Indiana Code 36-7-18-23. Authorities exempt from certain statutory requirements; trust bids, proposals, or quotations
(1) with regard to money received from municipalities or counties and derived from local tax levies;
Terms Used In Indiana Code 36-7-18-23
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(3) as otherwise provided by this chapter.
(b) A housing authority is not subject to statutes regarding appropriations by other public bodies.
(c) This subsection applies if a housing authority disposes of real property or awards a contract for the procurement of property by acceptance of bids, proposals, or quotations. A bid, proposal, or quotation submitted by a trust (as defined in IC 30-4-1-1(a)) must identify each:
(1) beneficiary of the trust; and
(2) settlor empowered to revoke or modify the trust.
[Pre-Local Government Recodification Citation: 18-7-11-8(i).]
As added by Acts 1981, P.L.309, SEC.37. Amended by P.L.336-1989(ss), SEC.53.