-1-15; (03)IN1790.1.14. -->
SECTION 14.
IC 8-10-1-15
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 15. The commission is
hereby authorized to provide by resolution for the issuance of port
revenue refunding bonds of the state payable solely from revenues for
the purpose of refunding any bonds then outstanding which shall have
been issued under the provisions of section 13 of this chapter,
including the payment of any redemption premium thereon and any
interest accrued or to accrue to the date of redemption of such bonds,
and, if deemed advisable by the commission, for the additional purpose
of constructing improvements, extensions, or enlargements of the port
or project in connection with which the bonds to be refunded shall
have been issued. The issuance of such bonds, the maturities and other
details thereof, the rights of the holders thereof and the rights, duties
and obligations of the commission in respect of the same, shall be
governed by the provisions of this chapter insofar as the same may be
applicable.
SOURCE: IC 8-10-1-16; (03)IN1790.1.15. -->
SECTION 15.
IC 8-10-1-16
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 16. In the discretion of
the commission any bonds issued under the provisions of this act may
be secured by a trust agreement by and between the commission and a
corporate trustee, which may be any trust company or bank having the
powers of a trust company within the state. Any resolution adopted by
the commission providing for the issuance of
revenue bonds and any
trust agreement pursuant to which such bonds are issued may pledge
or assign all or any portion of the revenues received or to be received
by the commission except such part as may be necessary to pay the cost
of the commission's administrative expenses, operation, maintenance
and repair and to provide reserves therefor and depreciation reserves
required by any bond resolution adopted or trust agreement executed
by the commission, but the commission shall not convey or mortgage
any port port or project or any part thereof. In authorizing the issuance
of bonds for any particular port or project, undertaken in connection
with the development of the port, the commission may limit the amount
of such bonds that may be issued as a first lien and charge against the
revenues pledged to the payment of such bonds or the commission may
authorize the issuance from time to time thereafter of additional bonds
secured by the same lien to provide funds for the completion of the port
or project on account of which the original bonds were issued, or to
provide funds to pay the cost of additional port projects undertaken in
connection with the development of the port or project, or for both
such purposes. Such additional bonds shall be issued on such terms and
conditions as may be provided in the bond resolution or resolutions
adopted by the commission and in the trust agreement or any
agreement supplemental thereto and may be secured equally and
ratably without preference, priority or distinction with the original issue
of bonds or may be made junior thereto. Any pledge or assignment
made by the commission pursuant hereto shall be valid and binding
from the time that the pledge or assignment is made and the revenues
so pledged and thereafter received by the commission shall
immediately be subject to the lien of such pledge or assignment without
physical delivery thereof or further act. The lien of such pledge or
assignment shall be valid and binding against all parties having claims
of any kind in tort, contract or otherwise against the commission
irrespective of whether such parties have notice thereof. Neither the
resolution nor any trust agreement by which a pledge is created or
assignment made need be filed or recorded except in the records of the
commission. Any such trust agreement or any resolution providing for
the issuance of such bonds may contain such provisions for protecting
and enforcing the rights and remedies of the bondholders as may be
reasonable and proper and not in violation of law, including, but not
limited to, covenants setting forth the duties of the commission in
relation to the acquisition of property and the construction,
improvement, maintenance, repair, operation and insurance of the port
or project in connection with which such bonds shall have been
authorized, the rates of fees, tolls, rentals or other charges, to be
collected for the use of the project, and the custody, safeguarding and
application of all moneys, and provisions for the employment of
consulting engineers in connection with the construction or operation
of such project. It shall be lawful for any bank or trust company
incorporated under the laws of the state which may act as depository of
the proceeds of bonds or other funds of the commission, to furnish such
indemnifying bonds or to pledge such securities as may be required by
the commission. Any such trust agreement may set forth the rights and
remedies of the bondholders and of the trustee, and may restrict the
individual right of action by bondholders as is customary in trust
agreements or trust indentures securing bonds or debentures of private
corporations. In addition to the foregoing, any such trust agreement
may contain such other provisions as the commission may deem
reasonable and proper for the security of the bondholders. All expenses
incurred in carrying out the provisions of any such trust agreement may
be treated as a part of the cost of the operation of the port or project.
SOURCE: IC 8-10-1-16.5; (03)IN1790.1.16. -->
SECTION 16.
IC 8-10-1-16.5
IS ADDED TO THE INDIANA
CODE AS A NEW SECTION TO READ AS FOLLOWS
[EFFECTIVE JULY 1, 2003]: Sec. 16.5. (a) In addition to the powers
of the commission to issue revenue bonds for the acquisition or
construction of property owned by the commission and leased to a
lessee, the commission may also issue revenue bonds and lend the
proceeds of those bonds to a borrower, with the bonds to be
secured by the borrower's promissory note and any other security
required by the commission.
(b) If the commission issues revenue bonds as described in
subsection (a), the borrower shall be required to apply the
proceeds of the loan to the costs of a project authorized by this
chapter.
(c) Revenue bonds issued under this section may be sold either
at public sale or by private negotiation as the commission shall
determine.
(d) The commission may require a borrower of the proceeds of
revenue bonds issued under subsection (a) to grant to the
commission a mortgage or other security that the commission
considers appropriate, which the commission may assign to or for
the benefit of the purchase of such revenue bonds.
(e) All other provisions set forth in this chapter relating to the
issuance of revenue bonds apply to revenue bonds issued under this
section except to the extent inconsistent with this section.
SOURCE: IC 8-10-1-17; (03)IN1790.1.17. -->
SECTION 17.
IC 8-10-1-17
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 17. The commission
shall be authorized to fix, review, charge and collect fees, tolls, rentals
and other charges for the use of the
port, port project, ports, projects,
terminal facilities, and lands under the jurisdiction or control of the
commission or services rendered by the commission, and the aggregate
thereof shall provide revenues at least sufficient to pay the cost of
operation, maintenance and repair of the port
or project and terminal
facilities, including the administration expenses of the commission, and
in case revenue bonds are issued, sufficient to pay the interest on and
principal of the bonds in accordance with their terms, and also
sufficient to establish and maintain reserves created for all such
purposes and for depreciation purposes. The fixing and collection of
such fees, tolls, rentals and other charges and the expenditure of the
revenues derived therefrom shall not be subject to the supervision or
regulation by any other officer, commission, board, bureau or agency
of the state. After such bonds have been fully paid and discharged and
all obligations under any trust agreement securing the same have been
performed or satisfied, any remaining surplus net revenues and all
surplus net revenues thereafter derived from the operation of such the
port or project shall be paid into the state general fund.
SOURCE: IC 8-10-1-19; (03)IN1790.1.18. -->
SECTION 18.
IC 8-10-1-19
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 19. Any holder of
bonds issued under the provisions of this chapter or any of the coupons
appertaining thereto, and the trustee under any trust agreement, except
to the extent the rights given in this chapter may be restricted by the
authorizing resolution or trust agreement, may, either at law or in
equity, by suit, action, mandamus, or other proceedings, protect and
enforce any and all rights under the statutes of the state or granted
under this chapter or under such trust agreement, or the resolution
authorizing the issuance of such bonds, and may enforce and compel
the performance of all duties required by this chapter or by such trust
agreement or resolution to be performed by the commission or by any
officer thereof, including the fixing, charging, and collecting of fees,
tolls, rentals, or other charges for the use of the port or port project.
SOURCE: IC 8-10-1-20; (03)IN1790.1.19. -->
SECTION 19.
IC 8-10-1-20
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 20. Each port or port
project, as defined in section 2 of this chapter, when constructed and
opened to traffic placed in operation shall be maintained and kept in
good condition and repair by the commission. Each such project shall
also be policed and operated by such force of police, tolltakers, and
other operating employees as the commission may in its discretion
employ. All public or private property damaged or destroyed in
carrying out the powers granted by this chapter shall be restored or
repaired and placed in its original condition as nearly as practicable or
adequate compensation made therefor out of funds provided under the
authority of this chapter.
SOURCE: IC 8-10-1-21; (03)IN1790.1.20. -->
SECTION 20.
IC 8-10-1-21
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 21. All counties, cities,
towns, townships and other political subdivisions and all public
agencies and commissions of the state, notwithstanding any contrary
provision of law, are hereby authorized and empowered to lease, lend,
grant or convey to the commission at its request upon such terms and
conditions as the proper authorities of such counties, cities, towns,
townships, other political subdivisions or public agencies and
commissions of the state may deem reasonable and fair and without the
necessity for an advertisement, order of court or other action or
formality, other than the regular and formal action of the authorities
concerned, any real or personal property owned by any such
municipality or governmental subdivision which may be necessary or
convenient to the effectuation of the authorized purposes of the
commission.
SOURCE: IC 8-10-1-22; (03)IN1790.1.21. -->
SECTION 21.
IC 8-10-1-22
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 22. (a) The commission
shall cause an audit of its books and accounts to be made at least once
each year by certified public accountants and the cost thereof may be
treated as a part of the cost of construction or of operations of the
project. commission's ports and projects. The accounts, books and
records of the Indiana port commission shall be audited annually by the
state board of accounts, and the cost of such audit may be treated as a
part of the cost of construction or of operations of the port project.
commission's ports and projects.
(b) The commission shall, following the close of each fiscal year,
submit an annual report of its activities for the preceding year to
the governor. Each member of the general assembly shall receive
a copy of such report by making a request for it to the chairman of
the commission. Each report shall set forth a complete operating
and financial statement for the commission during the fiscal year
it covers.
SOURCE: IC 8-10-1-25; (03)IN1790.1.22. -->
SECTION 22.
IC 8-10-1-25
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 25. Revenue bonds
issued by the commission under the provisions of this chapter shall
constitute legal investments for any private trust funds, and the funds
of any banks, trust companies, insurance companies, building and loan
associations, credit unions, banks of discount and deposit, savings
banks, loan and trust and safe deposit companies, rural loan and
savings associations, guaranty loan and savings associations, mortgage
guaranty companies, small loan companies, and industrial loan and
investment companies, and any other financial institutions organized
under Indiana statutes.
The bonds are also made securities that may
be deposited with and received by all public officers and bodies of
this state or any agency or political subdivisions of this state and all
municipalities and public commissions for any purpose for which
the deposit of bonds or other obligations of this state is now or may
be later authorized by law.
SOURCE: IC 8-10-1-27; (03)IN1790.1.23. -->
SECTION 23.
IC 8-10-1-27
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 27. (a) The exercise of
the powers granted by this chapter will be in all respects for the benefit
of the people of the state, for the increase of their commerce and
prosperity, and for the improvement of their health and living
conditions.
(b) As the operation and maintenance of a port or project by the
commission will constitute the performance of essential governmental
functions, the commission shall not be required to pay any taxes or
assessments upon any port or project or any property acquired or used
by the commission under the provisions of this chapter or upon the
income therefrom. The bonds issued by the commission, the interest
thereon, the proceeds received by a holder from the sale of such bonds
to the extent of the holder's cost of acquisition, or proceeds received
upon redemption prior to maturity or proceeds received at maturity, and
the receipt of such interest and proceeds shall be exempt from taxation
in the state of Indiana for all purposes except the financial institutions
tax imposed under IC 6-5.5 or a state inheritance tax imposed under
IC 6-4.1.
(c) Notwithstanding any other statute, a lessee's leasehold estate in
land that is part of a port or project and that is owned by the state or
the commission is exempt from property taxation.
SOURCE: IC 8-10-1-30; (03)IN1790.1.24. -->
SECTION 24.
IC 8-10-1-30
IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2003]: Sec. 30. The state hereby pledges and agrees with the
holders of any bonds issued under this chapter that the state will
not limit or alter the rights vested in the commission to fulfill the
terms of any agreements made with the holders or in any way
impair the rights or remedies of the holders until the bonds,
together with the interest, with interest on any unpaid installments
of interest, and all costs and expenses in connection with any action
or proceeding by or on behalf of the holders, are fully met and
discharged. The commission is authorized to include this pledge
and agreement of the state in any agreement with the holders of the
bonds.
SOURCE: IC 8-10-2-2; (03)IN1790.1.25. -->
SECTION 25.
IC 8-10-2-2
IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 2.
(a) In addition to the
powers conferred upon the Indiana port commission by other
provisions of this article, the commission, whenever it finds that the
economic welfare of the state would thereby be benefited, by additional
employment opportunities, or by additional diversification of industry
within the state, or by increased income or prosperity to the state and
its residents, or for any other reason, shall have the power to acquire,
construct, maintain, repair, police, and lease to others such facilities for
manufacturing, storage, or processing of goods, or for the carrying on
of commercial, business, or recreational activities as the commission
further finds will increase the water-borne traffic into or out of the port
or project. Any such facilities and the site thereof shall not be exempt
from property taxation, and the lessee in any lease thereof shall agree
to pay all property taxes levied on such facilities and the site thereof.
(b) In exercising the powers granted in this section, the commission
shall have all the powers granted to it by this article, in connection with
a port or project, and the term terms "port" and "project", as used in
IC 8-10-1
, shall be deemed to include facilities, adjuncts, and
appurtenances of the character referred to in this section.
(c) It is further declared that the acquisition, construction,
maintenance, repair, policing of, and leasing to others of such facilities
under the conditions set forth in this section is a public purpose.
(d) Nothing in this section shall authorize the Indiana port
commission to take, condemn, or disturb any property right or interest
in property, existing on March 10, 1967, including permits and
authorities to fill and reclaim submerged lands, or any facilities
constituting all or part of any operating property or any private or
public port. The Indiana port commission shall make reimbursement
for any actual damage to any public or private facilities, including but
not limited to breakwaters, water intakes, wharves, piers, boat docks,
warehouses, and pipeline equipment resulting from the exercise by it
of any powers granted to it by this section.