(a) A housing authority is not subject to statutes regarding the acquisition, operation, construction, reconstruction, improvement, alteration, repair, disposition, or exchange of real or personal property by other public bodies, except:

1. (1) with regard to money received from municipalities or counties and derived from local tax levies;
2. (2) with regard to money received from the state; and
3. (3) as otherwise provided by this chapter.

(c) This subsection applies if a housing authority disposes of real property or awards a contract for the procurement of property by acceptance of bids, proposals, or quotations. A bid, proposal, or quotation submitted by a trust (as defined in IC 30-4-1-1 (a)) must identify each:

1. (1) beneficiary of the trust; and

2. (2) settlor empowered to revoke or modify the trust.

   [Pre-Local Government Recodification Citation: 18-7-11-8(i).]

   As added by Acts 1981, P.L.309, SEC.37. Amended by P.L.336-1989(ss), SEC.53.