Indiana Code § 36-1-10.5-6

Limitation on purchase price
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Sec. 6. A purchasing agent may not purchase any land or structure for a price greater than the average of the two (2) appraisals received under section 5 of this chapter.   IC 36-1-11 Chapter 11. Disposal of Real or Personal Property               36-1-11-1 Application of chapter             36-1-11-2 Definitions             36-1-11-3 Approval             36-1-11-3.1 Sale of residential real property; disapproval             36-1-11-3.2 Approval of sale, lease, or transfer of real property in certain cities             36-1-11-4 Sale or transfer of real property; procedure             36-1-11-4.1 Sale or transfer of real property, including provision for leaseback; notice; bids             36-1-11-4.2 Sale or transfer of real property not acquired through eminent domain to promote an economic development project or facilitate compatible land use planning             36-1-11-4.3 Public easement or right-of-way             36-1-11-5 Sale of property having certain value or previously part of right-of-way; rights of abutting landowners; procedures             36-1-11-5.5 School corporations; sale or transfer of real property or tangible or intangible personal property or licenses             36-1-11-5.6 Sale or transfer of property to a nonprofit corporation             36-1-11-5.7 Sale or transfer of real property or tangible or intangible personal property or licenses to volunteer fire department, fire protection district, or fire protection territory             36-1-11-5.9 Sale or transfer of real property acquired by tax default; rights of abutting landowners; procedures             36-1-11-6 Repealed             36-1-11-7 Exchange of property with persons other than governmental entity; procedure             36-1-11-8 Exchange of property with governmental entity             36-1-11-9 Trade or exchange as part of purchase price of new property             36-1-11-10 Lease of property; procedure             36-1-11-10.5 Lease of a parkway strip, sidewalk, tree row, or verge             36-1-11-11 Execution of deed or other instrument             36-1-11-12 Lease of property; alternative procedure             36-1-11-13 Restrictions on lease of county-owned property             36-1-11-14 Gift of tract; reconveyance             36-1-11-15 Tract transferred as gift by not-for-profit corporation or organization; reconveyance             36-1-11-16 Bid, purchase, receipt, or lease of property by ineligible persons; effect of ineligibility             36-1-11-17 Terms of reconveyance or return             36-1-11-18 School corporations in LaPorte County; transfer to governmental agency

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