No lease or grant of any town or city lot, which reserves any rent or service of any
kind, and which provides for a leasing or granting period in excess of 99 years, shall
be valid. The property owned by, or that held by, or under the management and control of,
any municipality, or any department or board thereof, may be leased for a period not
to exceed 55 years. The property of any municipality not acquired for park purposes may, for the purpose
of producing, or effecting the production of minerals, oil, gas or other hydrocarbon
substances, be leased for a period not to exceed 35 years. Any tidelands or submerged lands, granted to any city by the State of California,
may be leased for a period not to exceed 66 years unless the grant from the state
of the use thereof provides specifically the term for which said lands may be leased. Tidelands and submerged lands owned or controlled by any city, together with the
wharves, docks, piers and other structures or improvements thereon, and so much of
the uplands abutting thereon as, in the judgment of the city council, or other governing
body, of said city, may be necessary for the proper development and use of its waterfront
and harbor facilities, may be leased for a period not to exceed 66 years. Said tidelands, submerged lands and uplands may be so leased only for industrial
uses, the improvement and development of any harbor, or harbors, of said city, the
construction and maintenance of wharves, docks, piers or bulkhead piers, or any other
public use or purpose consistent with the requirements of commerce or navigation at,
or in, any such harbor or harbors.
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