§206M-43 Findings and determinations for special facility leases.
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/hi/206m-43A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§206M-43 Findings and determinations for special facility leases. The development corporation shall not enter into any special facility lease unless the development corporation, at or prior to the entering into of the special facility lease, shall find and determine:
(1)That the building, structure, or facility that is to be the subject of the special facility lease shall not be used to provide services, commodities, supplies or facilities that are then adequately being made available otherwise in the State;
(2)That the use or occupancy of the building, structure, or facility under the special facility lease would not result in the reduction of the revenues derived from the economic zones or other properties of the development corporation to an amount below the amount required to be derived therefrom by section 39-61; and
(3)That the entering into of the special facility lease would not be in violation of or result in a breach of any covenant contained in any resolution or certificate authorizing any bonds of the State then outstanding. [L 2000, c 72, pt of §1; am L 2022, c 55, §2]