Minnesota Statutes 465.035 – Public Corporation, Conveyance or Lease of Land
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Any county, town, city or other public corporation may lease or convey its lands for a nominal consideration, without consideration or for such consideration as may be agreed upon to the state or to any governmental subdivision, to the United States or to any agency of the federal government, another public corporation or to the Minnesota State Armory Building commission for public use when authorized by its governing body.
Terms Used In Minnesota Statutes 465.035
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44