The Director of the Division of Purchase and Property in the Department of the Treasury is hereby authorized and empowered to lease, in the name of the State for a nominal consideration, any lands owned by the State, and not needed or used for State purposes, to any municipality of the State, or to any parking authority duly created and organized under and by virtue of chapter one hundred ninety-eight of the laws of one thousand nine hundred and forty-eight, for the use of the same by such municipality or parking authority for public parking purposes for a term not exceeding five years, and upon such terms, covenants and conditions as shall be prescribed by the said director and upon the express condition that if said lands be needed for State purposes at any time prior to the expiration of the term of such lease, the said lands shall be surrendered to the State within thirty days after service of a written notice by said director that the lands so leased are needed for State use.

L.1949, c. 132, p. 505, s. 1.