Indiana § 20-47-4-6 - Powers; acquisition and financing of existing school building; compliance with other laws
Full text of Indiana Indiana Code § 20-47-4-6 — Powers; acquisition and financing of existing school building; compliance with other laws, with citation guidance and answers to common questions.
§ 20-47-4-6. Powers; acquisition and financing of existing school building; compliance with other laws
Sec. 6. (a) A lessor corporation may acquire and finance an existing school building, other than as provided in section 5 of this chapter, and lease the existing school building to a school corporation or the public education corporation. A school corporation or the public education corporation shall comply with:
(1) IC 20-47-2 or IC 20-47-3;
(2) the petition and remonstrance provisions under IC 6-1.1-20 (if required); and
(3) the local public question provisions under IC 6-1.1-20 (if required).
(b) A lease made under this section may provide for the payment of lease rentals by the school corporation or public education corporation for the use of the existing school building.
(c) Lease rental payments made under the lease do not constitute a debt of the school corporation or public education corporation for purposes of the Constitution of the State of Indiana.
(d) A new school building may be substituted for the existing school building under the lease if the substitution was included in the notices given under IC 20-47-2, IC 20-47-3, and IC 6-1.1-20. A new school building must be substituted for the existing school building upon completion of the new school building.
[Pre-2006 Recodification Citation: 21-5-9-2(b) part.]
As added by P.L.2-2006, SEC.170. Amended by P.L.146-2008, SEC.521; P.L.101-2026, SEC.59.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-47-4-6
What does Indiana Code § 20-47-4-6 cover?
Section 20-47-4-6 ("Powers; acquisition and financing of existing school building; compliance with other laws") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 20-47-4-6?
A common citation format is "Indiana Code § 20-47-4-6" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 20-47-4-6 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.