7-34-2303. Lease of county property for boarding home. (1) The board of county commissioners may lease county buildings, equipment, furniture, and fixtures for the purpose of operation of a boarding home for aged persons, with the full power of a lessor except as limited in this part, upon terms and conditions that the board may decide upon.

(2) The rentals received under the lease or leases must be paid into the general fund of the county, or if bonds have been issued under 7-34-2411 to finance or refinance the costs of a boarding home, the rentals must be applied, as necessary, to the payment of the principal of or interest on the bonds.

(3) (a) Except as provided in subsection (3)(b), the lease may not be made for a period longer than 5 years.

(b) A lease may be made for a period longer than 5 years when bonds are issued under 7-34-2411, in which case the lease may extend until the maturity date of the bonds.

(4) The board may not enter into a lease unless it has advertised in a newspaper published in the county at least once a week for 5 weeks that specified buildings and equipment are for lease for the purpose of a boarding home for aged persons.