2005 Connecticut Code - Sec. 4b-35. (Formerly Sec. 4-128a). Lease of state-owned land to private developers. Lease back with option to purchase.
Sec. 4b-35. (Formerly Sec. 4-128a). Lease of state-owned land to private developers. Lease back with option to purchase. Subject to the provisions of section 4b-30 the Commissioner of Public Works may lease state-owned land to private developers
for construction of buildings and facilities to meet the needs of agencies and institutions,
provided such developers shall agree to lease such buildings and facilities back to the
state with options to purchase. Such options to purchase shall give the state the alternative
of purchasing such building and facilities for a lump sum at a stated time, or times,
during or at the end of the lease term; or to purchase the same by paying the purchase
price in specified installments over a stated period of time.
History: P.A. 77-614 and P.A. 78-303 replaced public works commissioner with commissioner of administrative services; P.A. 87-496 substituted public works commissioner for administrative services commissioner; Sec. 4-128a transferred to Sec. 4b-35 in 1989.
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