Sec. 4. A school corporation or corporations may enter into a lease or lease with option to purchase under this chapter only with:
(1) a corporation organized under Indiana law or admitted to do business in Indiana; or
(2) a religious organization (or the organization's agent) that is exempt from federal income taxation under Section 501 of the Internal Revenue Code.
[Pre-2006 Recodification Citation: 21-5-12-2.]
As added by P.L.2-2006, SEC.170.
Structure Indiana Code
Article 47. Related Entities; Holding Companies; Lease Agreements
Chapter 3. Private Holding Companies
20-47-3-4. Qualifications of Lessor Corporation
20-47-3-5. Required Terms of Lease Agreement; Option to Purchase
20-47-3-6. Lessor Corporation; Submission of Preliminary Plans
20-47-3-7. Permissible Provisions of Lease; Payment of Taxes; Insurance
20-47-3-8. Lease Preceding Acquisition of Land
20-47-3-9. Required Public Hearing; Notice of Lease Terms
20-47-3-10. Conduct of Public Hearing; Lease Authorization Procedures
20-47-3-11. Notice of Signing of Lease; Appeal
20-47-3-12. Limitation on Time to File Appeal
20-47-3-13. Acquisition of Land for Building Site; Sale to Lessor Corporation
20-47-3-14. Required Levy; Payment of Obligations
20-47-3-15. Exemption of Lessor Corporation Property From Taxes
20-47-3-17. Lessor Corporation; Sale of Bonds and Securities; Mortgage Bonds
20-47-3-18. Termination of Lease; Disposition of Surplus Revenues