Terms Used In New Jersey Statutes 40:8-3

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
40:8-3. a. The governing body of any county may acquire, by lease or purchase, and establish, construct, own, control, lease, equip, improve, maintain, operate, and regulate airports or landing fields for the use of airplanes and other aircraft within the limits of such counties, and may use for such purpose or purposes any property, owned or controlled by such county, suitable therefor, provided that the provision or performance of goods or services in connection with the operation, management, or administration of an airport shall be done pursuant to the “Local Public Contracts Law,” P.L.1971, c.198 (C. 40A:11-1 et seq.) and any supplements thereto.

b. A county may maintain, operate, and manage an airport or landing field as a public utility of the county and, for that purpose, shall keep the accounts of the airport separate and distinct from any other accounts of the county.

Amended 1999, c.440, s.42; amended 2022, c.93, s.1.