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Indiana Code Title 36. Local Government § 36-9-30-24

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 24. (a) A unit may enter into a lease with option to purchase of solid waste disposal facilities inside or outside the corporate boundaries of the unit.  However, a lease with an option to purchase may not be entered into for a term of more than thirty (30) years unless:

(1) the lessor is a corporation organized under Indiana law or admitted to do business in Indiana;

(2) a petition for the lease, signed by fifty (50) or more resident taxpayers of the unit, has been filed with the board;  and

(3) the board has, after investigation, determined that there is a need for the facilities.

The terms and conditions of the option to purchase must be specified in the lease.

(b) A lease under this section may provide that as a part of the lease rental for the solid waste disposal facilities, the unit agrees to:

(1) pay all taxes and assessments levied against or on account of the leased property;

(2) maintain insurance on the leased property for the benefit of the lessor corporation;  and

(3) assume all responsibilities for repair and alterations of the leased property during the term of the lease.

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Cite this article: FindLaw.com - Indiana Code Title 36. Local Government § 36-9-30-24 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-36-local-government/in-code-sect-36-9-30-24/

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