§ 10-16-3-13 — Sale or conveyance of real property

(a) The state armory board may sell, lease,
convey, or otherwise dispose of any real property belonging to the state
and being under the charge and in the custody and possession of the
state armory board if, in the judgment of the state armory board:
(1) the real property can no longer be used for the purpose for
which it was acquired; and
(2) the conveyance provides a substantial public or military
benefit.
(b) The sale shall be made at public or private sale, after appropriate
publication, for the highest price to be obtained for the same. If the
state armory board takes bids in the sale of real property, the board
shall require a bid submitted by a trust (as defined in IC 30-4-1-1(a))
to identify all of the following:
(1) Each beneficiary of the trust.
(2) Each settlor empowered to revoke or modify the trust.
(c) All money derived from the sale, conveyance, or other
disposition of any real property shall be paid into the state treasury, but
may be used for the purchase of other real property for armory
purposes.
[Pre-2003 Recodification Citation: 10-2-2-18.]

Legislative History

As added by P.L.2-2003, SEC.7. Amended by P.L.38-2011, SEC.8.