IC 20-47-4-5: Powers; lessor corporation; acquisition and financing of existing or improved school building

Sec. 5. A lessor corporation qualified or formed to acquire a site, erect a school building on the site, and lease the school building to a school corporation or the public education corporation under IC 20-47-2 or IC 20-47-3 may:

(1) be qualified or formed to acquire, improve, or expand an existing school building;

(2) acquire, improve, or expand an existing school building;

(3) finance an existing school building or improved school building; and

(4) lease an existing school building or improved school building to a school corporation or the public education corporation under applicable law.