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;

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Terms Used In Indiana Code 36-9-30-24

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • 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
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
  • Solid waste: means all putrescible and nonputrescible solid and semisolid wastes, except human excreta, but including garbage, rubbish, ashes, street cleanings, dead animals, offal, and solid commercial, industrial, and institutional wastes. See Indiana Code 36-9-30-2
(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.

[Pre-Local Government Recodification Citations: 19-2-1-20; 19-2-1-23.]

As added by Acts 1981, P.L.309, SEC.106.

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