§ 160A‑557. Conveyance of property by the city to the authority; acquisition of property bythe city or by the authority.
(a) The city may convey, with or without consideration, to theauthority real and personal property owned by the city for use by the authorityas a parking project or projects or a part thereof. In case of real property soconveyed, the instrument of conveyance shall contain a provision for reversionof the property to the city upon the termination of the corporate existence ofthe authority or upon the termination of the use of the property for thecorporate purpose of the authority. Such conveyance of property by the city tothe authority may be made without regard to the provisions of other lawsregulating sales of property by the city or requiring previous advertisement ofsales of property by the city.
(b) The city may acquire by purchase or condemnation realproperty in the name of the city for the authority or for the widening ofexisting roads, streets, parkways, avenues or highways or for new roads,streets, parkways, avenues or highways to any of the parking projects, orpartly for such purposes and partly for other city purposes, by purchase orcondemnation in the manner provided by law for the acquisition of real propertyby the city. The city may close such streets, roads, parkways, avenues, orhighways as may be necessary or convenient.
(c) Contracts may be entered into between the city and theauthority providing for the property to be conveyed by the city to theauthority, the additional property to be acquired by the city and so conveyed,the streets, roads, parkways, avenues and highways to be closed by the city,and the amounts, terms and conditions of payment to be made by the authority.Such contracts may contain covenants by the city as to the road, street,parkway, avenue and highway improvements to be made by the city, includingprovisions for the installation of parking meters in designated streets of thecity and for the removal of such parking meters in the event that such parking meters are not found to be necessary or convenient. Any such contract maypledge all or any part of the revenues of on‑street parking meters to theauthority for a period of not to exceed the period during which bonds of theauthority shall be outstanding; provided, that the total amount of suchrevenues which may be paid pursuant to such a pledge shall not exceed the totalof the principal of and interest on such bonds which become due and payableduring such period. Such contracts may also contain provisions limiting orprohibiting the construction and operation by the city or any agency thereof indesignated areas of public parking facilities and parking meters whether or nota fee or charge is made therefor. Any such contracts between the city and theauthority may be pledged by the authority to secure its bonds and may not bemodified thereafter except as provided by the terms of the contracts or by theterms of the pledge. The city council may authorize such contracts on behalf ofthe city and no other authorization on the part of the city for such contractsshall be necessary.
(d) The authority may itself acquire real property for a parkingproject at the cost and expense of the authority by purchase or condemnationpursuant to the laws relating to the condemnation of land by the city.
(e) In case the authority shall acquire any real property whichit shall determine is no longer required for a parking project, then, if suchreal property was acquired at the cost and expense of the city, the authorityshall have power to convey it without consideration to the city, or, if suchreal property was acquired at the cost and expense of the authority, then theauthority shall have power to sell, lease or otherwise dispose of said realproperty and shall retain and have the power to use the proceeds of sale,rentals or other moneys derived from the disposition thereof for its purposes. (1951, c. 779, s. 8; 1965, c. 998, s. 3; 1979, 2ndSess., c. 1247, s. 44.)
§ 160A‑557. Conveyance of property by the city to the authority; acquisition of property bythe city or by the authority.
(a) The city may convey, with or without consideration, to theauthority real and personal property owned by the city for use by the authorityas a parking project or projects or a part thereof. In case of real property soconveyed, the instrument of conveyance shall contain a provision for reversionof the property to the city upon the termination of the corporate existence ofthe authority or upon the termination of the use of the property for thecorporate purpose of the authority. Such conveyance of property by the city tothe authority may be made without regard to the provisions of other lawsregulating sales of property by the city or requiring previous advertisement ofsales of property by the city.
(b) The city may acquire by purchase or condemnation realproperty in the name of the city for the authority or for the widening ofexisting roads, streets, parkways, avenues or highways or for new roads,streets, parkways, avenues or highways to any of the parking projects, orpartly for such purposes and partly for other city purposes, by purchase orcondemnation in the manner provided by law for the acquisition of real propertyby the city. The city may close such streets, roads, parkways, avenues, orhighways as may be necessary or convenient.
(c) Contracts may be entered into between the city and theauthority providing for the property to be conveyed by the city to theauthority, the additional property to be acquired by the city and so conveyed,the streets, roads, parkways, avenues and highways to be closed by the city,and the amounts, terms and conditions of payment to be made by the authority.Such contracts may contain covenants by the city as to the road, street,parkway, avenue and highway improvements to be made by the city, includingprovisions for the installation of parking meters in designated streets of thecity and for the removal of such parking meters in the event that such parking meters are not found to be necessary or convenient. Any such contract maypledge all or any part of the revenues of on‑street parking meters to theauthority for a period of not to exceed the period during which bonds of theauthority shall be outstanding; provided, that the total amount of suchrevenues which may be paid pursuant to such a pledge shall not exceed the totalof the principal of and interest on such bonds which become due and payableduring such period. Such contracts may also contain provisions limiting orprohibiting the construction and operation by the city or any agency thereof indesignated areas of public parking facilities and parking meters whether or nota fee or charge is made therefor. Any such contracts between the city and theauthority may be pledged by the authority to secure its bonds and may not bemodified thereafter except as provided by the terms of the contracts or by theterms of the pledge. The city council may authorize such contracts on behalf ofthe city and no other authorization on the part of the city for such contractsshall be necessary.
(d) The authority may itself acquire real property for a parkingproject at the cost and expense of the authority by purchase or condemnationpursuant to the laws relating to the condemnation of land by the city.
(e) In case the authority shall acquire any real property whichit shall determine is no longer required for a parking project, then, if suchreal property was acquired at the cost and expense of the city, the authorityshall have power to convey it without consideration to the city, or, if suchreal property was acquired at the cost and expense of the authority, then theauthority shall have power to sell, lease or otherwise dispose of said realproperty and shall retain and have the power to use the proceeds of sale,rentals or other moneys derived from the disposition thereof for its purposes. (1951, c. 779, s. 8; 1965, c. 998, s. 3; 1979, 2ndSess., c. 1247, s. 44.)
§ 160A‑557. Conveyance of property by the city to the authority; acquisition of property bythe city or by the authority.
(a) The city may convey, with or without consideration, to theauthority real and personal property owned by the city for use by the authorityas a parking project or projects or a part thereof. In case of real property soconveyed, the instrument of conveyance shall contain a provision for reversionof the property to the city upon the termination of the corporate existence ofthe authority or upon the termination of the use of the property for thecorporate purpose of the authority. Such conveyance of property by the city tothe authority may be made without regard to the provisions of other lawsregulating sales of property by the city or requiring previous advertisement ofsales of property by the city.
(b) The city may acquire by purchase or condemnation realproperty in the name of the city for the authority or for the widening ofexisting roads, streets, parkways, avenues or highways or for new roads,streets, parkways, avenues or highways to any of the parking projects, orpartly for such purposes and partly for other city purposes, by purchase orcondemnation in the manner provided by law for the acquisition of real propertyby the city. The city may close such streets, roads, parkways, avenues, orhighways as may be necessary or convenient.
(c) Contracts may be entered into between the city and theauthority providing for the property to be conveyed by the city to theauthority, the additional property to be acquired by the city and so conveyed,the streets, roads, parkways, avenues and highways to be closed by the city,and the amounts, terms and conditions of payment to be made by the authority.Such contracts may contain covenants by the city as to the road, street,parkway, avenue and highway improvements to be made by the city, includingprovisions for the installation of parking meters in designated streets of thecity and for the removal of such parking meters in the event that such parking meters are not found to be necessary or convenient. Any such contract maypledge all or any part of the revenues of on‑street parking meters to theauthority for a period of not to exceed the period during which bonds of theauthority shall be outstanding; provided, that the total amount of suchrevenues which may be paid pursuant to such a pledge shall not exceed the totalof the principal of and interest on such bonds which become due and payableduring such period. Such contracts may also contain provisions limiting orprohibiting the construction and operation by the city or any agency thereof indesignated areas of public parking facilities and parking meters whether or nota fee or charge is made therefor. Any such contracts between the city and theauthority may be pledged by the authority to secure its bonds and may not bemodified thereafter except as provided by the terms of the contracts or by theterms of the pledge. The city council may authorize such contracts on behalf ofthe city and no other authorization on the part of the city for such contractsshall be necessary.
(d) The authority may itself acquire real property for a parkingproject at the cost and expense of the authority by purchase or condemnationpursuant to the laws relating to the condemnation of land by the city.
(e) In case the authority shall acquire any real property whichit shall determine is no longer required for a parking project, then, if suchreal property was acquired at the cost and expense of the city, the authorityshall have power to convey it without consideration to the city, or, if suchreal property was acquired at the cost and expense of the authority, then theauthority shall have power to sell, lease or otherwise dispose of said realproperty and shall retain and have the power to use the proceeds of sale,rentals or other moneys derived from the disposition thereof for its purposes. (1951, c. 779, s. 8; 1965, c. 998, s. 3; 1979, 2ndSess., c. 1247, s. 44.)
