190 Council May Acquire Property

• 190 (1) The Council may provide

• (a) for acquiring such real property (within or without the city) and personal property as may be required for the purposes of the city;

• Disposal of real property

• (b) for disposing of any real or personal property of the city by sale, conveyance, lease, or licence when in the opinion of the Council such property is not required by the city, upon such terms and conditions as may be deemed expedient, and to accept in payment either money or other property; provided, however, that no parcel of real property which exceeds four hundred thousand dollars in value shall be sold to any person other than Her Majesty in her right of Canada or the Province, or any agency of the Crown, except by the affirmative vote of two-thirds of all the members of Council.

• (2) Notwithstanding anything in this Act, the city may enter into agreements with the Government of Canada or its authorized representative and others, on terms and conditions the Council considers advisable, for the acquisition, leasing, use and development of that parcel of land within the City of Vancouver described as Block 56, District Lot 541, Plan 15375.
• (3) In relation to the parcel referred to in subsection (2),

• (a) the city may borrow amounts necessary for the purposes of acquiring, leasing, using and developing the parcel, including for the purposes of constructing improvements on the parcel;
• (b) for the purpose of securing the repayment of amounts borrowed under paragraph (a) and any other amounts payable related to the acquisition, leasing, use and development of the parcel, the city may mortgage, assign or otherwise charge
  • (i) any interest it has in the parcel,
  • (ii) any interest or lease in the parcel that it has granted, and
  • (iii) any monies payable to the city under a lease or other interest in the parcel that it has granted.

1953-55-190; 1955-114-7; 1958-72-13; 1966-69-9, effective January 1, 1964; 1969-45-11; 1977-30-147, proclaimed effective September 30, 1977; 1984-32-7; 1992-57-4.