Indiana Code 4-12-14-8. Components of sublease payments
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Sec. 8. The sublease rental payments under a sublease entered into under this chapter may include amounts payable for:
(2) maintenance, repair, or replacement reserves necessary or appropriate to keep the Columbus Learning Center in good operating order; and
(1) the operation and management of the Columbus Learning Center;
Terms Used In Indiana Code 4-12-14-8
- Columbus Learning Center: refers to a multipurpose educational facility to be located in Columbus, Indiana, and leased by the board of aviation commissioners of the city of Columbus, Indiana, to Columbus Learning Center Management Corporation. See Indiana Code 4-12-14-1
- 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
(3) repayment of the principal of and interest on the lease rental revenue bonds, subject to the limitations set forth in section 6 of this chapter.
As added by P.L.220-2011, SEC.27.