AN ACT to amend the Indiana Code concerning transportation.
otherwise expressly provided for shall be made without by this
chapter, a contract made by a port authority is not subject to
ratification thereof by any other board, body, or officer.
port authority.
(7) (6) Apply to the proper authorities of the United States
pursuant to appropriate law for the right to establish, operate, and
maintain foreign trade zones within the limits of the port authority
and establish, operate, and maintain such foreign trade zones.
(8) (7) Exercise the right of eminent domain to appropriate any
land, rights, rights-of-way, franchises, easements, or other
property necessary or proper for the construction or the efficient
operation of any facility of the port authority, award damages to
landowners for real estate and property rights appropriated and
taken or injuriously affected, and in case the board of directors of
the port authority cannot agree with the owners, lessees, or
occupants of any real estate selected by them for the purposes
herein set forth, proceed to procure the condemnation of the same
as hereinafter provided, and in addition thereto, when not in
conflict or inconsistent with the express provisions of this chapter,
proceed under the general laws of the state of Indiana governing
the condemnation of lands and the rights-of-way for other public
purposes which may be in force at the time, and the provisions of
such laws are hereby extended to ports and harbors and to the
properties of port authorities as provided for herein so far as the
same are not in conflict or inconsistent with the terms of this
chapter. In any such proceeding prosecuted by the board of
directors of a port authority to condemn or appropriate any land
or the use thereof or any right therein for purposes permitted by
this chapter, the board and all owners and holders of property or
rights therein sought to be taken shall be governed by and have
the same rights as to procedure, notices, hearings, assessments of
benefits and awards, and payments thereof as are now or may
hereafter be prescribed by law for the appropriation and
condemnation of real estate, and such property owners shall have
like powers and rights as to remonstrance and of appeals to the
circuit or superior courts in the county in which such property
sought to be appropriated is located. However, the payment of all
damages awarded for all lands and property or interests or rights
therein appropriated under the provisions of this chapter shall be
paid entirely out of funds under the control of such port authority,
except for the following:
(A) Upon written application of any property owner affected,
any municipal corporation, or, as to areas outside the
boundaries of a municipal corporation, any county,
participating in the creation of a port authority, after ten (10)
days written notice to the port authority and public hearing had
thereon, may revoke the right of eminent domain to be
exercised by the port authority as to any parcel or parcels of
land inside its borders within sixty (60) days after the port
authority has by resolution announced the lands, rights,
rights-of-way, franchises, easements, or other property to be
taken.
(B) Nothing herein contained shall authorize a port authority
to take or disturb property or facilities belonging to any public
corporation, public utility, or common carrier, which property
or facilities are necessary and convenient in the operation of
such public corporation, public utility, or common carrier,
unless provision is made for the restoration, relocating, or
duplication of such property or facilities, or upon the election
of such public corporation, public utility, or common carrier,
for the payment of compensation, if any at the sole cost of the
port authority, subject to the following:
(i) If any restoration or duplication proposed to be made
hereunder shall involve a relocation of such property or
facilities, the new facilities and location shall be of at least
comparable utilitarian value and effectiveness and such
relocation shall not impair the ability of the public utility or
common carrier to compete in its original area of operation.
(ii) Provisions for restoration or duplication shall be
described in detail in the resolution for appropriation passed
by the port authority.
(9) (8) Accept, receive, and receipt for federal moneys, and other
moneys, either public or private, for the acquisition, construction,
enlargement, improvement, maintenance, equipment, or operation
of a port or harbor or other navigation facilities, and sites therefor
and comply with the provisions of the laws of the United States
and any rules and regulations made thereunder for the expenditure
of federal moneys upon such ports and other navigation facilities.
(10) (9) Maintain such funds as it deems necessary.
(11) (10) Direct its agents or employees, when properly identified
in writing, and after at least five (5) days written notice, to enter
upon lands within the confines of its jurisdiction in order to make
surveys and examinations preliminary to location and
construction of works for the purposes of the port authority,
without liability of the port authority or its agents or employees
except for actual damage done.
(12) (11) Sell or lease real and personal property not needed for
the operation of the port authority and grant easements or
rights-of-way over property of the port authority.
(13) (12) Promote, advertise, and publicize the port and its
facilities, provide traffic information and rate information to
shippers and shipping interests, and appear before rate making
authorities to represent and promote the interests of the port.
(13) Borrow money and secure the borrowing by a pledge of
the following:
(A) Accounts receivable.
(B) A security interest in capital equipment for which the
proceeds of the loan are used.
(C) Other security, including the excess of unobligated
revenues over operating expenses.
(b) The term of a loan authorized by subsection (a)(13) may not
exceed thirty-five (35) years.
(a), the board shall give notice of a public hearing at which time the
board shall disclose the purpose for which the bond issue is
proposed, the amount of the proposed issue, and all other pertinent
data. At least ten (10) days before the date set for hearing, the
board shall publish in two (2) newspapers of general circulation in
the city, county, counties, or other municipalities involved, a notice
of the date, time, place, and purpose of the hearing. If there is only
one (1) newspaper, one (1) notice is sufficient.
(c) The governing body shall review the proposal of the board
of directors of the port authority and if it approves shall provide
for the advertisement and sale of the issue in compliance with
IC 5-1-11. For purposes of this chapter, IC 5-1-11 applies as fully
to mortgage bonds as to general obligation or revenue bonds.
(d) Bonds issued under the authority of this chapter are not
subject to limitations on interest rates.
(e) The governing body shall fix the date, time, and place of
payment of principal and interest, but no issue may have a
maturity date later than forty (40) years after date of issue.
(f) Bonds issued under this chapter, together with the interest
thereon, are tax exempt.
(g) The governing body shall apply the proceeds from the sale
of bonds exclusively to the purposes for which the bonds were
issued and only to the extent necessary therefor. Any remaining
balance shall be placed in a sinking fund for the payment of the
bonds and the interest on the bonds.
(h) This chapter does not affect obligations existing before July
1, 2010, on outstanding bonds. If a board of directors or a port
authority is discontinued, as provided in section 4 of this chapter,
the primary obligations on its bonds remain unaffected. In
addition, the city or county or municipalities involved in the
issuance of bonds shall assume liability for the payment of the
bonds according to their terms and in relation to their interest or
proportion in the bonds.