8-25-7-5. Governance of Foundation
Sec. 5. The foundation established under section 3 of this chapter is governed by a board of directors consisting of at least seven (7) voting members appointed by the board. As added by P.L.153-2014, SEC.17.
8-25-7-6. Terms of Foundation Board Members
Sec. 6. The members appointed under section 5 of this chapter shall be appointed for a term of three (3) years but may be removed by the board for cause. As added by P.L.153-2014, SEC.17.
8-25-7-7. Official Action of Foundation Board by Majority Vote
Sec. 7. The affirmative votes of a majority of the members of the board of directors are required for the foundation to take any official action. As added by P.L.153-2014, SEC.17.
8-25-7-8. Necessary Agreements Authorized
Sec. 8. The fiscal body of Marion County or the board, if authorized to carry out a public transportation project under IC 8-25-4, may enter into any agreement necessary with the foundation to meet the requirements of IC 8-25-3-6(a) and carry out the purposes of this chapter. As added by P.L.153-2014, SEC.17.
8-25-7-1. Applicability
Sec. 1. This chapter applies to Marion County. As added by P.L.153-2014, SEC.17.
8-25-7-2. “Board”
Sec. 2. As used in this chapter, “board” refers to the board of a public transportation corporation providing public transportation services in Marion County. As added by P.L.153-2014, SEC.17.
8-25-7-3. Establishment of Foundation; Purposes
Sec. 3. The board shall establish a foundation that is organized as a nonprofit corporation that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code to solicit and accept private funding, gifts, donations, bequests, devises, and contributions to meet the requirements of IC 8-25-3-6(a). As added by P.L.153-2014, SEC.17.
8-25-7-4. Use of Money Collected by Foundation
Sec. 4. A foundation established under section 3 of this chapter: (1) shall use money received under section 3 of this chapter to: (A) fund in part a public transportation project authorized under this article as required by IC 8-25-3-6(a); and (B) carry out the purposes and programs of the foundation under this chapter; and […]