Notwithstanding any other provision in this chapter, the state may lease any project or other property to the commission, in lieu of a transfer of title, and the commission may sublease or leaseback any such project or property back to the state in connection with any financing by the commission under this chapter. Any reference in this chapter to the power or authority of the commission or the state to sell, convey, or lease any project or other property to the other must be deemed to include the power or authority to lease, sublease, or leaseback such project or property, as the case may be.
54-17.2-06. Financing agreements with state agencies authorized - Commencement of payments under financing agreements. The commission may enter into financing agreements for any project with the state. The financing agreements may be entered into contemporaneously with any financing to be done by the commission and payments under the terms of the financing agreement shall begin at any time after execution of the financing agreement.
54-17.2-07. Terms, conditions, and payment under financing agreements - Automatic biennial extension provisions. Financing agreements may be entered into by the commission: 1. Upon terms, conditions, and payment provisions, subject to available appropriations, as in the judgment of the commission are in the public interest; and 2. For an original term of not to exceed two years, with an automatic extension of the term of the financing agreement, unless specifically rejected by the legislative assembly, for a term of two years from the expiration of the original term of the financing agreement and for two years from the expiration of each extended term of the financing agreement, until the original term of the financing agreement has been extended for a total number of years to be agreed upon by the parties at a payment which, if paid for the original term and for each of the full number of years for which the term of the financing agreement may be extended, will amortize the total project cost of the project. The payment must be paid at the times agreed upon by the parties to the financing agreement.