Alabama § 14-2-25 - Conveyance of Property by State; Right to Possession Thereof; Consideration Therefor.

§ 14-2-25. Conveyance of Property by State; Right to Possession Thereof; Consideration Therefor.

The Governor of the state is authorized to execute and deliver, at any time and from time to time, an appropriate deed or deeds conveying to the authority:

(1) The Kilby property,
(2) Any unimproved real property belonging to the state in any county which the department determines to be needed by the authority for the construction of facilities, and
(3) Any improved real property and any personal property associated therewith, belonging to the state in any county which the department determines to be needed by the authority for the construction, reconstruction or improvement of facilities.

Upon delivery of such deed to the authority, it thereby shall be invested with all right and title that the state had in the property conveyed thereby, subject to the right of reverter to the state of all such property, except such parts of the Kilby property as shall be sold as authorized in Section 14-2-26, upon the dissolution of the authority. The authority shall be entitled to immediate possession of all such property upon execution of the deed thereto, but it shall not have the right to possession of the Kilby property, or any portion or parcel thereof, until such time or times as the board shall determine that such property, or a portion or parcel, is not required by it for penal or correctional use. The consideration for said conveyance shall be the authority’s agreement to reconvey to the state all said property, except portions of the Kilby property, which have been disposed of, with all improvements thereon, free of charge, immediately before the dissolution of the authority. Since the state will receive back in free rent or earlier reconveyance of facilities the full value of the Kilby property and since other property to be conveyed to and utilized by the authority would not otherwise be improved or further improved, said consideration is hereby conclusively determined to be valuable, adequate and fair. Immediately prior to its dissolution, the authority shall also convey to the state all other assets acquired by the authority, whether by purchase, gift, grant or otherwise, provided the terms of the grant are not violated thereby.