Cities of the second class shall have power to lease to any person or persons any street or highway, or part thereof, laid out or opened along a navigable stream, or streets or highways, or parts thereof, created by act of Assembly, within the limits of said city, wherever, in the judgment of the corporate authorities of said city, the said streets, highways, or parts thereof, are not necessary for immediate public use. Said lease or leases may be made for a period of not exceeding ten years; subject, however, to the condition that said lease or leases may be terminated by said city whenever, in the judgment of the corporate authorities, the same may be necessary or required for the use of the general public.
53 P.S. § 24371