(a) Except as provided in subsection (b), a leasing agent may not lease a structure, transportation project, or system unless:

1. (1) the leasing agent receives a petition signed by fifty (50) or more taxpayers of the political subdivision or agency; and
2. (2) the fiscal body of the political subdivision determines, after investigation, that the structure, transportation project, or system is needed.

(b) This subsection applies only to a school corporation. A leasing agent may not lease a structure, transportation project, or system unless the governing body of the school corporation determines, after investigation, that the structure, transportation project, or system is needed.

[Pre-Local Government Recodification Citation: 18-5-3.3-1 part.]

As added by Acts 1981, P.L.57, SEC.36. Amended by P.L.330-1985, SEC.2; P.L.37-1988, SEC.12; P.L.343-1989(ss), SEC.15; P.L.233-2015, SEC.329.