Indiana § 36-1-10-5 Leases without option to purchase; procedure

Indiana Statutes

§ 36-1-10-5 — Leases without option to purchase; procedure

Indiana § 36-1-10-5

Title 36LOCAL GOVERNMENT

Art. 1GENERAL PROVISIONS

Ch. 10Leasing and Lease-Purchasing Structures

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Bluebook

Ind. Code § 36-1-10-5 (2026).

Text

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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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.