13-1348b.   Certain cities over 250,000; lease of real estate forairport purposes, when; limitation.The airport authority or, if such authority has not been established,the board of park commissioners of any city now or hereafter having apopulation of two hundred fifty thousand (250,000) or more, may lease for aterm not to exceed fifty (50) years any real estate owned or controlled bysuch airport authority or board which was acquired for airport purposes, onsuch terms and conditions as the authority or board may determine, exceptthat every such lease shall require that the real estate be used forairport purposes or purposes incidental or related thereto. Title to allimprovements on the demised premises shall revert to the city upontermination of the lease.

      History:   L. 1957, ch. 115, § 1; L. 1975, ch. 5, § 16; July 1.