Sec. 5.5. Real property that is held under IC 36-7-17 or IC 36-7-17.1 and that is conveyed by contract with retention of the deed by the city is deemed to be the property of the city held for municipal purposes and is exempt from property taxation.
Formerly: Acts 1975, P.L.195, SEC.4. As amended by Acts 1981, P.L.11, SEC.22; P.L.118-2013, SEC.3.