Indiana Code 36-9-30-28. Lease with option to purchase facilities; erection of facility on land owned by unit
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Sec. 28. A unit that wants to have solid waste disposal facilities erected on land owned or to be acquired by the unit may:
(2) lease that land to the lessor for a nominal rental for the same period of years that the unit leases the facilities, and grant an option to the lessor to purchase the land within six (6) months after the termination of the lease of the facilities if the unit defaults under the terms of the lease and the lease is terminated.
(1) sell that land to the lessor; or
Terms Used In Indiana Code 36-9-30-28
- 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
- Solid waste: means all putrescible and nonputrescible solid and semisolid wastes, except human excreta, but including garbage, rubbish, ashes, street cleanings, dead animals, offal, and solid commercial, industrial, and institutional wastes. See Indiana Code 36-9-30-2
If the option price on the land is not fixed in the original lease, the circuit court for the county shall appoint three (3) appraisers who reside in the unit to determine the price to be paid for the land under the option.
[Pre-Local Government Recodification Citation: 19-2-1-27.]
As added by Acts 1981, P.L.309, SEC.106.