Ind. Code ch. 12-24-18

in effect

Ind. Code § 12-24-18-1 Application of chapter to certain city

Sec. 1. This chapter applies to a city having a population of more than thirty-five thousand (35,000) and less than thirty-seven thousand (37,000). As added by P.L.147-1993, SEC.1. Amended by P.L.170-2002, SEC.82; P.L.119-2012, SEC.107; P.L.104-2022, SEC.78.

Ind. Code § 12-24-18-2 Applicability of chapter; conditions of real property

Sec. 2. This chapter applies only to real property that satisfies all of the following conditions: (1) The real property is owned by the state and under the control of a state institution. (2) The real property is undeveloped. (3) The executive of the city identifies the real property through a legal description of the property. (4) The state approves the legal description prepared under subdivision (3). As added by P.L.147-1993, SEC.1.

Ind. Code § 12-24-18-3 Conveyance or lease of property to city

Sec. 3. (a) Subject to this section, the state shall convey or lease the real property to the city. (b) The conveyance or lease required by this section may be made in one (1) or more transactions. (c) The city must use the real property for economic development projects. (d) The conveyance or lease shall be made under terms and for the consideration that is agreed upon between the city and the state. However, the terms must require that all payments made under the conveyance or lease must be made directly to and for the use of the state institution. As added by P.L.147-1993, SEC.1. Amended by P.L.120-1996, SEC.1.

Ind. Code § 12-24-18-4 Lease pending conveyance of real property

Sec. 4. The state may lease any of the real property to the city pending the conveyance of the real property under this chapter. As added by P.L.147-1993, SEC.1.

Ind. Code § 12-24-18-5 Contracts relating to lease or conveyance; cash rent of farm lands

Sec. 5. (a) The state may enter into appropriate contracts with the city related to the conveyance or lease of real property under this chapter. (b) A contract entered into under this section or a deed given to the city to convey any of the real property under this chapter may contain any provision that the state considers necessary if the provision is consistent with this chapter. (c) Notwithstanding any lease or conveyance authorized by this chapter, the state institution shall continue to cash rent the real property for farming purposes until the city actually begins development of the real property for an economic development project. As added by P.L.147-1993, SEC.1.

Ind. Code § 12-24-18-6 Laws relating to state contracts, leases, and conveyances; applicability; proceeds

Sec. 6. (a) Except as provided in this chapter, the procedures required by law for the state to: (1) enter into contracts affecting the state's real property; or (2) convey or lease the state's real property; apply to a contract, conveyance, or lease under this chapter. (b) Notwithstanding any other law, if the state sells or leases real property under this chapter, the proceeds from that sale or lease are reappropriated to the state institution. (c) The proceeds from the sale or lease of real property under this chapter may not reduce the amount of state appropriations otherwise available to the state institution. As added by P.L.147-1993, SEC.1. Amended by P.L.120-1996, SEC.2.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/12Fetched: 10/17/2026