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2009 Kentucky Revised Statutes
CHAPTER 107 MUNICIPAL IMPROVEMENTS -- ALTERNATE METHODS
107.430 Lease options.

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107.430 Lease options. Any such lease may provide that the lessee may have an option to renew said lease for a <br>like or lesser term, on such conditions as may be provided for in such lease and may <br>contain an option to purchase at any time prior to the expiration of the term of such lease <br>on such date or dates in any year as may be fixed therein, at a price to be computed by a <br>method which shall be set forth in said contract of lease, and such option may be given to <br>one or more of the lessees acting jointly or severally. No lease shall provide, nor be <br>construed to provide, that any governmental unit shall be under any obligation to <br>purchase such leased building. History: Created 1970 Ky. Acts ch. 155, sec. 11.

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