§ 408. School districts and boards of cooperative educational\nservices. Notwithstanding any limitation contained in section four\nhundred six of this chapter, all real property owned by a school\ndistrict or board of cooperative educational services and all\nimprovements thereon leased by such a district or board provided that\nsuch leased improvements are used for educational purposes and provided,\nfurther, that such lease provides that such district or board is liable\nfor all taxation, special ad valorem levies and special assessments\nlevied upon such improvements shall be exempt from taxation and exempt\nfrom special ad valorem levies and special assessments to the extent\nprovided in section four hundred ninety of this chapter.\n
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