The nonprofit corporation shall assume and agree to pay the sponsoring county the amounts remaining to be paid on all uncompleted construction contracts entered into by the county before the transfer date for constructing additions to or improvements or modifications of the health system assets leased to the corporation under the lease agreement.

Terms Used In Arizona Laws 11-1438

  • agreement: means an agreement between the sponsoring county and a nonprofit corporation under this chapter for the corporation to assume the health care responsibilities previously performed by the county, including all arrangements and understandings, including a lease agreement, between the county and corporation. See Arizona Laws 11-1401
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • corporation: means a nonprofit corporation that is organized under title 10 and that is qualified or will qualify under section 501(c)(3) of the internal revenue code. See Arizona Laws 11-1401
  • Health system: means any health care institution and all related real and personal property including, without limitation, all clinics, rehabilitation centers, therapy facilities, outpatient clinics, nursing homes, blood banks, ambulance facilities, extended care facilities, dispensaries, pharmacies, parking facilities, laundry facilities, dormitories, offices and administration buildings, cafeterias and food service facilities, research, laboratory and diagnostic facilities, libraries, information systems and data bases, ambulances, stretcher vans and other medical transportation equipment, education facilities, school-based clinics, equipment, tools, machinery, accounts receivable and other intangible assets, health maintenance organizations, health care services organizations and health insurance plans, including all related reserves, deposits, prepayments, risk pools and similar assets of these organizations and plans, graduate medical and other health care professional educational programs, public health education programs and business operations, in each case maintained, owned or operated for the payment and delivery of medical services, nursing services, home health services, home delivery services, emergency medical services, behavioral health services, long-term care services, health-related services and health screening services, adult day health services, adult foster care services, hospice services, personal care services, respite care services, supervisory care services and medical equipment services. See Arizona Laws 11-1401
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Sponsoring county: means a county that enters into an operating agreement under this chapter. See Arizona Laws 11-1401
  • Transfer date: means a date, agreed to by the sponsoring county and a nonprofit corporation, for the lease of any health system assets and the assumption of all or part of the health system liabilities by the corporation. See Arizona Laws 11-1401

 

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