§ 20-47-2-12 — Conduct of public hearing; lease authorization procedures

Indiana § 20-47-2-12

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 47: RELATED ENTITIES; HOLDING COMPANIES
• Ch. 2: Public Holding Companies

Text

(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 to a later date or
dates.
(b) Within thirty (30) days following the termination of the hearing,
the governing body or bodies of the school corporation or corporations
may by a majority vote of all members of the governing body or bodies:
(1) authorize the execution of the proposed lease as originally
agreed upon; or
(2) make modifications to the proposed lease that are agreed upon
with the lessor corporation.
However, the lease rentals as set out in the published notice may not be
increased in any modifications approved under subdivision (2).
[Pre-2006 Recodification Citation: 21-5-11-7(b).]

Legislative History

As added by P.L.2-2006, SEC.170.