Section 9-27-36 - Sale or lease of municipal real property for industrial development or publicpurposes--Terms of lease.
9-27-36. Sale or lease of municipal real property for industrial development or public purposes--Terms of lease. Every municipality shall have power to lease or sell on a negotiated basis and to convey any of its real property to a county or the state or another municipality, or to a nonprofit local industrial development corporation as defined by § 9-27-37 and located therein, to be used by such grantee for an authorized public purpose or industrial development purpose as enumerated in § 9-54-1. Such lease or sale shall be authorized on the terms and in the manner provided by resolution of the governing body.
Source: SL 1976, ch 63, § 1; SL 1977, ch 48, § 3.