Whenever it shall be deemed impractical to issue bonds, as above provided for, such municipal corporation, when deemed necessary or advisable for the public interest, and without increasing the total indebtedness of such municipal corporation beyond the Constitutional limitation, it shall be lawful for such municipal corporation to lease at a stipulated rental any real estate for use as an airport, or any improved airport within or without the corporate limits thereof from any person, firm or corporation which will contract to lease the same; providing further that in making any such lease contract the municipal corporation may reserve to such municipal corporation the option to purchase such real estate or improved airport in the future.
Laws 1945, p. 20, § 2.