Indiana Statutes
§ 36-10-11-14 — Lease; option to purchase
Indiana·Title 36 LOCAL GOVERNMENT·Art. 10 RECREATION, CULTURE, AND COMMUNITY·Ch. 11 Gary Building Authority
(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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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Repealed