§ 36-9-24-7 — Proposed leases; notice and hearing

(a) When a municipality and a lessor agree on
the terms and conditions of a lease proposed to be entered into under
this chapter, notice of a hearing to be held before the municipal
legislative body shall be given to all interested persons by publication
in accordance with IC 5-3-1. The notice must name the date, place, and
hour of the hearing, and set forth a summary of the principal terms of
the lease agreed upon, including the name of the lessor, the character
of the property to be leased, the lease rental to be paid, and the number
of years the lease is to be in effect.
(b) The date of the hearing may not be less than twenty (20) days
after publication of the notice.
(c) The proposed lease shall be kept available for inspection by the
public before and at the hearing.
(d) At the hearing, all interested persons are entitled to be heard as
to the necessity for the execution of the lease and whether the rental to
be paid to the proposed lessor under the lease is a fair and reasonable
rental for the facilities. The hearing may be adjourned to a later date or
dates.
(e) After the hearing, the municipal legislative body may authorize
the execution of the lease as originally agreed on, or may, with the
consent of the proposed lessor, modify the lease. However, the lease
rental as set out in the published notice may not be increased without
a new notice and hearing.
[Pre-Local Government Recodification Citation:
19-2-5.5-6.]
As added by Acts 1981, P.L.309, SEC.97. Amended by Acts
1981, P.L.45, SEC.63; P.L.186-1988, SEC.4.