Sec. 7. (a) As used in this section, “threshold amount” means two hundred fifty thousand dollars ($250,000).
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Terms Used In Indiana Code 36-1-10-7
- 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
- Leasing agent: means the board or officer of a political subdivision or agency with the power to lease structures. See Indiana Code 36-1-10-2
- Structure: means :
Indiana Code 36-1-10-2
- System: means :
Indiana Code 36-1-10-2
- Transportation project: means a road or highway project jointly undertaken by the Indiana department of transportation and any county through which a toll road project under IC 8-15-2 passes. See Indiana Code 36-1-10-2
(c) A leasing agent for a political subdivision, other than a school corporation, may not lease a structure, transportation project, or system unless:
(1) the leasing agent receives a petition signed by fifty (50) or more taxpayers of the political subdivision or agency; and
(2) the fiscal body of the political subdivision determines, after investigation, that the structure, transportation project, or system is needed.
[Pre-Local Government Recodification Citation: 18-5-3.3-1 part.]
As added by Acts 1981, P.L.57, SEC.36. Amended by P.L.330-1985, SEC.2; P.L.37-1988, SEC.12; P.L.343-1989(ss), SEC.15; P.L.233-2015, SEC.329; P.L.257-2019, SEC.95.
