Indiana § 36-10-11-16 - Lease; execution; notice; limitation on annual rental; transfer of net revenue
Full text of Indiana Indiana Code § 36-10-11-16 — Lease; execution; notice; limitation on annual rental; transfer of net revenue, with citation guidance and answers to common questions.
§ 36-10-11-16. Lease; execution; notice; limitation on annual rental; transfer of net revenue
Sec. 16. (a) The lease shall be executed on behalf of the governmental entity by an officer authorized by law to execute contracts for the entity and on behalf of the authority by both the president or vice president of the board and the secretary of the board of directors.
(b) Notice of the execution of the lease shall be given by the governmental entity by publication as provided in IC 5-3-1.
(c) A lease may not be executed with annual lease rental exceeding an aggregate of two hundred seventy-five thousand dollars ($275,000) unless the fiscal body of the lessee governmental entity finds that the estimated annual net income to the lessee governmental entity from the civic center, plus any other nonproperty tax funds made available annually for the payment of the lease rental, will not be less than the amount of the excess.
(d) All net revenues of the leased building, together with any other funds made available for the payment of lease rental, shall be transferred at least annually by the lessee to a fund for payment of lease rental.
As added by Acts 1982, P.L.218, SEC.5. Amended by P.L.73-1983, SEC.23; P.L.90-2002, SEC.525; P.L.197-2016, SEC.154.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-10-11-16
What does Indiana Code § 36-10-11-16 cover?
Section 36-10-11-16 ("Lease; execution; notice; limitation on annual rental; transfer of net revenue") 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 § 36-10-11-16?
A common citation format is "Indiana Code § 36-10-11-16" (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 § 36-10-11-16 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.