Section 13 HEFA; sale or lease of buildings, lands or other property; proceeds - Massachusetts Statutes

Section 13. HEFA may sell the buildings or other structures upon any land acquired by it pursuant to section eleven and which are not included in a project, or may remove the same, and may sell or lease any lands or rights or interest in lands or other property acquired for the purposes of this act whenever the same shall, in the opinion of HEFA, cease to be needed for such purposes. The proceeds of any such sale or lease shall be held and disposed of as revenues from the project for or with respect to which the property sold or leased shall have been acquired; provided, however, that except as permitted by section eleven, no property acquired from the commonwealth shall be sold or leased without prior approval of the governor and council; and provided further that the proceeds of any sale or lease of any such property shall be paid to the treasurer and receiver-general of the commonwealth and shall be credited on the books of the commonwealth to the General Fund.

In the event that the council shall sell, convey or lease to HEFA any dormitory, dining commons or boarding hall faculty or student apartment building or student union building at any community college and owned by the commonwealth or any interest of the commonwealth in or to such a building so located but owned by another, and in the further event that funds for the rental or maintenance of such building or buildings have been provided by appropriation from general funds of the commonwealth for any fiscal year ending after the effective date of such sale, conveyance or lease, such sale, conveyance or lease shall provide that the rentals, fees or other charges levied for the use of such building or rooms or accommodations therein or services provided therein in such fiscal years shall be retained by or paid to the treasurer and receiver-general of the commonwealth, as the case may be.