§ 16-22-6-26 — Sale of county land or building to authority; procedure

(a) A county desiring to erect or renovate a
building on land owned or to be acquired by the county may sell land
or a building, or both to the authority. Before the sale may take place,
the county executive, with the approval of the county fiscal body, shall
file a petition with the circuit court of the county requesting the
appointment of:
(1) one (1) disinterested freeholder of the county as an appraiser;
and
(2) two (2) disinterested appraisers licensed under IC 25-34.1;
who are residents of Indiana to determine the fair market value of the
land and buildings. One (1) of the appraisers described under
subdivision (2) must reside not more than fifty (50) miles from the
land. The appraisers shall fix the fair market value of the land and
buildings and report not more than two (2) weeks after the date of the
appraisers' appointment. The county may sell the land and buildings to
the authority for an amount not less than the amount fixed as the fair
market value by the appraisers. The amount shall be paid in cash upon
delivery of the deed by the county to the authority.
(b) If a cumulative building fund exists at the time of the sale under
IC 16-12-16 (before its repeal on July 1, 1993), IC 16-12.1-4-4 (before
its repeal on July 1, 1993), or IC 16-22-5, the proceeds from the sale
shall be placed in the fund. If a cumulative building fund does not exist
at the time of the sale, the proceeds from the sale shall be paid into the
county hospital fund and the principal and interest shall be used for the
purposes set forth in IC 16-22-5. A sale of land or buildings, or both,
by a county to the authority shall be authorized by the county executive
by an order entered in the official records of the county executive. The
deed shall be executed on behalf of the county by the county executive.
[Pre-1993 Recodification Citation: 16-12-20-16.]

Legislative History

As added by P.L.2-1993, SEC.5. Amended by P.L.113-2006, SEC.10.