9-513. Lease of privately owned utility
A. When it is impracticable to issue bonds as provided by section 9-512 for an improvement or enterprise deemed necessary for the public welfare, the municipal corporation may lease at a stipulated rental a public improvement or utility. B. The rental contract shall reserve to the municipal corporation the option to purchase the improvement or utility in the future.
Section: Previous 9-509 9-510 9-511 9-511.01 9-511.02 9-511.03 9-512 9-513 9-514 9-515 9-516 9-517 9-518 9-519 9-520 NextLast modified: October 13, 2016