53-30-505. Contract time limit.
53-30-505. Contract time limit. A contract entered into under 53-30-504 may not exceed a term of 30 years and must contain provisions for renegotiation after 30 years. The provisions of 18-4-313 that limit the term of a contract do not apply to a contract authorized by 53-30-504.
History: En. Sec. 5, Ch. 316, L. 1995; amd. Sec. 6, Ch. 455, L. 1997.