Washington Code 39.106.060 – Authority of members to assist authority and to transfer funds, property, and other assets
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For the purpose of assisting the authority in providing utility services, the members of an authority are authorized, with or without payment or other consideration and without submitting the matter to the electors of those members, to lease, convey, transfer, assign, or otherwise make available to an authority any money, real or personal property or property rights, other assets including licenses, water rights (subject to applicable law), other property (whether held by a member’s utility or by a member’s general government), or franchises or rights thereunder.
[ 2011 c 258 § 6.]
Terms Used In Washington Code 39.106.060
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.