Indiana § 36-9-30-27 Lease with option to purchase facilities; lessor corporation; payment

Indiana Statutes

§ 36-9-30-27 — Lease with option to purchase facilities; lessor corporation; payment

Indiana § 36-9-30-27

Title 36LOCAL GOVERNMENT

Art. 9TRANSPORTATION AND PUBLIC WORKS

Ch. 30Solid Waste Collection and Disposal

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Bluebook

Ind. Code § 36-9-30-27 (2026).

Text

In anticipation of the acquisition of a site
and the construction and erection of solid waste disposal facilities,
including the necessary equipment and appurtenances, a unit may enter
into a lease with option to purchase with a lessor corporation, subject
to the approval of the department of local government finance. Such a
lease may not provide for the payment of any lease rental by the lessee
until the facilities are completed and ready for solid waste disposal.
The lessor corporation shall agree in the lease to furnish a bond
satisfactory to the lessee and conditioned upon final completion of the
facilities within the period specified in the lease, except for
unavoidable delays.
[Pre-Local Government Recodification Citation:
19-2-1-24.]
As added by Acts 1981, P.L.309, SEC.106. Amended 

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In anticipation of the acquisition of a site
and the construction and erection of solid waste disposal facilities,
including the necessary equipment and appurtenances, a unit may enter
into a lease with option to purchase with a lessor corporation, subject
to the approval of the department of local government finance. Such a
lease may not provide for the payment of any lease rental by the lessee
until the facilities are completed and ready for solid waste disposal.
The lessor corporation shall agree in the lease to furnish a bond
satisfactory to the lessee and conditioned upon final completion of the
facilities within the period specified in the lease, except for
unavoidable delays.
[Pre-Local Government Recodification Citation:
19-2-1-24.]
As added by Acts 1981, P.L.309, SEC.106. Amended by
P.L.90-2002, SEC.515.