Indiana Code 5-1.2-7-14. Leases before construction, erection, or renovation of buildings
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Sec. 14. A county may, in anticipation of the construction, erection, or renovation of a building (including the necessary equipment and appurtenances), make and enter into a lease with the authority before the actual acquisition of a site and the construction, erection, or renovation of the building. The lease shall not provide for the payment of any lease rental by the lessee until the building is ready for occupancy. However, if a building is to be acquired and renovated under this chapter, a county may, in anticipation of the acquisition and renovation, make and enter into a lease upon terms and conditions that are agreed upon by the county and the authority, including:
(2) the payment of a lease rental by the lessee during the period of renovation.
(1) terms and conditions upon which the county may continue to operate the building until completion of the renovation; and
Terms Used In Indiana Code 5-1.2-7-14
- 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
As added by P.L.189-2018, SEC.25.