Sec. 4.1. (a) A leasing agent who wants to lease a structure or transportation project must comply with this chapter. A leasing agent who wants to lease a system must comply with this chapter or IC 5-22.

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Terms Used In Indiana Code 36-1-10-4.1

  • 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
  • Leasing agent: means the board or officer of a political subdivision or agency with the power to lease structures. See Indiana Code 36-1-10-2
  • Structure: means :

    Indiana Code 36-1-10-2

  • System: means :

    Indiana Code 36-1-10-2

  • Transportation project: means a road or highway project jointly undertaken by the Indiana department of transportation and any county through which a toll road project under IC 8-15-2 passes. See Indiana Code 36-1-10-2
     (b) A leasing agent who enters into a lease under this section without an option to purchase must follow the procedure prescribed by section 5 of this chapter.

As added by P.L.1-1990, SEC.357. Amended by P.L.49-1997, SEC.68.

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