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107.440 Conveyance or lease of land by governmental unit to district.

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107.440 Conveyance or lease of land by governmental unit to district. Any governmental unit or units desiring to have buildings erected on land owned or to be <br>acquired by it or them may convey such lands (whether then with or without <br>improvements) to the district, or may lease such land to the district for a nominal rental <br>for the same period of years that such governmental unit proposes to lease the particular <br>building, or portion thereof, to be constructed wholly or in part thereon, and, in the event <br>the land was leased, may grant an option to the district to purchase such land within six <br>(6) months after the expiration of the lease on the building in the event such <br>governmental unit or units shall not have exercised or shall not exercise an option to <br>purchase such building within the terms of the contract of lease. Any such conveyance or <br>lease of land by a governmental unit to the district shall be authorized by the governing <br>body of such governmental unit by resolution or ordinance which shall be entered in the <br>official records of said governing body. Such authorization may be given concurrently <br>with the authorization by such governmental unit of a lease by it of the particular <br>building, or portion thereof, to be constructed wholly or in part on said land. The deed, in <br>the case of a conveyance of the land, or the lease, in the case of a lease thereof, shall be <br>executed on behalf of the governmental unit by the officer or officers authorized by law to <br>execute contracts on behalf of such unit and said lease shall be executed on behalf of the <br>district by the chairman and secretary of the board. History: Created 1970 Ky. Acts ch. 155, sec. 12.