§ 4-20.5-5-7 — Newly leased facilities; lease conditions

Indiana § 4-20.5-5-7

• Jurisdiction: Indiana
• Art. 20.5: STATE REAL PROPERTY
• Ch. 5: Office Space, Storage Space, and Other Facilities

Text

(a) If an agency's needs cannot be met under
section 6 of this chapter, the department may approve the leasing of
facilities for the agency or lease facilities in its own name and assign
them to the agency. A lease approved under this subsection must
satisfy all the following:
(1) Must be approved under IC 4-13-2-14.1.
(2) May not be for a term of more than four (4) years.
(3) May provide for the state to make improvements on the leased
property if authorized by the public works division of the
department.
(4) Notwithstanding IC 4-13-2-20, may provide for payment to
the lessor at any time during the term of the lease for leasehold
improvements made by the lessor.
(b) Notwithstanding subsection (a)(2), the following apply:
(1) A lease entered into under this section may be renewed for
successive terms.
(2) The term of a lease may be for more than four (4) years, but
not more than ten (10) years, if the commissioner makes a written
determination stating the reason that it is in the best interests of
the state to rent property for a term of more than four (4) years.

Legislative History

As added by P.L.7-1993, SEC.7. Amended by P.L.267-1999, SEC.4.