(1) involves as parties:

(B) an Indiana political subdivision and:

(i) a public instrumentality; or

(ii) a public corporate body;

created or authorized by state law;

(2) is approved by the fiscal body of each party that is an Indiana political subdivision either before or after the agreement is entered into by the executive of the party; and

(3) delegates to the treasurer or disbursing officer of one (1) of the parties that is an Indiana political subdivision the duty to receive, disburse, and account for all monies of the joint undertaking;

then the approval of the attorney general is not required.

     (b) This subsection does not apply to an agreement to which school corporations are the only parties. If subsection (a) does not apply, an agreement under section 3 of this chapter must be submitted to the attorney general for the attorney general’s approval. The attorney general shall approve the agreement unless the attorney general finds that it does not comply with the statutes, in which case the attorney general shall detail in writing for the parties the specific respects in which the agreement does not comply. If the attorney general fails to disapprove the agreement within sixty (60) days after it is submitted to the attorney general, it is considered approved.

[Pre-Local Government Recodification Citations: 18-5-1-4(f); 18-5-1.5-2(a); 18-5-1.5-3(c)(4) part; 18-5-1.5-3(d).]

As added by Acts 1980, P.L.211, SEC.1. Amended by P.L.221-2007, SEC.25; P.L.233-2015, SEC.327; P.L.26-2020, SEC.2.