Notwithstanding any other provision of law, the state, or any agency or institution of the
state, may enter agreements to lease all or part of, or an undivided or other interest in, any real
or personal property belonging to the state, or any agency or institution of the state, to and, or,
from any agency or institution of the state or any person for such compensation and upon such
terms and conditions as the parties under such agreement may stipulate. Such agreements
must be authorized by the board, if any, or commissioner or other executive officer of the
commission, agency, or institution holding, controlling, possessing, or owning the property or on
whose behalf the property is held. For purposes of this section, the agreements include any
lease, sublease, purchase agreement, lease-pur
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Notwithstanding any other provision of law, the state, or any agency or institution of the
state, may enter agreements to lease all or part of, or an undivided or other interest in, any real
or personal property belonging to the state, or any agency or institution of the state, to and, or,
from any agency or institution of the state or any person for such compensation and upon such
terms and conditions as the parties under such agreement may stipulate. Such agreements
must be authorized by the board, if any, or commissioner or other executive officer of the
commission, agency, or institution holding, controlling, possessing, or owning the property or on
whose behalf the property is held. For purposes of this section, the agreements include any
lease, sublease, purchase agreement, lease-purchase agreement, installment purchase
agreement, leaseback agreement, or other contract, agreement, instrument, or arrangement
pursuant to which any rights, interests, or other property are transferred to, by, or from any party
to, by, or from one or more parties, and any related documents entered or to be entered,
including any operating agreement, service agreement, indemnity agreement, participation
agreement, loan agreement, or payment undertaking agreement entered as part of a long-term
lease and leaseback transaction. A lease obligation under this section may not exceed a term of
ninety-nine years. A lease obligation entered into under this section is payable solely from
revenues to be derived by the state, or any agency or institution of the state, from the
ownership, sale, lease, disposition, and operation of the property; any funds or investments
permitted under state law, and any earnings thereon, to the extent pledged therefor; revenues to
be derived by the state, or any agency or institution of the state, from any support and operating
agreement, service agreement, or any other agreement relating to the property; funds, if any,
appropriated annually by the legislative assembly or received from federal sources; and income
or proceeds from any collateral pledged or provided therefor. A lease obligation under this
section does not constitute an indebtedness of the state, or any agency or institution of the
state, or a pledge of the full faith and credit or unlimited taxing resources of the state, or any
agency or institution of the state. Notwithstanding any other law, the state, or any agency or
institution of the state, may solicit and accept one or more proposals for a lease transaction,
including the arrangement thereof, under this section, and accept any proposal that is
determined to be in the public interest. The public finance authority, on behalf of the state, or
any agency or institution of the state, may do and perform any acts and things authorized by this
section, including making, entering, and enforcing all contracts or agreements necessary,
convenient, or desirable for the purposes of this section.