Termination of lease; disposition of surplus revenues

Ind. Code § 20-47-2-23
in effect
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Sec. 23. (a) Upon the termination of a lease entered into under this chapter, the lessor corporation shall return to the school corporation or the public education corporation any money held by the lessor corporation that exceeds the amount needed to retire bonds issued under this chapter and to dissolve the lessor corporation. (b) A school corporation or the public education corporation shall deposit the money received under subsection (a) in its debt service fund or operations fund. [Pre-2006 Recodification Citation: 21-5-11-17.] As added by P.L.2-2006, SEC.170. Amended by P.L.244-2017, SEC.109; P.L.101-2026, SEC.40.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/20Fetched: 10/17/2026

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