Any person, company, corporation, partnership, copartnership, trust or other business entity desiring to do so may enter into a written lease or loan agreement with the board of education of any technology center school or technology center school district covering the lease or loan to such board of education of any motor vehicle for use by such technology center school or technology center school district in connection with any training or maintenance or other similar educational program, or in administering any such program, operated by or under the direction of such board of education. Such written agreement shall specify the monetary consideration therefor, if any; shall provide that ownership of such motor vehicle shall remain in the person or business entity so furnishing same to the board of education; shall state the make, model, equipment attached, year of manufacture and manufacturer's delivery price of said motor vehicle; and the duration of the term of such lease or loan agreement. Such written agreements shall provide that upon expiration of the term set out in the agreement said motor vehicle shall be returned to the owner thereof. Such agreements shall be executed by the board of education, or an administrative officer in behalf thereof, and the owner of such motor vehicle.
Added by Laws 1971, c. 219, § 1, emerg. eff. June 11, 1971. Amended by Laws 2001, c. 33, § 124, eff. July 1, 2001.