AN ACT authorizing the Burlington‑alamance airport authority to enter into leases and contracts with terms not to exceed forty years.

The General Assembly of North Carolina enacts:

SECTION 1.  Section 4 of S.L. 1969‑814, as amended by S.L. 1971‑263, reads as rewritten:
"Sec. 4. The said Airport Authority shall constitute a body, both corporate and politic, and shall have the following powers and authority:
…
(11)	To lease (without the joinder in the lease agreements of the owning municipalities, to‑wit, the County of Alamance and the City of Burlington) for a term not to exceed forty (40) years, and for purposes not inconsistent with the grants and agreements under which the said airport is held by said owning municipalities, real or personal property under the supervision of or administered by the said Authority.
(12)	To contract with persons, firms or corporations for terms not to exceed forty (40) years, for the operation of airline‑scheduled passenger and freight flights, non‑scheduled flights, and any other airplane activities not inconsistent with said grant agreements under which the airport property is held by the owning municipal corporations, and to charge and collect reasonable and adequate fees, charges and rents for the use of such property or for services rendered in the operation thereof.
(13)	To erect and construct buildings, hangars, shops and other improvements and facilities, not inconsistent with or in violation of the agreements applicable to and the grants under which the real property of the airport is held; to lease the same for a term or terms not to exceed forty (40) years; to borrow money for use in making or paying for such improvements and facilities, secured by and on the credit only of the lease agreements in respect thereto, to pledge and assign such leases and lease agreements as security for loans herein authorized."
SECTION 2.  This act is effective when it becomes law and applies to contracts entered into, renewed, or modified on or after that date.
In the General Assembly read three times and ratified this the 28th day of June, 2019. 

	s/	 Philip E. Berger
	 President Pro Tempore of the Senate

	s/	 Sarah Stevens
	 Speaker Pro Tempore of the House of Representatives