Indiana Code 20-26-7.1-6. Responsibility for expenses or debt during lease
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Terms Used In Indiana Code 20-26-7.1-6
- charter school: has the meaning set forth in IC 20-24-1-4 and includes an entity that has filed an application with an authorizer and is seeking approval from the authorizer to operate a charter school under IC 20-24-3. See Indiana Code 20-26-7.1-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- covered school building: means a school building that is owned by a school corporation or any other entity that is related in any way to, or created by, the school corporation or the governing body, including a building corporation, and that has at any time been used for classroom instruction. See Indiana Code 20-26-7.1-2.1
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- state educational institution: has the meaning set forth in IC 21-7-13-32. See Indiana Code 20-26-7.1-2.3
Sec. 6. During the term of a lease under section 4 of this chapter, the charter school or state educational institution is responsible for the direct expenses related to the covered school building leased, including utilities, insurance, maintenance, repairs, and remodeling. If the lease involves co-locating charter schools or a co-location with a state educational institution, the obligations under the lease of the covered school building shall be joint and several. The school corporation is responsible for any debt incurred for or liens that attached to the covered school building before the charter school or state educational institution leased the covered school building.
As added by P.L.270-2019, SEC.13. Amended by P.L.155-2021, SEC.6; P.L.189-2023, SEC.20.