10.__Lease of property.__A sewer district may enter into a lease and leaseback or a sale and leaseback transaction with respect to some or all of its real or personal property and may take all other action necessary or desirable, including, but not limited to, the granting of mortgages and liens, to effectuate the transaction.__For property tax purposes, including the purposes under Title 36, section 651, property and any interest in the property, including the lessor's interest, if any, in property leased back to the consumer- owned water utility that is subject to a lease and leaseback or a sale and leaseback transaction under this section is property of the consumer-owned water utility.

SUMMARY

This bill specifically provides that a consumer-owned water or wastewater district may enter into lease and leaseback or sale and leaseback transactions in furtherance of its responsibilities to the public.