Section 20-26-7-1 - Sale or exchange of unneeded property(a) Except as otherwise provided in IC 20-26-7.1, if a governing body of a school corporation determines that any real or personal property: (1) is no longer needed for school purposes; or(2) should, in the interests of the school corporation, be exchanged for other property; the governing body may sell or exchange the property in accordance with IC 36-1-11.
(b) Money derived from the sale or exchange of property under this section shall be placed in the school corporation's operations fund.(c) A governing body may not enter into a lease agreement or make a covenant that prohibits the sale of real property to another educational institution.Pre-2005 Elementary and Secondary Education Recodification Citation: 20-5-5-1.
Amended by P.L. 270-2019,SEC. 12, eff. 5/5/2019.Amended by P.L. 140-2018,SEC. 6, eff. 1/1/2019.Amended by P.L. 140-2018,SEC. 5, eff. 3/19/2018.Amended by P.L. 244-2017,SEC. 46, eff. 1/1/2019.Amended by P.L. 217-2017,SEC. 100, eff. 4/27/2017.Amended by P.L. 241-2017,SEC. 17, eff. 4/28/2017.Amended by P.L. 5-2015, SEC. 47, eff. 4/15/2015.Amended by P.L. 33-2014, SEC. 4, eff. 7/1/2014.Amended by P.L. 17-2013, SEC. 1, eff. 4/1/2013, retroactive.Amended by P.L. 91-2011, SEC. 27, eff. 7/1/2011.As added by P.L. 1-2005, SEC.10. Amended by P.L. 234-2007, SEC.227.