§ 16-23-1-46 — Sale of real property; trust bids; lease of real and personal property; loans

Indiana § 16-23-1-46

• Jurisdiction: Indiana
• Title 16: HEALTH
• Art. 23: MUNICIPAL AND OTHER TYPES OF
• Ch. 1: City Hospitals in Third Class Cities

Text

(a) This section applies to the sale of real
property by the governing board.
(b) If real property is sold by acceptance of bids, a bid submitted for
the property by a trust (as defined in IC 30-4-1-1(a)) must identify the
following:
(1) Each beneficiary of the trust.
(2) Each settlor empowered to revoke or modify the trust.
(c) The governing board may lease from others real or personal
property, with or without an option to purchase, on terms and
conditions and for times the board of directors considers reasonable.
(d) The governing board may borrow money and may secure the
loan by a pledge of amounts from the cumulative building fund or other
security. The loan may be made for a term of up to twenty (20) years.
[Pre-1993 Recodification Citation: 16-12.2-5-25.5.]

Legislative History

As added by P.L.2-1993, SEC.6.