§ 16-22-6-14 — Anticipatory lease

A county may, in anticipation of the
construction, erection, or renovation of a building, including the
necessary equipment and appurtenances, enter into a contract of lease
with the authority before the acquisition of a site and the construction,
erection, or renovation of the building. Rental payments under a
contract of lease may not commence until construction is completed
and the building is ready for occupancy. However, if a building is
acquired and renovated, a county may, in anticipation of the acquisition
and renovation, make and enter into a contract of lease upon terms and
conditions agreed upon by the county and the authority, including
terms and conditions permitting the county to continue to operate the
building until completion of the renovation and the payment of a lease
rental by the lessee during the period of renovation.
[Pre-1993 Recodification Citation: 16-12-20-11.]

Legislative History

As added by P.L.2-1993, SEC.5.