Sec. 8. (a) If two (2) or more leasing agents propose to enter into a lease jointly, joint meetings of the leasing agents may be held. However, joint leasing must be approved by each leasing agent's fiscal body.
(b) A lease executed by two (2) or more leasing agents as joint lessees must set out the amount of the total rental to be paid by each. A lessee has no right of occupancy or use of the transportation project or system until the total rental is paid as stipulated by the contract.
[Pre-Local Government Recodification Citation: 18-5-3.3-1 part.]
As added by Acts 1981, P.L.57, SEC.36. Amended by P.L.37-1988, SEC.13; P.L.343-1989(ss), SEC.16.
Structure Indiana Code
Chapter 10. Leasing and Lease-Purchasing Structures
36-1-10-1. Application of Chapter
36-1-10-3. Persons Entitled to Lease Property to Political Subdivision or Agency
36-1-10-4.1. Leasing Agents; Compliance With Chapter; Procedure in Lease Without Option to Purchase
36-1-10-5. Leases Without Option to Purchase; Procedure
36-1-10-6. Limitation on Term of Lease
36-1-10-7.5. Lease of a Structure, Transportation System, or System by a School Corporation
36-1-10-11. Property Held in Fee Simple; Sale Procedure
36-1-10-13. Hearing; Procedure; Execution of Lease
36-1-10-14. Disagreement With Execution of Lease; Petition; Hearing; Decision
36-1-10-15. Actions to Contest Validity of Lease or to Enjoin Performance Under Lease
36-1-10-16. Conveyance of Structure to Lessor and Lease Back; Purchase Price; Option to Purchase
36-1-10-17. Annual Appropriation and Tax Levy
36-1-10-21. Not-for-Profit Corporations; Issuance and Sale of Bonds and Other Securities