(A) Purpose. The Building Facilities Corporation is organized solely for the purpose of assisting the county with the financing of county facilities through the acquisition, and owning in fee simple, of an existing county building, or buildings, and the land upon which such is located, the acquisition, and owning in fee simple, of a site, or sites, appropriate for a new county building, or buildings, constructing and equipping a suitable county building, or buildings, on such site, or sites, renovating or expanding an existing county building, or buildings, and leasing the same to the county, or its successor municipal corporation, collecting the rentals therefor and applying the proceeds thereof in a manner consistent with I.C. 36-1-10, and facilitating the financing of economic development projects and/or facilities in the county in a manner consistent with I.C. 36-7-11.9 and 36-7-12, all entirely without profit to the Corporation, its officers, directors, or incorporators, other than the return of capital actually invested.
(B) Powers. In furtherance of the purposes set forth in division (A) above, and subject to any limitation or restriction imposed by the Act (I.C. 23-7), I.C. 36-1-10, I.C. 36-7-11.9, I.C. 36-7-12, any other law, or the Articles of Incorporation, the Corporation shall have all the general rights, privileges, and powers granted to corporations by the Act.
(Res. 2016-29, passed 9-13-2016)