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(a) Leases on land subject only to short term leasing under sec. 10(b) of this chapter shall not exceed a term of five years.
(b) All other leases shall be for any period as determined by the director to be in the best interest of the state, provided the term of the initial lease and any renewal thereof pursuant to AS 38.05.100 does not exceed a total of 55 years.
History: Eff. 4/16/70, Register 34
Authority: AS 38.05.020
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Last modified 7/05/2006