Same; lease of hospital property; contracts for management of hospital; authority to sue

(a) The board may enter into written contracts for: (1) The lease of any hospital property to any person, corporation, society or association upon such terms and conditions as deemed necessary by the board; (2) the lease of real property to be used for hospital purposes from any person, corporation, society or association upon such terms and conditions as deemed necessary by the board; (3) the lease of personal property from any person, corporation, society or association upon such terms and conditions as deemed necessary by the board. Any such contract may provide for the payment as compensation for use of such personal property a sum substantially equivalent to or in excess of the value of the personal property under an agreement that the hospital shall become, or for no further or a merely nominal consideration has the option of becoming, the owner of the personal property upon full compliance with the provisions of the contract; (4) the management of any hospital with any person, corporation, society or association upon such terms and conditions as deemed necessary by the board. (b) The board may sue in its own name or in the name of the hospital. The board may be sued and may defend any action brought against it or the hospital. (c) The board is not subject to the cash-basis law.