Transfer or assignment of lease purchase arrangement;

designation as public property. A. A holder of a lease purchase arrangement, including any public entity holding a lease purchase arrangement, may secure financing by issuing certificates of participation or otherwise assigning or transferring all or a portion of the lease purchase arrangement. B. A building or other real property subject to a lease purchase arrangement that has been entered into and approved pursuant to the Public School Lease Purchase Act shall be considered to be a public property. History: 1978 Comp., § 22-26A-5.1, as enacted by Laws 2009, ch. 132, § 5.