NC H1037

Increases the maximum contract period for the Lincolnton-Lincoln County Airport Authority from 25 years to 50 years for leasing facilities, operating restaurants and services, and contracting for airline operations.

Repeals Chapter 286 of the 1977 Session Laws, which previously contained restrictions on the airport authority's contracting powers.

Transfers approximately 23.62 acres of the former Davie County Correctional Center property to the Davie County Board of Commissioners for $1.00, with a reversionary interest retained by the State requiring the property remain in county government use.

Conveys the property "as is" and "where is" without any warranties regarding title, boundaries, zoning, environmental conditions, or other physical or legal conditions, with all conveyance costs borne by Davie County.

Property conveyance becomes effective October 1, 2016, while airport authority contract changes are effective upon enactment.