10-7-15. Sale or lease of electrical generation and distribution system — Appraisal and vote required — Manner of conducting the election. (1) (a) Before selling or leasing in their entirety the works and plant constructed, purchased, or used by the municipality for the purpose of generating or distributing electrical energy for light, heat, or power […]
Effective 5/5/2021 10-7-16. Call for bids — Notice — Contents. (1) (a) Before holding an election under Subsection 10-7-15(1)(a)(ii), the municipal legislative body shall open to bid the sale or lease of the property mentioned in Section 10-7-15. (b) The municipal legislative body shall cause notice of the bid process to be given by publication […]
10-7-17. Opening of bids — Amount to equal or exceed appraised value and amount of outstanding indebtedness. At the time and place mentioned in the notice under Section 10-7-16, all bids received by the municipal legislative body for the property sought to be sold or leased shall be opened and considered, and the municipal legislative […]
10-7-18. Disposition of money received. (1) All money received from the sale of property under Sections 10-7-15 through 10-7-17 shall be kept in a separate fund, and may not be expended, or mixed with other funds of the city or town, until all bonds and other indebtedness issued for the purchase or construction of the […]
