§ 5-1.2-7-14 — Leases before construction, erection, or renovation of buildings

Indiana § 5-1.2-7-14

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1.2: INDIANA FINANCE AUTHORITY
• Ch. 7: Health Facility Financing

Text

A county may, in anticipation of the
construction, erection, or renovation of a building (including the
necessary equipment and appurtenances), make and enter into a lease
with the authority before the actual acquisition of a site and the
construction, erection, or renovation of the building. The lease shall not
provide for the payment of any lease rental by the lessee until the
building is ready for occupancy. However, if a building is to be
acquired and renovated under this chapter, a county may, in
anticipation of the acquisition and renovation, make and enter into a
lease upon terms and conditions that are agreed upon by the county and
the authority, including:
(1) terms and conditions upon which the county may continue to
operate the building until completion of the renovation; and
(2) the payment of a lease rental by the lessee during the period
of renovation.

Legislative History

As added by P.L.189-2018, SEC.25.