Indiana Statutes
§ 36-1-10-5 — Leases without option to purchase; procedure
Indiana·Title 36 LOCAL GOVERNMENT·Art. 1 GENERAL PROVISIONS·Ch. 10 Leasing and Lease-Purchasing Structures
Notwithstanding sections 6, 12, 16, and 17 of this chapter, the following procedure shall be followed whenever a lease does not contain an option to purchase:
(1)The lease must provide that the lease is subject to annual
appropriation by the appropriate fiscal body.
(2)The leasing agent must have a copy of the lease filed and kept
in a place available for public inspection.
A leasing agent may lease part of a structure.
[Local Government Recodification Citation: New.]
As added by Acts 1981, P.L.57, SEC.36. Amended by
P.L.131-1984, SEC.4; P.L.330-1985, SEC.1; P.L.90-2002, SEC.462;
P.L.174-2022, SEC.68.
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Nearby Sections
15
§ 36-1-10-1
Application of chapter§ 36-1-10-10
Plans, specifications, and estimates for structures, systems, and
transportation projects§ 36-1-10-11
Property held in fee simple; sale procedure§ 36-1-10-12
Lease in anticipation of acquisition or construction of structure, system,
or transportation project§ 36-1-10-13
Hearing; procedure; execution of lease§ 36-1-10-17
Annual appropriation and tax levy§ 36-1-10-18
Tax exemption of leased structures, systems, and transportation
projects; taxation of rental paid lessor§ 36-1-10-19
Assignment or conveyance of lease; conveyance of structure, system,
or transportation project§ 36-1-10-2
Definitions§ 36-1-10-20
Repealed