Cities and county shall have an undivided interest as joint tenants without right of survivorship in all property of any kind whatsoever acquired by the Commission. The portion of the undivided interest of the cities and county in the property shall be in the same ratio as their respective cumulative appropriations bear to the total appropriations of each to the Commission. At the termination of the agreement, cities and county shall divide the Commission’s property or the proceeds of any sales thereof in accordance with their respective interests established by this section. Nothing in this subchapter shall prevent the Commission from leasing or borrowing property to further the purposes of this subchapter.
(Res. passed 2-28-1995)