Kansas Statutes 12-2806. Same; sale, lease or exchange
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Terms Used In Kansas Statutes 12-2806
- Authority: means the transit authority created by this act. See Kansas Statutes 12-2802
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
- Property: includes personal and real property. See Kansas Statutes 77-201
The authority shall have power to acquire by purchase, condemnation, lease, gift or otherwise any property and rights useful for its purposes and to sell, lease, transfer or convey any property or rights when no longer useful or exchange the same for other property or rights which are useful for its purposes.