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 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 under applicable law. [Pre-2006 Recodification Citation: 21-5-9-2(a).]
As added by P.L.2-2006, SEC.170.