Amends Section 4 of SL 1997-275, as amended, by changing the term of leases that the Halifax-Northampton Regional Airport Authority (Authority) may enter into concerning facilities related to the maintenance and furnishings of the air terminal from a term not to exceed 25 years to a term not to exceed 40 years. Exempts Authority’s leases of its personal and real property from the procedures set forth in Article 12 of GS Chapter 160A (pertaining to the sale and disposition of property), so that only property sold by the Authority is subject to those procedures. Permits these leases to be made on terms and conditions deemed advisable by the Authority.