Indiana Code 5-1-17.5-33. Option to renew lease
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Terms Used In Indiana Code 5-1-17.5-33
- authority: refers to the Indiana finance authority. See Indiana Code 5-1-17.5-4
- commission: refers to the Indiana motorsports commission created by this chapter. See Indiana Code 5-1-17.5-9
- 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. 33. A lease from the authority to the commission under section 32 of this chapter may provide the commission with an option to renew the lease for the same term or a shorter term, on the conditions provided in the lease.
As added by P.L.233-2013, SEC.5.