Sec. 4. (a) A multiple jurisdiction infrastructure authority may be established under this chapter by:
(1) ordinance of the fiscal body of each unit participating in the authority; and
(2) if a county is one (1) of the units participating in the authority, the order of the executive of that county; and
(3) an agreement among the participating units, executed by the executive of each participating unit following the approval of the legislative body of each of the participating units.
(b) The authority is a public body corporate and politic. The authority is separate from the state, but the exercise by the authority of its powers is an essential governmental function.
(c) An agreement to establish an authority must include:
(1) more than one (1) unit as a participant; and
(2) a formula for distributing funds contributed by the units participating in the authority.
(d) An authority may add additional participating units at any time by following the procedures set forth in subsection (a).
(e) A unit may participate in more than one (1) authority.
As added by P.L.346-1989(ss), SEC.7. Amended by P.L.86-1999, SEC.7.