Township authorized to enter lease - purchase agreement to lease real or personal property

The provisions of § 8-10-7 or 8-10-8 or any other provision of law notwithstanding, any township may enter into a lease - purchase agreement for a term of years, not exceeding ten, for the purchase or lease by the municipality of real or personal property. Any lease - purchase agreement for a term exceeding one year requires the approval of more than sixty percent of the members - elect of the board of supervisors. Source: SL 1995, ch 37 , § 3.