Idaho Code 67-4922A – Leasing of Land and Improvements
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 67-4922A
- board: as used in this chapter shall mean the board of directors of a district. See Idaho Code 67-4902
- Contract: A legal written agreement that becomes binding when signed.
- 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 both real and personal property. See Idaho Code 73-114
No provision of chapter 49, title 67, Idaho Code, shall be construed to prevent the board from entering into a lease for improvements and for real estate for any period in their discretion, not to exceed thirty (30) years, and the board may contract for the leasing of improvements to be constructed upon premises owned by the district or otherwise, and the contract may also provide that at the expiration of the term of the lease, upon full performance of such lease by the district, the improvements and/or real estate, or so much thereof as is leased, may become the property of the district.