Whenever the site chosen consists of land owned and held by the county, the respective county commissioners may convey in fee to such city, at private sale, upon a fair valuation, such an undivided interest therein as shall be agreed upon. Whenever the site chosen consists of land owned and held by the city, the respective corporate authorities may convey in fee to such county, at private sale, upon a fair valuation, such an undivided interest therein as shall be agreed upon.
Any sale or conveyance of land or interest therein made pursuant to the aforesaid provisions of this act, shall be subject to the approval of the court of common pleas of the proper county as to the amount agreed to be paid and as to the terms and conditions thereof.
53 P.S. § 39903