Indiana Code
Chapter 10. Leasing and Lease-Purchasing Structures
36-1-10-13. Hearing; Procedure; Execution of Lease

Sec. 13. (a) After the leasing agent and the lessor have agreed upon the terms and conditions of the lease but before the execution of the lease, the leasing agent shall publish notice, in accordance with IC 5-3-1, of a public hearing to be held before the leasing agent. The cost of the publication of the notice shall be paid by the lessor. Notice of the hearing must be given at least ten (10) days before the hearing is held.
(b) The notice must state the date, place, and hour of the hearing and provide a summary of the principal terms of the lease. Additionally, the notice must contain the name of the proposed lessor, the location and character of the structure, transportation project, or system to be leased, the rental to be paid, and the number of years the lease is to be in effect.
(c) The proposed lease, drawings, plans, specifications, and estimates for the structure, or description and cost estimate of the transportation project or system, are open to public inspection during the ten (10) day period and at the hearing.
(d) All persons are entitled to be heard at the hearing as to whether the execution of the lease is necessary and whether the rental is fair and reasonable for the proposed structure or system. After the hearing, which may be adjourned from time to time, the leasing agent may modify, confirm, or rescind the proposed lease, but the rental as set out in the published notice may not be increased. The leasing agent may rely on the testimony of independent experts as to the fairness and reasonableness of the lease.
(e) If the execution of the lease as originally agreed upon or as modified is authorized by the leasing agent, the leasing agent shall give notice of the execution of the lease by publication in accordance with IC 5-3-1.
[Pre-Local Government Recodification Citation: 18-5-3.3-7 part.]
As added by Acts 1981, P.L.57, SEC.36. Amended by P.L.74-1987, SEC.20; P.L.37-1988, SEC.16; P.L.343-1989(ss), SEC.19; P.L.25-1995, SEC.82.

Structure Indiana Code

Indiana Code

Title 36. Local Government

Article 1. General Provisions

Chapter 10. Leasing and Lease-Purchasing Structures

36-1-10-1. Application of Chapter

36-1-10-2. Definitions

36-1-10-3. Persons Entitled to Lease Property to Political Subdivision or Agency

36-1-10-4. Repealed

36-1-10-4.1. Leasing Agents; Compliance With Chapter; Procedure in Lease Without Option to Purchase

36-1-10-5. Leases Without Option to Purchase; Procedure

36-1-10-6. Limitation on Term of Lease

36-1-10-7. Lease of a Structure, Transportation System, or System by a Political Subdivision Other Than a School Corporation

36-1-10-7.5. Lease of a Structure, Transportation System, or System by a School Corporation

36-1-10-8. Joint Leasing

36-1-10-9. Leases; Terms and Conditions; Options to Renew or Purchase; Exercise of Option to Purchase

36-1-10-10. Plans, Specifications, and Estimates for Structures, Systems, and Transportation Projects

36-1-10-11. Property Held in Fee Simple; Sale Procedure

36-1-10-12. Lease in Anticipation of Acquisition or Construction of Structure, System, or Transportation Project

36-1-10-13. Hearing; Procedure; Execution of Lease

36-1-10-14. Disagreement With Execution of Lease; Petition; Hearing; Decision

36-1-10-15. Actions to Contest Validity of Lease or to Enjoin Performance Under Lease

36-1-10-16. Conveyance of Structure to Lessor and Lease Back; Purchase Price; Option to Purchase

36-1-10-17. Annual Appropriation and Tax Levy

36-1-10-18. Tax Exemption of Leased Structures, Systems, and Transportation Projects; Taxation of Rental Paid Lessor

36-1-10-19. Assignment or Conveyance of Lease; Conveyance of Structure, System, or Transportation Project

36-1-10-20. Repealed

36-1-10-20.1. Repealed

36-1-10-21. Not-for-Profit Corporations; Issuance and Sale of Bonds and Other Securities

36-1-10-22. Certain Leases Legalized and Validated