Sec. 6. (a) A regional development authority may do the following: (1) Apply for federal funds from any of the following: (A) A federal grant award under 23 U.S.C. 117 for nationally significant freight and highway projects (commonly known as "FASTLANE" grants). (B) A federal grant award that is authorized to be made directly to the authority under any other federal grant program with a transportation infrastructure component. (2) Negotiate the terms of and enter into a supplemental funding agreement with the Indiana department of transportation or a political subdivision. Negotiation under this subsection may include the execution of a preliminary memorandum of understanding. (3) Issue bonds or enter into leases as provided in IC 36-7.5 or IC 36-7.6 (as appropriate) for the purposes set forth in this chapter. (b) A regional development authority may do all acts or things necessary or proper to carry out this chapter.
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