3-116.   Lease and use of airport.The governing body, park board or airport authority, as hereinafterprovided, may lease, assign or sublease the whole or any part of any suchairport or municipal field for aviation purposes, to one or moreresponsible persons, associations or corporations, jointly or severally,for any purpose directly or incidentally and necessarily required for thesuccessful and proper operation of such property upon such terms as shallinsure the impartial operation thereof, and rendition of services andconveniences thereon, on an equal basis to all users of said airport ormunicipal field for aviation purposes. When any such airport has beenwholly or partially developed or improved from funds received from thefederal government, or any agency thereof, the governing body, park boardor airport authority of such city shall have the right, power and authorityto enter into lease agreements, arrangements and contracts with the federalgovernment, or any agency thereof, such as the defense plant corporation,war department, or United States navy, for the use of a portion of suchairport or municipal field, upon such terms and conditions as may be agreedupon by the parties to any such contract. Such lease agreement or contractmay extend for a period not exceeding fifty (50) years from the effectivedate thereof.

      The consideration for such agreement may be any sum upon which theparties may agree. Such contract may contain a provision permitting theassignment, conveyance, transfer or subleasing of the portions of suchairport covered by such agreement, either in whole or in part, to any otherperson, firm, or corporation and may fix the terms and conditions underwhich such other person, firm, or corporation shall occupy and use suchportion of the airport. Such leases, contracts, or other agreements shall,if occupancy or use be by other than the federal government or an agencythereof, provide for fair and reasonable compensation to be received bysuch city from such other person, firm or corporation.

      History:   L. 1929, ch. 5, § 4; L. 1943, ch. 5, § 1; L. 1975, ch. 5, § 8; July1.