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Indiana Code Title 4. State Offices and Administration § 4-20.5-5-7

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

Sec. 7.  (a) If an agency's needs cannot be met under section 6 of this chapter, the department may approve the leasing of facilities for the agency or lease facilities in its own name and assign them to the agency.  A lease approved under this subsection must satisfy all the following:

(1) Must be approved under IC 4-13-2-14.1.

(2) May not be for a term of more than four (4) years.

(3) May provide for the state to make improvements on the leased property if authorized by the public works division of the department.

(4) Notwithstanding IC 4-13-2-20, may provide for payment to the lessor at any time during the term of the lease for leasehold improvements made by the lessor.

(b) Notwithstanding subsection (a)(2), the following apply:

(1) A lease entered into under this section may be renewed for successive terms.

(2) The term of a lease may be for more than four (4) years, but not more than ten (10) years, if the commissioner makes a written determination stating the reason that it is in the best interests of the state to rent property for a term of more than four (4) years.

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Cite this article: FindLaw.com - Indiana Code Title 4. State Offices and Administration § 4-20.5-5-7 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-4-state-offices-and-administration/in-code-sect-4-20-5-5-7/

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