20-6-609. Trustees' authority to acquire property by lease-purchase agreement. The trustees of a district may acquire real and personal property by an agreement to lease for up to 7 years for personal property and for up to 15 years for real property with an option to purchase. The terms of the lease must comply with 20-6-625. If real property is acquired, the trustees shall comply with 20-6-603.
History: En. Sec. 1, Ch. 144, L. 1985; amd. Sec. 11, Ch. 22, L. 1997; amd. Sec. 1, Ch. 66, L. 2015.