Montana Code 20-6-609. Trustees’ authority to acquire property by lease-purchase agreement
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20-6-609. Trustees’ authority to acquire property by lease-purchase agreement. The trustees of a district may acquire real and personal property by an agreement to lease for up to 7 years for personal property and for up to 15 years for real property with an option to purchase. The terms of the lease must comply with 20-6-625. If real property is acquired, the trustees shall comply with 20-6-603.
Terms Used In Montana Code 20-6-609
- district: means the territory, regardless of county boundaries, organized under the provisions of this title to provide public educational services under the jurisdiction of the trustees prescribed by this title. See Montana Code 20-6-101
- 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
- Personal property: All property that is not real property.
- Personal property: means money, goods, chattels, things in action, and evidences of debt. See Montana Code 1-1-205
- Property: means real and personal property. See Montana Code 1-1-205
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real property: means lands, tenements, hereditaments, and possessory title to public lands. See Montana Code 1-1-205
- Trustees: means the governing board of a district. See Montana Code 20-1-101