Virginia Code 15.2-5320: Conveyance, lease or transfers of property by city to authority
In order to provide for the construction, reconstruction, improvement, repair or management of any hospital or hospital project or in order to accomplish any of the purposes of this chapter, any city may, with or without consideration or for a nominal consideration, lease, sell, convey or otherwise transfer to an authority, within such city, any real, personal or mixed property including, but not limited to, any existing hospital or hospital project as a going concern or otherwise, and including the assignment and transfer of any part of or all money, choses in action and other assets used or held for the use of such hospital or hospital project. In connection with any such transaction the authority involved may accept such lease, transfer, assignment and conveyance and bind itself to the performance and observance of any agreements and conditions attached thereto.
Terms Used In Virginia Code 15.2-5320
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- City: means both cities and counties, and city-specific terms such as "mayor" shall be deemed to also include the equivalent county term. See Virginia Code 15.2-5301
- 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
- project: means any and all medical facilities and approaches thereto and appurtenances thereof. See Virginia Code 15.2-5301
Code 1950, § 32-234; 1979, c. 719, § 15.1-1553; 1997, c. 587.