(a) In order to remove the handicaps and hazards on the congested highways in Indiana, to facilitate vehicular traffic throughout the state, to promote the agricultural and industrial development of the state, and to provide for the general welfare by the construction of modern express highways embodying safety devices, including center division, ample shoulder widths, long sight distances, multiple lanes in each direction, and grade separations at intersections with other highways and railroads, the authority may:

1. (1) subject to subsection (d), construct, reconstruct, maintain, repair, and operate toll road projects at such locations as shall be approved by the governor;
2. (2) in accordance with such alignment and design standards as shall be approved by the authority and subject to IC 8-9.5-8-10 , issue toll road revenue bonds of the state payable solely from funds pledged for their payment, as authorized by this chapter, to pay the cost of such projects;
3. (3) finance, develop, construct, reconstruct, improve, or maintain improvements for manufacturing, commercial, or public transportation activities within a county through which a toll road passes;

4. (4) in cooperation with the Indiana department of transportation or a political subdivision, construct, reconstruct, or finance the construction or reconstruction of an arterial highway or an arterial street that is located within a county through which a toll road passes and that:

   1. (A) interchanges with a toll road project; or
   2. (B) intersects with a road or a street that interchanges with a toll road project;
5. (5) finance improvements necessary for developing transportation corridors in northwestern Indiana; and
6. (6) exercise these powers in participation with any governmental entity or with any individual, partnership, limited liability company, or corporation.

(c) This chapter:

1. (1) applies to the authority only when acting for the purposes set forth in this chapter; and
2. (2) does not apply to the authority when acting under any other statute for any other purpose.

(d) Before the authority or an operator selected under IC 8-15.5 may enter into an agreement for the financing, construction, maintenance, or operation of a toll road project, the budget committee must first review the proposed agreement.

Formerly: Acts 1951, c.281, s.1; Acts 1959, c.285, s.1. As amended by Acts 1980, P.L.74, SECS.222, 223; P.L.109-1983, SEC.4; P.L.48-1986, SEC.3; P.L.18-1990, SEC.128; P.L.8-1993, SEC.143; P.L.89-1997, SEC.1; P.L.235-2005, SEC.115; P.L.214-2005, SEC.51; P.L.47-2006, SEC.8; P.L.1-2006, SEC.156; P.L.1-2007, SEC.80; P.L.163-2011, SEC.1; P.L.119-2012, SEC.92; P.L.94-2015, SEC.1; P.L.218-2017, SEC.69.