15.2-5320 - Conveyance, lease or transfers of property by city to authority. - Virginia Statutes

§ 15.2-5320. Conveyance, lease or transfers of property by city to authority.

In order to provide for the construction, reconstruction, improvement, repairor management of any hospital or hospital project or in order to accomplishany of the purposes of this chapter, any city may, with or withoutconsideration or for a nominal consideration, lease, sell, convey orotherwise transfer to an authority, within such city, any real, personal ormixed property including, but not limited to, any existing hospital orhospital project as a going concern or otherwise, and including theassignment and transfer of any part of or all money, choses in action andother assets used or held for the use of such hospital or hospital project.In connection with any such transaction the authority involved may acceptsuch lease, transfer, assignment and conveyance and bind itself to theperformance and observance of any agreements and conditions attached thereto.

(Code 1950, § 32-234; 1979, c. 719, § 15.1-1553; 1997, c. 587.)