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Ind. Code § 36-10-11-14

Lease; option to purchase

As added by Acts 1982, P.L.218, SEC.5.

Sec. 14. (a) An option to purchase on the dates of each year fixed in the lease, before the expiration of the lease, may also be included in the original lease. The price must be computed by a method set out in the lease. The option may be given to one (1) or more lessees acting jointly or severally.

(b) A lease may not obligate a governmental entity to purchase the leased building or pay creditors or bondholders of the authority.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.