IC 20-47-3-18 — Termination of lease; disposition of surplus revenues
Chapter 3. Private Holding Companies
Bills amending this section
Section text
Sec. 18. (a) Upon the termination of a lease entered into under this chapter, the lessor corporation shall return to the school corporation or 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 its operations fund.
As added by P.L.2-2006, SEC.170. Amended by P.L.244-2017, SEC.110; P.L.101-2026, SEC.55.
Source: official publisher (2026 edition)