Ind. Code § 36-9-4-8 – Purchase of property by municipalities from sources other than systems; contracts and leases

(a) If, under section 5 of this chapter, the municipal legislative body decides to purchase buses or real property, or both, for the urban mass transportation system from a source other than the system, it must enter into and confirm by ordinance a contract and lease requiring the municipality to:
1. (1) purchase the buses or real property; or
2. (2) lease the buses or property purchased to the system for use in providing mass transportation within the municipality.
(b) A lease of buses or real property by a municipality to a system under this section must incorporate provisions for rental and other terms and provisions that the municipal legislative body considers necessary under this chapter. The municipality and the system may enter into additional contracts and leases during the term of the lease. The term of a lease of buses under this section may not exceed twenty-five (25) years.
(c) The purchase of buses under this section is governed by the general statutes governing public purchases.
[Pre-Local Government Recodification Citation: 19-5-2-7 part.]
As added by Acts 1981, P.L.309, SEC.77. Amended by Acts 1981, P.L.317, SEC.2.