Alaska Statutes: AS 44.88.170. Purchase of Project and Leases.

Alaska Statutes. Title 44. State Government Chapter 88. Alaska Industrial Development and Export Authority Section 170. Purchase of Project and Leases.

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AS 44.88.170. Purchase of Project and Leases.

(a) Nothing in this chapter prevents 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 which 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 which the authority may approve, including without limitation, 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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