Sec. 2. If a building or buildings that have been leased under IC 20-47-2 are located in the territory annexed or acquired, as described in section 1 of this chapter: (1) the school corporation acquiring the territory: (A) shall pay the full amount of the lease rental payments due after the territory is annexed or acquired in accordance with the terms of the lease; and (B) succeeds to and possesses all the rights and is subject to the obligations of the lessee under the lease, including the right of occupancy and use of the building; and (2) all rights and obligations of the lessee school corporation named in the lease terminate. [Pre-2006 Recodification Citation: 21-5-10-2.] IC 20-47-6 Chapter 6. Repealed IC 20-48 ARTICLE 48. BORROWING AND BONDS Ch. 1. Borrowing and Bonds Ch. 2. Borrowing; School Towns and School Cities Ch. 3. Borrowing; Indianapolis Public Schools Ch. 4. Township School Building IC 20-48-1 Chapter 1. Borrowing and Bonds 20-48-1-1 Powers; conditions and issuance of bonds; improvement of real estate 20-48-1-2 Powers; issuance of bonds; retirement or severance liability 20-48-1-2.5 Status of bonds issued under prior statute; debt service levies, property tax levies 20-48-1-3 Payment schedule; maximum term; designee of paying agent 20-48-1-4 Conditions of sale; par value; public sale; negotiated sale; interest rate; approval required for certain bonds 20-48-1-5 Signatures; issuing party 20-48-1-6 Required debt service fund levy; payment of obligations 20-48-1-7 Emergency loans 20-48-1-8 Bonds; emergency loans; compliance with other laws 20-48-1-9 Anticipation warrants 20-48-1-10 Temporary transfers among funds 20-48-1-11 Annual review of obligations; department of local government finance; increase in levy to pay obligations; intercept of state distributions to pay obligations 20-48-1-12 Status of bonds issued under prior statute; debt service levies, property tax levies 20-48-1-13 Sale of certain refunding bonds
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.