Sec. 3. The board shall establish a foundation that is organized as a nonprofit corporation that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code to solicit and accept private funding, gifts, donations, bequests, devises, and contributions to meet the requirements of IC 8-25-3-6(a).
As added by P.L.153-2014, SEC.17.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 25. Central Indiana Public Transportation Projects
Chapter 7. Public Transportation Foundation in Marion County
8-25-7-3. Establishment of Foundation; Purposes
8-25-7-4. Use of Money Collected by Foundation
8-25-7-5. Governance of Foundation
8-25-7-6. Terms of Foundation Board Members
8-25-7-7. Official Action of Foundation Board by Majority Vote