Section 20-47-4-5 - Powers; lessor corporation; acquisition and financing of existing or improved school building A lessor corporation qualified or formed to acquire a site, erect a school building on the site, and lease the school building to a school corporation under IC 20-47-2 or IC 20-47-3 may:
(1) be qualified or formed to acquire, improve, or expand an existing school building;(2) acquire, improve, or expand an existing school building;(3) finance an existing school building or improved school building; and(4) lease an existing school building or improved school building to a school corporation under applicable law.Pre-2006 Recodification Citation: 21-5-9-2(a).
As added by P.L. 2-2006, SEC.170.