Indiana Code 16-22-3-18.5. Conveyance of real or personal property to state authority for lease back to hospital
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Sec. 18.5. (a) Notwithstanding any requirement or restriction in this chapter on the transfer of real or personal property of the hospital, this section applies if the board determines to obtain financing for capital improvements through the state authority.
(b) The board may convey real or personal property of the hospital by sale or lease to the state authority for lease back to the hospital from the state authority.
As added by P.L.43-1993, SEC.13.
Terms Used In Indiana Code 16-22-3-18.5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
- Personal property: All property that is not real property.