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Terms Used In Indiana Code 5-1.2-9-11

  • 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
   Sec. 11. An action to contest the validity of any sale or lease awarded and approved by the authority under this section may not be commenced more than thirty (30) days following the authority’s adoption of a resolution designating the successful bidder or bidders and stating and approving the basic terms and conditions of the sale or lease.

As added by P.L.189-2018, SEC.25.