§ 20-47-3-10 — Conduct of public hearing; lease authorization procedures

Indiana § 20-47-3-10

• Jurisdiction: Indiana
• Title 20: EDUCATION
• Art. 47: RELATED ENTITIES; HOLDING COMPANIES
• Ch. 3: Private 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) Not later than 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 lease as originally agreed upon;
or
(2) make modifications to the proposed lease as agreed upon with
the lessor corporation.
However, the lease rentals as set out in the published notice may not be
increased.
[Pre-2006 Recodification Citation: 21-5-12-7(a)
part.]

Legislative History

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