48-4239. Conveyance of real property and improvements

301 words·~1 min read·/az/title-48/48-4239

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

If any of the following applies to an entity or individual, or any successor in interest to the entity or individual, that uses a major league baseball facility that is owned by a district pursuant to this chapter and operated by the district or the professional baseball franchise organization that occupies the major league baseball facility, ownership of the real property and any improvements to real property for the district are immediately and irrevocably conveyed to the municipality in which the district is located, at no cost to the municipality:

1. The entity or individual, or any successor in interest to the entity or individual, terminates any lease or other agreement with the district for use of the major league baseball facility that is owned by the district pursuant to this chapter and operated by the district or the professional baseball franchise organization that occupies the major league baseball facility, regardless of whether the lease or other agreement pertains to the use of the major league baseball facility.

2. Any lease or other agreement between the entity or individual, or any successor in interest to the entity or individual, and the district for the use of the major league baseball facility that is owned by the district pursuant to this chapter and operated by the district or the professional baseball franchise organization that occupies the major league baseball facility expires, regardless of whether the district and the entity or individual were negotiating an extension to the existing lease or other agreement or negotiating a new lease or other agreement.

3. The district gives up any ownership interest of the major league baseball facility that is owned by the district pursuant to this chapter and operated by the district or the professional baseball franchise organization that occupies the major league baseball facility.