12-1708b.   Same; resolution; records.Whenever any such city has real estate which is no longer being used forthe purpose for which it was originally acquired, it may lease such realestate or any part thereof to a corporation organized for the purpose ofindustrial development. Before executing any such lease, the governing bodyof such city shall by resolution find and determine that such real estateis no longer needed for the purpose originally acquired, and that it is inthe best interest of the city that it be so leased. Upon the acceptance ofany such lease by such corporation, said governing body may accept same byresolution, and the same shall be made a part of the records of suchgoverning body, together with the lease agreement properly executed by suchcorporation and the mayor and clerk of such city.

      History:   L. 1959, ch. 89, § 2; Feb. 17.