B-176848: Jan 26, 1973

THE CONVEYANCE OF THE LAND BY THE LESSOR TO THE HOUSING AUTHORITY IS NOT AN ASSIGNMENT THAT IS PROHIBITED BY THE ACT BECAUSE THE CONVEYANCE WILL BE SUBJECT TO THE LEASE. 1973: THIS IS IN REPLY TO YOUR LETTER DATED DECEMBER 6. YOUR LETTER IS WRITTEN ON BEHALF OF THE PUBLIC BUILDING AUTHORITY OF BIRMINGHAM. A CONVEYANCE OF THE LAND IS PROHIBITED BY THE ASSIGNMENT OF CLAIMS ACT OF 1940. ARE AS FOLLOW...

B-176848: Jan 26, 1973

A decision was requested regarding the legality of the proposed assignment of rents and conveyance of land incident to financing of the construction of an office building to be leased to the General Services Administration. A valid assignment of the contract payments may be made to the bank as agent or trustee of all of the parties participating in the financing. The conveyance of the land by the...