48-5544 - Arizona Statutes

48-5544. Cancellation of lease for failure to pay rent; authority to lease again; auction A. If a lessee of the hospital, freestanding urgent care center, medical clinic or nursing care institution and their equipment fails to make the payment of rental required by the lease, the board of directors, at its option, may cancel the lease for the failure. B. If there is no lease or the lease is cancelled and the board of directors is unable to again lease the hospital, freestanding urgent care center, medical clinic or nursing care institution and their equipment to a lessee qualified under this article at a rent that is sufficient to provide a fair return to the district, the board of directors shall: 1. At least annually at public auction, offer to lease the hospital, freestanding urgent care center, medical clinic or nursing care institution and their equipment to the highest responsible and qualified bidder for such term as the board of directors prescribes. 2. Lease the hospital, freestanding urgent care center, medical clinic or nursing care institution and their equipment to the bidder who bids the highest rental for the prescribed period. C. Notice of the auction shall be given in a newspaper of general circulation in the district at least once each week for four weeks immediately preceding the auction.