CHAPTER 1. INDIANA NATURAL RESOURCES FOUNDATION
IC 14-12
ARTICLE 12. STATE RESOURCE DEVELOPMENT
IC 14-12-1
Chapter 1. Indiana Natural Resources Foundation
IC 14-12-1-1
"Fund" defined
Sec. 1. As used in this chapter, "fund" refers to the Indiana naturalresources fund established by this chapter.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-2
"Political subdivision" defined
Sec. 2. As used in this chapter, "political subdivision" has themeaning set forth in IC 36-1-2-13.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-3
Repealed
(Repealed by P.L.82-2005, SEC.8.)
IC 14-12-1-4
Creation of foundation
Sec. 4. The Indiana natural resources foundation is created as apublic body corporate and politic.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-5
Members
Sec. 5. (a) The foundation consists of twelve (12) members, notmore than six (6) of whom may be of the same political affiliation,appointed by the governor.
(b) At least one (1) member shall be appointed from eachcongressional district.
(c) A member of the foundation may not be an officer oremployee of:
(1) the United States, the state, or a political subdivision; or
(2) an agency of the United States, the state, or a politicalsubdivision.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-6
Term of members
Sec. 6. (a) The term of each member is four (4) years. A memberappointed to fill the unexpired term of a member serves until the endof the unexpired term.
(b) At the expiration of a member's term, the member may bereappointed.
(c) The term of each member begins July 1 and continues for four
(4) years. Three (3) terms begin each year.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-7
Chairman
Sec. 7. At the foundation's first meeting after June 30 of eachyear, the members shall select one (1) of the members to serve aschairman until the chairman's successor is selected.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-8
Director as advisor to foundation
Sec. 8. (a) The director of the department, or the director'sdesignee, is an advisor to the foundation.
(b) An advisor to the foundation may do the following:
(1) Attend all meetings of the foundation.
(2) Participate in all proceedings at foundation meetings otherthan voting.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-9
Purpose of foundation
Sec. 9. (a) The exclusive purpose of the foundation is to acquirereal and personal property to be donated under subsection (b).
(b) The foundation may donate real and personal property to thefollowing:
(1) The department, subject to subsection (c).
(2) Any unit of local government.
(c) The foundation must have the approval of the director todonate real or personal property to the state.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-10
Powers of foundation
Sec. 10. The foundation may do the following:
(1) Adopt bylaws for the regulation of the foundation's affairsand the conduct of the foundation's business.
(2) Adopt an official seal, which may not be the seal of thestate.
(3) Maintain a principal office and other offices the foundationdesignates.
(4) Sue and be sued in the name and style of "Indiana NaturalResources Foundation", with service of process being made tothe chairman of the foundation by leaving a copy at theprincipal office of the foundation or at the residence of thechairman if the foundation has no principal office.
(5) To exercise the powers or perform the duties of thefoundation, do the following:
(A) Acquire by any means except eminent domain a right oran interest in or upon real or personal property of any kind
or nature. The foundation shall hold the legal title toproperty acquired in the name of the foundation.
(B) Dispose of a right or an interest in real property.
(6) Make and enter into all contracts, undertakings, andagreements necessary or incidental to the performance of theduties and the execution of the powers of the foundation underthis chapter.
(7) Employ an executive director and other employees that arenecessary in the foundation's judgment and fix theircompensation.
(8) Conduct studies of the feasibility of certain natural resourceprojects and facilities.
(9) Receive and accept from any person grants for or in aid ofthe acquisition, construction, improvement, or development ofany part of the projects of the foundation and receive and acceptaid or contributions from any source of money, property, labor,or other things of value, to be held, used, applied, or disposedof only for the purposes consistent with the purposes of thischapter for which the grants and contributions may be made.
(10) Hold, use, administer, and expend money that may beacquired by the foundation.
(11) Do all acts and things necessary or proper to carry out thepowers expressly granted in this chapter.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-10.1
Code of ethics
Sec. 10.1. (a) The foundation shall:
(1) adopt:
(A) rules under IC 4-22-2; or
(B) a policy;
establishing a code of ethics for its employees; or
(2) decide it wishes to be under the jurisdiction and rulesadopted by the state ethics commission.
(b) A code of ethics adopted by rule or policy under this sectionmust be consistent with state law and approved by the governor.
As added by P.L.5-1996, SEC.12.
IC 14-12-1-11
Establishment of fund
Sec. 11. (a) The Indiana natural resources fund is established.Expenditures from the fund may be made only to carry out thepurposes of this chapter. The foundation shall do the following:
(1) Hold the fund in the name of the foundation.
(2) Administer the fund.
(3) Make all expenditures from the fund.
(b) Gifts of money to the fund or the foundation or the proceedsfrom the sale of gifts donated to the fund or the foundation shall bedeposited in the fund.
(c) The expenses of administering this chapter shall be paid from
money in the fund.
(d) The money in the fund at the end of a state fiscal year remainsin the fund and does not revert to any other fund. If the foundation isterminated, the money in the fund reverts to the department.
(e) The fund is subject to audit as if the foundation were a stateagency.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-11.1
Establishment and administration of forest restoration fund
Sec. 11.1. (a) The forest restoration fund is established.Expenditures from the fund may be made only to carry out thepurpose of restoration, conservation, and improvement of lands:
(1) classified as native forest land, forest plantations, orwildlands under IC 6-1.1-6; and
(2) approved by the state forester.
(b) The foundation shall do the following:
(1) Hold the fund in the name of the foundation.
(2) Administer the fund.
(3) Make all expenditures from the fund.
(c) Gifts of money to the fund or the proceeds from the sale ofgifts donated to the fund or the foundation shall be deposited in thefund.
(d) The expenses of administering this chapter shall be paid frommoney in the fund.
(e) The money in the fund at the end of a state fiscal year remainsin the fund and does not revert to any other fund. If the foundation isterminated, the money in the fund reverts to the department.
(f) The fund is subject to audit as if the foundation were a stateagency.
As added by P.L.66-2006, SEC.26.
IC 14-12-1-12
Property tax exemption
Sec. 12. The foundation is exempt from taxes on real or personalproperty the foundation acquires or disposes of or as a consequenceof the foundation's transactions.
As added by P.L.1-1995, SEC.5.
IC 14-12-1-13
Coordination of expenditures
Sec. 13. Expenditures from the fund shall be coordinated withexpenditures under the Indiana heritage trust program established byIC 14-12-2.
As added by P.L.1-1995, SEC.5.