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JOINT RESOLUTION <br />OF THE <br />LEE COUNTY BOARD OF COMMISSIONERS <br />SANFORD CITY COUNCIL AND <br />SANFORD AREA GROWTH ALLIANCE <br />WHEREAS, the General Assembly of North Carolina created the Sanford -Lee County Regional <br />Airport Authority in 1992 to guide and direct the activities of the jointly -owned Sanford -Lee County <br />Regional Airport; and <br />WHEREAS, Session Law 1991-903 which created the Authority provided for the Authority to <br />lease real or personal property or both for a term of twenty (20) years; and <br />WHEREAS, Session Law 1991-903 provided for the Authority to contract with persons, firms, or <br />corporations for terms not to exceed twenty (20) years for the operation of passenger and freight <br />flights, scheduled or non-scheduled and any other plane or flight activities not inconsistent with airport <br />operations; and <br />WHEREAS, Session Law 1991-903 provided for the Authority to operate, own, control, regulate, <br />lease, or grant to others the license to operate amusements or concessions for a term not exceeding <br />twenty (20) years; and <br />WHEREAS, the Sanford -Lee County Regional Airport Authority has had opportunities for <br />additional hangar and business development at the Airport; and <br />WHEREAS, current construction costs for hangars make it increasingly difficult for the investor <br />to have a reasonable return on investment within the current twenty (20) year limitation; and <br />WHEREAS, amending Session Law 1991-903 to allow for up to forty (40) years for leasing <br />property, contracting with persons or firms and operate lease or grant licenses to amusements or <br />concessions is not inconsistent with airport operations; and <br />WHEREAS, allowing for up to forty (40) years for leasing, contracting, or granting of licenses for <br />real or personal property may create more opportunities for new hangars and business development at <br />the Airport; and <br />WHEREAS, the Sanford -Lee County Regional Airport Authority has voted unanimously to request <br />the North Carolina General Assembly to amend Session law 1991-903 pertaining to term limits for <br />contracting, leasing, or granting licenses of currently twenty (20) years to up to forty (40) years; and <br />