Indiana § 36-10-11-14 Lease; option to purchase

Indiana Statutes

§ 36-10-11-14 — Lease; option to purchase

Indiana § 36-10-11-14

Title 36LOCAL GOVERNMENT

Art. 10RECREATION, CULTURE, AND COMMUNITY

Ch. 11Gary Building Authority

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Bluebook

Ind. Code § 36-10-11-14 (2026).

Text

(a)An option to purchase on the dates of each year fixed in the lease, before the expiration of the lease, may also be included in the original lease. The price must be computed by a method set out in the lease. The option may be given to one (1) or more lessees acting jointly or severally.

(b)A lease may not obligate a governmental entity to purchase the leased building or pay creditors or bondholders of the authority. As added by Acts 1982, P.L.218, SEC.5.

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(a) An option to purchase on the dates of
each year fixed in the lease, before the expiration of the lease, may also
be included in the original lease. The price must be computed by a
method set out in the lease. The option may be given to one (1) or more
lessees acting jointly or severally.
(b) A lease may not obligate a governmental entity to purchase the
leased building or pay creditors or bondholders of the authority.
As added by Acts 1982, P.L.218, SEC.5.