The chapter text below is provided for context. Scroll down to see the text of the law.
CHAPTER 409 AN ACT TO AUTHORIZE THE CITY BOARD OF EDUCATION OF MONROE TO LEASE THE STADIUM LOCATED ON OR NEAR THE WALTER BICKETT PUBLIC SCHOOL TO THE RECREATION DEPARTMENT OF THE CITY OF MONROE FOR A PERIOD OF TWENTY-FIVE YEARS. WHEREAS, it is desirable that the Monroe City Board of Education shall be authorized to lease the stadium located on the campus of or near the Walter Bickett Public School in the City of Monroe and that such lease should be executed for a term of 25 years for a nominal consideration and in further consideration of the fact that such lease will be of great benefit to the Monroe City Board of Education and to the Recreation De- partment of the City of Monroe in obtaining funds granted under the provisions of the Land and Water Use Act or other appropriate agency of the Federal Government; and 421 WHEREAS, the leasing of said stadium to the Department of Rec- reation of the City of Monroe will not impair the use of the stadium by the Monroe City Board of Education for public school purposes to any appreciable degree and will result in substantial benefit: Now, therefore, The General Assembly of North Carolina do enact:
That for a nominal consideration and in further consideration of the benefits that will accrue to the Monroe City Board of Education by reason of the lease of the stadium as hereinafter authorized, the Monroe City Board of Education is hereby authorized and empowered to lease the stadium and grounds connected therewith to the Monroe Department of Recreation, or other appropriate subdivision of government, for a period of 25 years. The said lease shall contain such terms and conditions as shall be formulated and mutually agreed upon between the parties herein mentioned, and the proper officials of the Monroe City Board of Education and of the Department of Recreation of the City of Monroe, or other appropriate subdivision of government, are authorized to mutually agree upon and properly execute and sign such lease relating to the stadium and grounds connected therewith located on or near the campus of the Walter Bickett Public School.