§53-35  Transfer of title or foreclosure of
project.  Until the expiration of thirty-five years from the date of
acquisition of property of or in a redevelopment project by a redevelopment
corporation, it shall not have power to sell the property or any interest
therein without the consent of the redevelopment agency.  Upon acquisition of
the project by any person, firm, or corporation other than another
redevelopment corporation, by lease or sale, or upon the initiation of
foreclosure proceedings any tax exemption or partial tax exemption granted to
the project shall immediately terminate. [L 1949, c 379, §18; RL 1955, §143-34;
HRS §53-35]