553 - Conditions precedent to sale or lease.

§  553.  Conditions  precedent to sale or lease.  No such grant, sale,  lease or conveyance under this article shall  be  made  unless  (1)  the  authority  or municipality, after a public hearing on ten days published  notice, and with the approval of the government providing the  financial  assistance,  shall  find  that  such  transfer  is  in  the  best public  interest, (2) adequate provision will be made for tenant relocation, and  (3) adequate provision will be made for the payment or retirement of all  bonds, notes  and  other  obligations  issued  by  the  municipality  or  authority to finance the project cost.