At the request of the public transportation system serving the territory of the authority, the authority may:(1) construct or acquire any public transportation facility for use by the authority or any transportation agency; and(2) acquire transportation facilities from any transportation agency, including:(A) reserve funds;(B) employees' pension or retirement funds;(C) special funds;(D) franchises;(E) licenses;(F) patents;(G) permits; and(H) papers and records of the agency.In making acquisitions from a transportation agency, the authority may assume the obligations of the agency regarding its property or public transportation operations.[Pre-Local Government Recodification Citation: 19-5-2.5-14.]As added by Acts 1981, P.L.309, SEC.76.
Indiana Legal Code