(1) The operating authority may lease portions of its property for recreational purposes upon such terms as it deems advisable and may permit the lessee to construct upon the leased premises such recreational and merchandising facilities as the operating authority thinks proper.
(2) Public notice of intention to lease the premises shall be published at least one (1) time and at least two (2) weeks before the bid date, in a newspaper of general circulation in the county where the municipality is situated.
(3) The operating authority may reject all bids or may accept the bid which it believes most advantageous, bearing in mind the experience and financial resources of the bidder.