§ 36-9-30-24 — Lease with option to purchase facilities; terms and conditions

(a) A unit may enter into a lease with option
to purchase of solid waste disposal facilities inside or outside the
corporate boundaries of the unit. However, a lease with an option to
purchase may not be entered into for a term of more than thirty (30)
years unless:
(1) the lessor is a corporation organized under Indiana law or
admitted to do business in Indiana;
(2) a petition for the lease, signed by fifty (50) or more resident
taxpayers of the unit, has been filed with the board; and
(3) the board has, after investigation, determined that there is a
need for the facilities.
The terms and conditions of the option to purchase must be specified
in the lease.
(b) A lease under this section may provide that as a part of the lease
rental for the solid waste disposal facilities, the unit agrees to:
(1) pay all taxes and assessments levied against or on account of
the leased property;
(2) maintain insurance on the leased property for the benefit of
the lessor corporation; and
(3) assume all responsibilities for repair and alterations of the
leased property during the term of the lease.
[Pre-Local Government Recodification Citations: 19-2-1-20;
19-2-1-23.]
As added by Acts 1981, P.L.309, SEC.106.