Except as limited by any grant, loan, or agreement authorized by section 2-06-13, an authority may, by sale, lease, or otherwise, dispose of any airport or other property interest acquired under this chapter. The disposal by sale, lease, or otherwise must be in accordance with the laws of this state governing the disposition of other public property, except that in the case of disposal to another authority, a municipality or an agency of the state or federal government for use and operation as a public airport, the sale, lease, or other disposal may be effected in the manner the commissioners of the authority deem in the best interest of civil aviation.

Terms Used In North Dakota Code 2-06-09

  • 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
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
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