Section 36-1-10-7 - Lease of a structure, transportation system, or system by a political subdivision other than a school corporation(a) As used in this section, "threshold amount" means two hundred fifty thousand dollars ($250,000).(b) This section does not apply if the total annual cost of the lease is less than the threshold amount.(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.
Amended by P.L. 257-2019,SEC. 95, eff. 1/1/2019.Amended by P.L. 233-2015, SEC. 329, eff. 7/1/2015.As added by Acts1981 , 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.