Purchasing and constructing buildings to be leased to public authorities

Sec. 8. (a) A savings bank may purchase or construct buildings and hold legal title to a building to be leased to a municipal corporation or other public authority, for public purposes, having resources sufficient to make payment of all rentals as the payments become due. (b) A lease agreement shall provide that upon expiration, the lessee will become the owner of the building. As added by P.L.42-1993, SEC.72.