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NC H1082
Bill
Status
Introduced
5/22/2012
Primary Sponsor
Timothy Spear
Click for details
AI Summary
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Increases the maximum lease term for city-owned property from 10 years to 40 years without treating the lease as a sale of property.
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Allows the Town of Nags Head to lease property for operation of a licensed nursing home under Chapter 131E of the General Statutes for up to 40 years.
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Leases exceeding 40 years continue to be treated as a sale of property and must follow real property sale procedures.
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Applies only to the Town of Nags Head and specifically to licensed nursing home operations.
Legislative Description
Nags Head Conveyance
Last Action
Ref To Com On Finance
6/7/2012
Committee Referrals
Finance6/7/2012
Government5/24/2012
Full Bill Text
No bill text available