Indiana Statutes
§ 36-9-24-4 — Maximum duration; options to renew
Indiana·Title 36 LOCAL GOVERNMENT·Art. 9 TRANSPORTATION AND PUBLIC WORKS·Ch. 24 Leasing of Sewage Disposal Facilities
The term of a lease under this chapter may not
exceed fifty (50) years. However, the lease must provide that the
municipality has an option to renew the lease for a further term on
similar conditions.
[Pre-Local Government Recodification Citation: 19-2-5.5-3
part.]
As added by Acts 1981, P.L.309, SEC.97.
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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Repealed