Stevensville School District

FINANCIAL MANAGEMENT              7525

Lease-Purchase Agreement

The trustees of a district can lease property with an option to purchase.

Personal property — the lease cannot be more than seven (7) years.

Real property — the lease cannot be more than fifteen (15) years.

The terms of the lease must comply with 20-6-625, MCA.  If real property is acquired, the trustees shall comply with 20-6-603, MCA.

The trustees of any district may lease buildings or land suitable for school purposes when it is within the best interests of the district to lease the buildings or land from the county, municipality, another district, or any person.  The term of the lease may not be for more than fifteen (15) years unless prior approval of the qualified electors of the district is obtained in the manner prescribed by lase for school elections, in which case the lease may be for a term approved by the qualified electors, but not exceeding ninety-nine (99) years.  Whenever the lease is for a period of time that is longer than the current school fiscal year, the lease requirements for the succeeding school fiscal years shall be an obligation of the final budgets for such years.

Cross Reference:

  • Policy 7251         Disposal of school district property without a vote.

Legal Reference:

  • § 20-6-603, MCA                 Trustees’ authority to acquire or dispose of sites and buildings – when election required.
  • 20-6-609, MCA Trustees’ authority to acquire property by lease-purchase agreement.
  • 20-6-625, MCA Authorization to lease buildings or land for school purposes.

Policy History:

Adopted on: March 8, 2016
Reviewed on: Feb. 9, 2016
Revised on: