Indiana § 36-10-11-13 Lease to governmental entity of property controlled by authority;
sublease; term; renewal

Indiana Statutes

§ 36-10-11-13 — Lease to governmental entity of property controlled by authority; sublease; term; renewal

Indiana·Title 36 LOCAL GOVERNMENT·Art. 10 RECREATION, CULTURE, AND COMMUNITY·Ch. 11 Gary Building Authority

(a)A governmental entity within the county and the authority may enter into a lease for all or part of a building under the control of the authority. A governmental entity may also sublease the leased premises to other governmental entities within the county.

(b)A lease may be entered into before the actual acquisition of a site and the construction of the building. A lease may not provide for the payment of any lease rental by the lessee until the building is ready for occupancy.

(c)A lease or sublease may not be for a period longer than forty (40) years, but may be renewed for a maximum of forty (40) years. An option to renew may be included in the original lease. As added by Acts 1982, P.L.218, SEC.5.

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(a) A governmental entity within the county
and the authority may enter into a lease for all or part of a building
under the control of the authority. A governmental entity may also
sublease the leased premises to other governmental entities within the
county.
(b) A lease may be entered into before the actual acquisition of a
site and the construction of the building. A lease may not provide for
the payment of any lease rental by the lessee until the building is ready
for occupancy.
(c) A lease or sublease may not be for a period longer than forty (40)
years, but may be renewed for a maximum of forty (40) years. An
option to renew may be included in the original lease.
As added by Acts 1982, P.L.218, SEC.5.

Indiana § 36-10-11-13 (Lease to governmental entity of property controlled by authority; sublease; term; renewal) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.