(A) Pursuant to I.C. 8-10-5-2, the city hereby creates a port authority to be known as the Port Authority of New Albany (PANA). PANA shall be a body corporate and politic which may sue and be sued, may plead and be impleaded. PANA shall have all the powers and jurisdiction as enumerated in the port authority statute and as outlined in I.C. 8-10-5 et seq. (as may be amended).
(B) In the exercise of the powers and authorities granted in the port authority statute, PANA shall have power to make and enter into any and all contracts that may be necessary to effectuate the purposes of this subchapter. Except as otherwise expressly provided in this subchapter or the port authority statute, a contract made by PANA is not subject to ratification by any other board, body, or officer.
(Ord. G-14-02, passed 1-6-2014)