Municipal Strategies for Airport Acquisition and Management
Hello, I’m Oklahoma City attorney Dillan Savage of Wirth Law Office, and I practice primarily in the Oklahoma City, Oklahoma area. Today, we are going to be talking about airports again and the ability of municipalities to run and operate or otherwise acquire airports within the bounds or outside of the bounds of the municipalities.
In the event that a municipality does not have the funds or the ability to issue bonds in the amounts required to obtain or operate an airport normally, they will have the ability to lease certain properties or real estate to obtain and run an airport. This is all in the best interest of the individuals within the municipality. Notably, the actual airport does not have to be within the bounds of the municipality itself.
Leasing Properties for Airports
If you want to read a little bit more about this power, especially if you have been approached for a lease from a municipality, you should look at Title III, Section 62. It is entitled Leases, and this title also covers aircraft and airports. This section details the framework under which municipalities can engage in leases for airport operations.
It’s not too lengthy—it specifically discusses the ability of municipalities to lease certain real estate and property solely for the purpose of running and obtaining an airport. This legal backing aids municipalities in their attempts to provide essential services to their communities.
Thank You and Further Information
If you found this video to be helpful or believe it could help someone else, please visit TheOklahomaCityAttorney.com. My name is Dillan Savage, and I’m the Oklahoma City business law attorney with Wirth Law Office. Thank you for watching.
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