Indiana Code 8-16-3.5-2. Joint leases
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Indiana Code 8-16-3.5-2
- Contract: A legal written agreement that becomes binding when signed.
- 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. 2. If two (2) or more counties propose to enter into a lease contract jointly, then separate meetings of the county executives may be held, but no action taken shall be binding on any county unless approved by a majority of the county executives. Any lease contract executed by two (2) or more counties as joint lessees shall set out the amount of the aggregate lease rental to be paid by each county.
Formerly: Acts 1975, P.L.92, SEC.2. As amended by P.L.86-1988, SEC.24.