11-1432

11-1432. Lease of health system assets to
nonprofit corporation

A. As part of the operating agreement, the board of supervisors of the sponsoring
county may agree to lease health system assets to the nonprofit corporation for purposes
prescribed in section 11-1402.

B. If the board of supervisors leases the health system assets to the corporation,
the board of supervisors may convey, sell or otherwise transfer title to any of those
health system assets, including personal property and improvements to real property,
except that:

1. The sponsoring county shall retain title to any fee interest in the land
underlying any conveyed improvements.

2. The lease agreement, including any amendments, renewals or extensions of the
lease agreement, remains binding and effective according to its terms regardless of
ownership of any health system assets.

C. If, under the lease agreement, any of the health system assets or operations are
conveyed to the nonprofit corporation, they are presumed to have been conveyed for their
current fair market value.