Sec. 24. (a) A unit may enter into a lease with option to purchase of solid waste disposal facilities inside or outside the corporate boundaries of the unit. However, a lease with an option to purchase may not be entered into for a term of more than thirty (30) years unless: (1) the lessor is a corporation organized under Indiana law or admitted to do business in Indiana; (2) a petition for the lease, signed by fifty (50) or more resident taxpayers of the unit, has been filed with the board; and (3) the board has, after investigation, determined that there is a need for the facilities. The terms and conditions of the option to purchase must be specified in the lease. (b) A lease under this section may provide that as a part of the lease rental for the solid waste disposal facilities, the unit agrees to: (1) pay all taxes and assessments levied against or on account of the leased property; (2) maintain insurance on the leased property for the benefit of the lessor corporation; and (3) assume all responsibilities for repair and alterations of the leased property during the term of the lease. [Pre-Local Government Recodification Citations: 19-2-1-20; 19-2-1-23.]
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