Indiana Code 36-1-10-5. Leases without option to purchase; procedure
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Sec. 5. Notwithstanding sections 6, 12, 16, and 17 of this chapter, the following procedure shall be followed whenever a lease does not contain an option to purchase:
(2) The leasing agent must have a copy of the lease filed and kept in a place available for public inspection.
(1) The lease must provide that the lease is subject to annual appropriation by the appropriate fiscal body.
Terms Used In Indiana Code 36-1-10-5
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Leasing agent: means the board or officer of a political subdivision or agency with the power to lease structures. See Indiana Code 36-1-10-2
- Structure: means :
Indiana Code 36-1-10-2
A leasing agent may lease part of a structure.
[Local Government Recodification Citation: New.]
As added by Acts 1981, P.L.57, SEC.36. Amended by P.L.131-1984, SEC.4; P.L.330-1985, SEC.1; P.L.90-2002, SEC.462; P.L.174-2022, SEC.68.