20-47-3-1. Application
Sec. 1. This chapter does not apply to a charter school. [Pre-2006 Recodification Citation: 21-2-15-3 part.] As added by P.L.2-2006, SEC.170.
20-47-3-1. Application
Sec. 1. This chapter does not apply to a charter school. [Pre-2006 Recodification Citation: 21-2-15-3 part.] As added by P.L.2-2006, SEC.170.
20-47-3-10. Conduct of Public Hearing; Lease Authorization Procedures
Sec. 10. (a) At the hearing, all interested persons have a right to be heard upon the necessity for the execution of the proposed lease and whether the rental to be paid to the lessor corporation under the proposed lease is a fair and reasonable rental for the proposed building. The hearing may be adjourned […]
20-47-3-10. Conduct of Public Hearing; Lease Authorization Procedures
Sec. 10. (a) At the hearing, all interested persons have a right to be heard upon the necessity for the execution of the proposed lease and whether the rental to be paid to the lessor corporation under the proposed lease is a fair and reasonable rental for the proposed building. The hearing may be adjourned […]
20-47-3-11. Notice of Signing of Lease; Appeal
Sec. 11. (a) If the execution of the lease as originally agreed upon or as modified by agreement is authorized by the governing body or bodies of the school corporation or corporations, the governing body shall give notice of the signing of the lease by publication one (1) time in: (1) a newspaper of general […]
20-47-3-11. Notice of Signing of Lease; Appeal
Sec. 11. (a) If the execution of the lease as originally agreed upon or as modified by agreement is authorized by the governing body or bodies of the school corporation or corporations, the governing body shall give notice of the signing of the lease by publication one (1) time in: (1) a newspaper of general […]
20-47-3-12. Limitation on Time to File Appeal
Sec. 12. An action to contest the validity of the lease or to enjoin the performance of any of the terms and conditions of the lease may not be instituted at any time later than: (1) thirty (30) days after publication of notice of the execution of the lease by the governing body or bodies […]
20-47-3-12. Limitation on Time to File Appeal
Sec. 12. An action to contest the validity of the lease or to enjoin the performance of any of the terms and conditions of the lease may not be instituted at any time later than: (1) thirty (30) days after publication of notice of the execution of the lease by the governing body or bodies […]
20-47-3-13. Acquisition of Land for Building Site; Sale to Lessor Corporation
Sec. 13. The lessor corporation shall acquire, own, and hold in fee simple the land on which a school building or buildings are to be erected under this chapter. A school corporation that proposes to lease a school building, either alone or jointly with another school corporation, and owns the land on which it desires […]
20-47-3-13. Acquisition of Land for Building Site; Sale to Lessor Corporation
Sec. 13. The lessor corporation shall acquire, own, and hold in fee simple the land on which a school building or buildings are to be erected under this chapter. A school corporation that proposes to lease a school building, either alone or jointly with another school corporation, and owns the land on which it desires […]
20-47-3-14. Required Levy; Payment of Obligations
Sec. 14. A school corporation that executes a lease under this chapter shall annually appropriate and pay out of the debt service fund an amount sufficient to pay the lease rental required under the lease. The appropriation and rate are reviewable by other bodies vested by law with the authority to determine that the levy […]
20-47-3-14. Required Levy; Payment of Obligations
Sec. 14. A school corporation that executes a lease under this chapter shall annually appropriate and pay out of the debt service fund an amount sufficient to pay the lease rental required under the lease. The appropriation and rate are reviewable by other bodies vested by law with the authority to determine that the levy […]
20-47-3-15. Exemption of Lessor Corporation Property From Taxes
Sec. 15. School buildings leased by a lessor corporation entering into a lease with a school corporation or corporations under this chapter are exempt from all state, county, and other taxes. However, the rental payments to a lessor corporation under the terms of such a lease are subject to all applicable taxes under Indiana law. […]
20-47-3-15. Exemption of Lessor Corporation Property From Taxes
Sec. 15. School buildings leased by a lessor corporation entering into a lease with a school corporation or corporations under this chapter are exempt from all state, county, and other taxes. However, the rental payments to a lessor corporation under the terms of such a lease are subject to all applicable taxes under Indiana law. […]
20-47-3-16. Statutory Construction; Supplemental Legislation; Limitation of Application of Other Laws
Sec. 16. This chapter shall be construed as being supplemental to all other laws covering the acquisition, use, and maintenance of school buildings by school corporations. However, as to school buildings constructed or leased under this chapter, it is not necessary to comply with the provisions of other laws concerning the acquisition, use, and maintenance […]
20-47-3-16. Statutory Construction; Supplemental Legislation; Limitation of Application of Other Laws
Sec. 16. This chapter shall be construed as being supplemental to all other laws covering the acquisition, use, and maintenance of school buildings by school corporations. However, as to school buildings constructed or leased under this chapter, it is not necessary to comply with the provisions of other laws concerning the acquisition, use, and maintenance […]
20-47-3-17. Lessor Corporation; Sale of Bonds and Securities; Mortgage Bonds
Sec. 17. (a) A corporation qualifying as a lessor corporation under this chapter may issue and sell bonds and other securities. Mortgage bonds issued by a lessor corporation that are a first lien on the leased property are legal and proper investments for state banks and trust companies, insurance companies, and fiduciaries. (b) Bonds and […]
20-47-3-17. Lessor Corporation; Sale of Bonds and Securities; Mortgage Bonds
Sec. 17. (a) A corporation qualifying as a lessor corporation under this chapter may issue and sell bonds and other securities. Mortgage bonds issued by a lessor corporation that are a first lien on the leased property are legal and proper investments for state banks and trust companies, insurance companies, and fiduciaries. (b) Bonds and […]
20-47-3-18. Termination of Lease; Disposition of Surplus Revenues
Sec. 18. (a) Upon the termination of a lease entered into under this chapter, the lessor corporation shall return to the school corporation any money held by the lessor corporation that exceeds the amount needed to retire bonds issued under this chapter and to dissolve the lessor corporation. (b) A school corporation shall deposit the […]
20-47-3-18. Termination of Lease; Disposition of Surplus Revenues
Sec. 18. (a) Upon the termination of a lease entered into under this chapter, the lessor corporation shall return to the school corporation any money held by the lessor corporation that exceeds the amount needed to retire bonds issued under this chapter and to dissolve the lessor corporation. (b) A school corporation shall deposit the […]