CHAPTER 10.5. PURCHASE OF LAND OR STRUCTURES

IC 36-1-10.5
    Chapter 10.5. Purchase of Land or Structures

IC 36-1-10.5-1
Application of chapter
    Sec. 1. (a) Except as provided in subsection (b), this chapterapplies to:
        (1) political subdivisions; and
        (2) their agencies.
    (b) This chapter does not apply to the purchase of:
        (1) real property having a total price (including land andstructures, if any) of twenty-five thousand dollars ($25,000) orless;
        (2) airport land or structures under IC 8-22;
        (3) library land or structures under IC 36-12;
        (4) school land or structures under IC 20-47;
        (5) hospital land or structures by a hospital or health andhospital corporation established and operated under IC 16-22 orIC 16-23;
        (6) land or structures acquired for a road or street right-of-wayfor a federal-aid project funded in any part under 23 U.S.C. 101et seq.;
        (7) land or structures by redevelopment commissions underIC 36-7-14 or IC 36-7-15.1, or redevelopment authorities underIC 36-7-14.5; or
        (8) land by a municipally owned water utility, if:
            (A) the municipally owned water utility has performed orcontracted with another party to perform sampling anddrilling tests of the land; and
            (B) the sampling and drilling tests indicate the land haswater resources.
As added by P.L.336-1987, SEC.1. Amended by P.L.188-1988,SEC.4; P.L.114-1989, SEC.2; P.L.2-1993, SEC.197; P.L.221-1997,SEC.1; P.L.1-2005, SEC.233; P.L.2-2006, SEC.187; P.L.194-2007,SEC.11.

IC 36-1-10.5-2
"Parking facility" defined
    Sec. 2. As used in this chapter, "parking facility" refers to aparking facility as defined in IC 36-9-1.
As added by P.L.336-1987, SEC.1.

IC 36-1-10.5-3
"Purchasing agent" defined
    Sec. 3. As used in this chapter, "purchasing agent" means theboard or officer of a political subdivision or agency with the powerto purchase land or structures.
As added by P.L.336-1987, SEC.1.

IC 36-1-10.5-4 "Structure" defined
    Sec. 4. As used in this chapter, "structure" means:
        (1) a building used in connection with the operation of apolitical subdivision; or
        (2) a parking facility.
The term includes the site, equipment, and appurtenances to thebuilding or parking facility.
As added by P.L.336-1987, SEC.1.

IC 36-1-10.5-5
Purchase of land or structure; required procedures
    Sec. 5. A purchasing agent shall purchase land or a structure onlyafter compliance with the following procedures:
        (1) The fiscal body of the political subdivision shall pass aresolution to the effect that it is interested in making a purchaseof specified land or a structure.
        (2) The purchasing agent shall appoint two (2) appraisers toappraise the fair market value of the land or structure. Theappraisers must be professionally engaged in making appraisalsor be trained as an appraiser and licensed as a broker underIC 25-34.1.
        (3) The appraisers shall return their separate appraisals to thepurchasing agent within thirty (30) days after the date of theirappointment. The purchasing agent shall keep the appraisals onfile in the purchasing agent's office for five (5) years after theyare given to the purchasing agent.
        (4) The purchasing agent shall give a copy of both appraisals tothe fiscal body.
As added by P.L.336-1987, SEC.1.

IC 36-1-10.5-6
Limitation on purchase price
    Sec. 6. A purchasing agent may not purchase any land or structurefor a price greater than the average of the two (2) appraisals receivedunder section 5 of this chapter.
As added by P.L.336-1987, SEC.1.