Sec. 13. A municipal corporation that executes a lease under this chapter shall annually levy a special tax, in addition to other taxes authorized by law, sufficient to produce each year the necessary funds with which to pay the lease rental stipulated to be paid by the municipal corporation under the lease. A levy under this section shall be reviewed in accordance with IC 6-1.1-17. The first tax levy shall be made at the first annual tax levy period following the date of the execution of the lease. The first annual levy must be sufficient to pay the estimated amount of the first annual lease rental payment to be made under the lease.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-14-10-13.]
As added by P.L.1-2005, SEC.49. Amended by P.L.42-2018, SEC.58.
Structure Indiana Code
Chapter 10. Leasing of Library Property
36-12-10-1. Application of Chapter
36-12-10-2. Power to Lease Library Buildings; Conditions; Joint Lease Contracts
36-12-10-3. Authorized Purposes of Leases; Limitations on Profit; Disposition of Excess Funds
36-12-10-4. Provisions of Lease
36-12-10-5. Submission of Plans and Specifications to Certain State Agencies; Approval
36-12-10-6. Authorized Provisions of Lease; Payment of Taxes, Insurance, and Repairs
36-12-10-7. Leases in Anticipation of Completion of Building; Bond
36-12-10-8. Notice and Hearing on Terms and Conditions of Proposed Lease
36-12-10-10. Applicability; Title to Real Property; Sale; Procedure
36-12-10-12. General Obligation Bonds