Section 5-420 - Airports usable by air carriers.
§ 5-420. Airports usable by air carriers.
(a) In general.- The powers granted to political subdivisions by this subtitle include the power to acquire any property, including air rights or interests, for an airport, airport facility, or air navigation facility to be maintained by any common carrier of passengers or freight by air.
(b) Contract to acquire and sell to carrier; borrowing amount of purchase price.- If a political subdivision contracts with a common carrier of passengers or freight by air to acquire an airport, airport facility, or air navigation facility and to sell the acquired property to the common carrier, the political subdivision may:
(1) Borrow money not exceeding the amount of the purchase price under the contract; and
(2) Use the money to acquire the property, by purchase, condemnation, or otherwise.
[An. Code 1957, art. 1A, § 7-701; 1977, ch. 13, § 2.]