Section 20-47-3-18 - Termination of lease; disposition of surplus revenues(a) Upon the termination of a lease entered into under this chapter, the lessor corporation shall return to the school corporation any money held by the lessor corporation that exceeds the amount needed to retire bonds issued under this chapter and to dissolve the lessor corporation.(b) A school corporation shall deposit the money received under subsection (a) in its debt service fund or its operations fund.Pre-2006 Recodification Citation: 21-5-12-13.
Amended by P.L. 244-2017,SEC. 110, eff. 1/1/2019.As added by P.L. 2-2006, SEC.170.