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§ 160A-272. Lease or rental of property. <br /> (a) Any property owned by a city may be leased or rented for such terms and upon such <br /> conditions as the council may determine, but not for longer than 10 years (except as otherwise provided <br /> in subsection (b1) of this section) and only if the council determines that the property will not be needed <br /> by the city for the term of the lease. In determining the term of a proposed lease, periods that may be <br /> added to the original term by options to renew or extend shall be included. <br /> (a1) Property may be rented or leased only pursuant to a resolution of the council authorizing the <br /> execution of the lease or rental agreement adopted at a regular council meeting upon 30 days' public <br /> notice. Notice shall be given by publication describing the property to be leased or rented, stating the <br /> annual rental or lease payments, and announcing the council's intent to authorize the lease or rental at <br /> its next regular meeting. <br /> (b) No public notice as required by subsection (a1) of this section need be given for resolutions <br /> authorizing leases or rentals for terms of one year or less, and the council may delegate to the city <br /> manager or some other city administrative officer authority to lease or rent city property for terms of <br /> one year or less. <br /> (b1) Leases for terms of more than 10 years shall be treated as a sale of property and may be <br /> executed by following any of the procedures authorized for sale of real property. <br /> (c) Notwithstanding subsection (b1) of this section, the council may approve a lease without <br /> treating that lease as a sale of property for any of the following reasons: <br /> (1) For the siting and operation of a renewable energy facility, as that term is defined in <br /> G.S. 62-133.8(a)(7), for a term up to 25 years. <br /> (2) For the siting and operation of a tower, as that term is defined in G.S. 146-29.2(a)(7), <br /> for communication purposes for a term up to 25 years. (1971, c. 698, s. 1; 1979, <br /> 2nd Sess., c. 1247, s. 26; 2009-149, ss. 2, 3; 2010-57, s. 2; 2010-63, s. 2(b); 2011- <br /> 150, s. 1; 2014-120, s. 34; 2015-246, s. 9 <br /> Attachment number 1 \n <br /> F-4 Page 77 <br />