36-1-10-6. Limitation on Term of Lease
Sec. 6. A leasing agent may not enter into a lease for a period of more than fifty (50) years. [Pre-Local Government Recodification Citation: 18-5-3.3-1 part.] As added by Acts 1981, P.L.57, SEC.36.
36-1-10-7. Lease of a Structure, Transportation System, or System by a Political Subdivision Other Than a School Corporation
Sec. 7. (a) As used in this section, “threshold amount” means two hundred fifty thousand dollars ($250,000). (b) This section does not apply if the total annual cost of the lease is less than the threshold amount. (c) A leasing agent for a political subdivision, other than a school corporation, may not lease a structure, […]
36-1-10-7.5. Lease of a Structure, Transportation System, or System by a School Corporation
Sec. 7.5. (a) This section applies only to a school corporation. (b) A leasing agent may not lease a structure, transportation project, or system unless the governing body of the school corporation determines, after investigation, that the structure, transportation project, or system is needed. As added by P.L.257-2019, SEC.96.
36-1-10-8. Joint Leasing
Sec. 8. (a) If two (2) or more leasing agents propose to enter into a lease jointly, joint meetings of the leasing agents may be held. However, joint leasing must be approved by each leasing agent’s fiscal body. (b) A lease executed by two (2) or more leasing agents as joint lessees must set out […]
36-1-10-9. Leases; Terms and Conditions; Options to Renew or Purchase; Exercise of Option to Purchase
Sec. 9. (a) The lease may provide that the leasing agent has an option to renew the lease for a further term or to purchase the property. The terms and conditions of the purchase must be specified in the lease. (b) Whenever the leasing agent exercises an option to purchase the property, then the political […]