Ind. Code § 36-1-10-7
Lease of a structure, transportation system, or system by a political subdivision other than a school corporation
Redline — January 1, 2018 → current.View current text →
Current — January 1, 2023
As of January 1, 2018
Sec. 7. (a) As used in this section, "threshold amount" means two hundred fifty thousand dollars ($250,000).
(b) This section does not apply if the total annual cost of the lease is less than the threshold amount.
(c) A leasing agent for a political subdivision, other than a school corporation, may not lease a structure, transportation project, or system unless:
(1) the leasing agent receives a petition signed by fifty (50) or more taxpayers of the political subdivision or agency; and
(1) the leasing agent receives a petition signed by fifty (50) or more taxpayers of the political subdivision or agency; and
(2) the fiscal body of the political subdivision determines, after investigation, that the structure, transportation project, or system is needed.
(2) the fiscal body of the political subdivision determines, after investigation, that the structure, transportation project, or system is needed.
(b) This subsection applies only to a school corporation. A leasing agent may not lease a structure, transportation project, or system unless the governing body of the school corporation determines, after investigation, that the structure, transportation project, or system is needed.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.