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B-176848 1 (1973-01-26)

handle is hein.gao/gaobadduo0001 and id is 1 raw text is: COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON, D.C. 20548 B- 176848 January 26, 1973 Purcell & Nelson 888 Seventeenth Street, N. W. Washington, D. C. 20006 Attention: Franklin M. Schultz, Esq. Gentlemen: This is in reply to your letter dated December 6, 1972, relative to the proposed financing of the construction of a Social Security Administration Building in Birmingham, Alabama, to be leased to the General Services Administration (GSA) under Lease No. GS-04B-14592 (Neg.), dated September 11, 1972. Your letter is written on behalf of the Public Building Authority of Birmingham, the purchasers and holders of the bonds it proposes to issue, and the Birmingham Trust National Bank, as trustee for such holders. You request an opinion by this Office as to whether a proposed assignment of rents complies with, and a conveyance of the land is pro- hibited by, the Assignment of Claims Act of 1940, as amended, 31 U.S.:. 203, 41 U.S.C. 15. We understand that you urgently require a decision by this Office in order to facilitate the issuance of certain bonds proposed to finance the project. The pertinent facts recited in your letter of December 6, 1972, are as follows: '* * * On September 11, 1972 the General Services Administration ('GSA') entered into a Lease Agree- ment with Franklin L. Haney of Chattonooga, Ten- nessee ('the Lessor'), whereby the Lessor agreed to construct the building in the Civic Center of Birmingham on land owned by the Housing Authority of Birmingham which gave GSA tts option to pur- chase the land, assignable to the successful bidder, for the price of $1,300,000. The GSA Lease specifies PUBLTSHED DECISION 52 Co--cp. Ga.L

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