Indiana Code 36-9-13-24. Leases; options to renew
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Terms Used In Indiana Code 36-9-13-24
- 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
Sec. 24. A lease under section 23 of this chapter may provide the eligible entity that is the lessee with an option to renew the lease for the same term or a shorter term, on the conditions provided in the lease.
[Pre-Local Government Recodification Citation: 19-8-4-13 part.]
As added by Acts 1981, P.L.309, SEC.86.