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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 17. (a) If a lease provides for the payment of lease rentals for a cumulative building fund, part or all of the cumulative building fund and the tax levied for the cumulative building fund may be committed and pledged to the payment of lease rental. To the extent the amount is insufficient to pay the lease rental, the lease must provide that the remaining lease rental be paid entirely from the net revenues of the hospital. As long as the lease remains in effect:
(1) the amount of the cumulative building fund committed and pledged may not be expended by the lessee for any other purpose; and
(2) the tax levy for that cumulative building fund may not be reduced or rescinded by the county council.
(b) If a lease provides for payment of lease rental as provided in this section, the approval of the county fiscal body is not required for the lease or the sale of land by the county to the authority under section 16 of this chapter.
Cite this article: FindLaw.com - Indiana Code Title 16. Health § 16-22-6-17 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-16-health/in-code-sect-16-22-6-17/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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