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Ind. Code § 12-24-18-6

Laws relating to state contracts, leases, and conveyances; applicability; proceeds

As added by P.L.147-1993, SEC.1

Sec. 6. (a) Except as provided in this chapter, the procedures required by law for the state to:

(1) enter into contracts affecting the state's real property; or

(2) convey or lease the state's real property;

apply to a contract, conveyance, or lease under this chapter.

(b) Notwithstanding any other law, if the state sells or leases real property under this chapter, the proceeds from that sale or lease are reappropriated to the state institution.

(c) The proceeds from the sale or lease of real property under this chapter may not reduce the amount of state appropriations otherwise available to the state institution.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.