Indiana Code 36-10-11-13. Lease to governmental entity of property controlled by authority; sublease; term; renewal
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Sec. 13. (a) A governmental entity within the county and the authority may enter into a lease for all or part of a building under the control of the authority. A governmental entity may also sublease the leased premises to other governmental entities within the county.
(c) A lease or sublease may not be for a period longer than forty (40) years, but may be renewed for a maximum of forty (40) years. An option to renew may be included in the original lease.
(b) A lease may be entered into before the actual acquisition of a site and the construction of the building. A lease may not provide for the payment of any lease rental by the lessee until the building is ready for occupancy.
Terms Used In Indiana Code 36-10-11-13
- Authority: refers to a building authority created under this chapter. See Indiana Code 36-10-11-2
- Building: means a structure or a part of a structure used for a civic center or a facility that is owned by the city and used by a professional sports franchise, including the site, landscaping, parking, heating facilities, sewage disposal facilities, and other related appurtenances and supplies necessary to make the building suitable for use and occupancy. See Indiana Code 36-10-11-2
- Governmental entity: means a state agency, state university, or political subdivision. See Indiana Code 36-10-11-2
- 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
As added by Acts 1982, P.L.218, SEC.5.