The City may enter into one or more leases for the use and operation of the aforesaid airport and the facilities thereof and for the rental of lands constituting the same, with persons, firms or corporations. All such leases and/or contracts shall be for fixed and limited periods of time, and shall specify the consideration or compensation to be paid the City for all such purposes and fix the duties of the respective parties relative to the improvement and maintenance of said airport and the ownership of all buildings and structures thereon. (1983 Code § 14-106)