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Alaska Statutes.

Title 30. Navigation, Harbors, and Shipping

Chapter 17. Adak Reuse Authority

Section 330. Purchase of Project and Leases.

AS 30.17.330. Purchase of Project and Leases.

(a) This chapter does not prevent the inclusion in a lease or other agreement relating to a project of a provision granting the right to purchase the project, or to renew or extend the lease or agreement, upon the terms and conditions that may be provided for in the lease or agreement.

(b) A lease with respect to a project may provide for two or more lessees with the legal relationship between themselves and the authority that the authority may approve, including provisions to the effect that the obligations of the lessees under the lease for payment of rental or otherwise between themselves and the authority are several, joint, or joint and several and that the lessees lease the project as tenants-in-common, or otherwise.

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Last modified 9/3/2005