(a)

(1) The state or any municipal corporation, county, or other political subdivision thereof shall have the authority to sell, lease, grant, exchange, or otherwise dispose of any property, or interest therein, comprising parks, playgrounds, golf courses, swimming pools, or other property which has been dedicated to a public use for recreational or park purposes by a private citizen, corporation, or association. The property, or interest therein, may have been thereafter acquired by the state, county, city, or other political subdivision thereof without regard to whether the public use has been previously abandoned or whether the property has become unsuitable or inadequate for the purpose for which originally dedicated.

(2) Any disposition shall be on such terms and conditions as may be deemed desirable or necessary.

(b)

(1) Any municipality in this state shall have the authority to lease to any individual, firm, or corporation municipal property comprising parks, playgrounds, golf courses, swimming pools, or other property which have been dedicated to a public use for recreational or park purposes on such terms and conditions as may be desirable or necessary.

(2) Any municipality is also authorized to lease municipally owned lands and facilities to a community college board to be used for educational purposes.

(3) Any lease under this subsection shall be for a period not to exceed ninety-nine (99) years.

(4) Those persons or entities holding leases on municipal park and recreational facilities on July 5, 1977, shall have the first option to renew their leases.

(c) Except as provided in subsection (b) of this section, any lease under this subchapter shall be for a period not to exceed twenty (20) years.