§ 20-47-3-3 — Powers; lease of school building; maximum term of lease; required terms of joint lease involving more than one school corporation

Indiana § 20-47-3-3

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

Text

(a) A school corporation may lease a school
building or buildings for the use of:
(1) the school corporation; or
(2) a joint or consolidated school district of which the school
corporation is a part or to which it contributes;
for a term not to exceed fifty (50) years.
(b) A school corporation may not enter into a lease under this
section unless the governing body, after investigation, determines that
a need exists for the school building.
(c) If two (2) or more school corporations propose to jointly enter
into a lease under this section, joint meetings of the governing bodies
of the school corporations may be held, but action taken at a joint
meeting is not binding on any of those school corporations unless
approved by a majority of the governing body of each of those school
corporations. A lease executed by two (2) or more school corporations
as joint lessees must:
(1) set out the amount of the total lease rental to be paid by each
lessee, which may be as agreed upon; and
(2) provide that:
(A) there is no right of occupancy by any lessee unless the total
rental is paid as stipulated in the lease; and
(B) all rights of joint lessees under the lease are in proportion
to the amount of lease rental paid by each lessee.
[Pre-2006 Recodification Citation: 21-5-12-1 part.]

Legislative History

As added by P.L.2-2006, SEC.170. Amended by P.L.233-2015, SEC.305.