Indiana Code Title 16. Health § 16-23-1-46

Sec. 46. (a) This section applies to the sale of real property by the governing board.

(b) If real property is sold by acceptance of bids, a bid submitted for the property by a trust (as defined in IC 30-4-1-1(a)) must identify the following:

(c) The governing board may lease from others real or personal property, with or without an option to purchase, on terms and conditions and for times the board of directors considers reasonable.

(d) The governing board may borrow money and may secure the loan by a pledge of amounts from the cumulative building fund or other security.  The loan may be made for a term of up to twenty (20) years.