Indiana Code 4-12-14-7. General assembly determination that sublease in best interest of state; terms of sublease
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Terms Used In Indiana Code 4-12-14-7
- 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
- sublease: refers to an agreement between the budget agency and Columbus Learning Center Management Corporation to lease space in the Columbus Learning Center for use by the participating entities. See Indiana Code 4-12-14-4
Sec. 7. The general assembly determines that a long term sublease is in the best interests of the state. Subject to section 6 of this chapter, the budget agency may enter into a sublease for one (1) or more terms that, in total, do not exceed the initial term provided for the repayment of the lease rental revenue bonds.
As added by P.L.220-2011, SEC.27.