Section 36-1-10-5 - Leases without option to purchase; procedureNotwithstanding sections 6, 12, 16, and 17 of this chapter, the following procedure shall be followed whenever a lease does not contain an option to purchase:
(1) The lease must provide that the lease is subject to annual appropriation by the appropriate fiscal body.(2) The leasing agent must have a copy of the lease filed and kept in a place available for public inspection. A leasing agent may lease part of a structure.
Local Government Recodification Citation: New.
Amended by P.L. 174-2022,SEC. 68, eff. 7/1/2022.As added by Acts1981 , P.L. 57, SEC.36. Amended by P.L. 131-1984, SEC.4; P.L. 330-1985, SEC.1; P.L. 90-2002, SEC.462.