(a) The board of commissioners of any improvement district, operating a system of waterworks, gas plants, or electric plants belonging to and owned by any improvement district, may lease the system of waterworks, gas plants, or electric plants for such period of time and upon such terms and conditions as the board of commissioners may […]
(a) The board of commissioners of any improvement district owning a system of waterworks, gas plants, or electric plants may sell the system or any of them, together with the right to operate them, when they shall determine by resolution adopted by a majority vote of the board that it would be for the best […]
(a) Where the sale price is an amount greater than the outstanding secured indebtedness of the district, at least the excess over the amount of the secured indebtedness shall be paid in cash. (b) (1) All deferred payments, if any, shall be secured by a bond for one and one-half (1½) times the total amount […]
(a) The transfer of property under this chapter shall be evidenced by a deed of conveyance in the usual form and with the usual covenants or warranty. However, a lien against the property sold shall be retained in the deed for all of the unpaid sale price with the right, upon default of payment of […]
The proceeds of any initial cash payment from the sale of any plant or system of any improvement district shall be applied first to the payment of all unsecured debts outstanding against the district on account of the plant or system. The remainder shall be, by the commissioners, placed in the treasury of the city […]
