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

Indiana Statutes

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

Indiana·Title 20 EDUCATION·Art. 47 RELATED ENTITIES; HOLDING COMPANIES;·Ch. 3 Private Holding Companies

(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

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(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.]

Indiana § 20-47-3-10 (Conduct of public hearing; lease authorization procedures) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.