Sec. 29. (a) The city hospital, city, or county desiring to erect buildings on land owned or acquired by the city hospital, city, or county may lease land to the authority for a nominal rental for the same period, including renewal periods, that the lessee proposes to lease the particular land or buildings to be constructed from the authority. The city hospital, city, or county may grant an option to the authority to purchase the land not more than six (6) months after the expiration of the lease from the authority on the land or buildings if the city hospital or lessee does not exercise an option to purchase the buildings within the terms of the lease. If the option price on the land is not fixed in the original lease, the price shall be determined by an appraisal made by:
(1) one (1) disinterested freeholder residing in the county; and
(2) two (2) disinterested appraisers licensed under IC 25-34.1;
who are residents of Indiana appointed by the judge of the circuit court. One (1) of the appraisers appointed under subdivision (2) must reside not more than fifty (50) miles from the land.
(b) A lease of land by the city hospital, city, or county must be authorized by the city legislative body, the county executive, or governing board of the hospital, respectively, and a resolution, an order, or an ordinance must be entered in the official records of the governing body. Authorization may be given before or concurrently with the authorization of the lease from the authority to the lessee. The authorization to lease land to the authority is contingent upon the authorization to lease land from the authority. The lease to the authority shall be executed on behalf of the following:
(1) The city by the city executive and the recording officer.
(2) The county by the county executive and auditor.
(3) The authority by the president or vice president and secretary of the governing board.
[Pre-1993 Recodification Citation: 16-12-20.5-17.]
As added by P.L.2-1993, SEC.5. Amended by P.L.113-2006, SEC.11.
Structure Indiana Code
Chapter 7. Hospital Building Authorities in County With Hospital Operated Under Ic 16-23-1
16-22-7-2. Governing Body Defined
16-22-7-3. Net Operating Revenue Defined
16-22-7-4. Recording Officer Defined
16-22-7-5. Creation of Authority; Resolution
16-22-7-6. Governing Board; Appointment; Terms
16-22-7-7. Disqualification or Removal of Appointee; Successor
16-22-7-8. Oath of Office of Director
16-22-7-9. Removal of Member From Office
16-22-7-10. Meetings of the Governing Board
16-22-7-11. Bylaws, Rules, and Regulations
16-22-7-12. Quorum; Reimbursement of Expenses
16-22-7-13. Conflicts of Interest
16-22-7-14. Preliminary Expenses
16-22-7-15. Authority to Finance and Construct Hospital Building
16-22-7-16. Powers of Governing Board
16-22-7-17. Leasing Land and Buildings for Hospital
16-22-7-18. Time for Making Leases
16-22-7-19. Source of Lease Rental Payments
16-22-7-20. Cumulative Building Fund as Lease Rental Payment Source
16-22-7-21. Notice and Hearing on Proposed Lease
16-22-7-22. Authorization and Execution of Lease
16-22-7-24. Notice and Hearing on Objections
16-22-7-25. Time to Contest or Enjoin Lease
16-22-7-28. Approval of Plans and Specifications
16-22-7-30. Sale of Land to Authority by Hospital, Municipality, or County
16-22-7-31. Issuance of Revenue Bonds by Authority
16-22-7-32. Nature of Revenue Bonds
16-22-7-33. Execution of Bonds
16-22-7-34. Terms of Bond Sale
16-22-7-35. Disposition of Bond Proceeds
16-22-7-36. Security for Bonds; Trust Indenture
16-22-7-37. Tax Levy for Lease Rental Payments
16-22-7-38. Lease Rentals Payable Solely From Hospital Revenues
16-22-7-39. Exemptions From State Taxation
16-22-7-40. Audit of Funds; Bond of Officers and Employees
16-22-7-41. Liquidation of Authority
16-22-7-42. Remodeling and Additions to Hospital
16-22-7-43. Party Wall or Other Agreements for Attaching Additions