Indiana Code 16-23-6-3. Authorization
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Sec. 3. If the city fiscal body determines by resolution adopted at a regular meeting that:
(2) it would be in the interests of the city to provide adequate hospital care and nursing for the sick, injured, and disabled by leasing the hospital grounds, buildings, equipment, and furnishings to the corporation;
(1) the city should not operate the hospital; and
Terms Used In Indiana Code 16-23-6-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
- Property: includes personal and real property. See Indiana Code 1-1-4-5
the city fiscal body may, on behalf of the city, authorize the execution of a lease with the corporation of the property to be operated as a hospital for not more than fifty (50) years, upon terms and conditions agreed upon by the fiscal body and the corporation.
[Pre-1993 Recodification Citation: 16-12.2-2-2.]
As added by P.L.2-1993, SEC.6.