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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 10-7-17

The municipal legislative body must open and consider all bids at the noticed time and place, and must accept the highest responsible bid if voter approval is obtained and the bid meets the stated price conditions.

Source excerpt

asset disposalbid openingindebtednessvaluation
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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01

Purpose and legislative effect

“The municipal legislative body must open and consider all bids at the noticed time and place, and must accept the highest responsible bid if voter approval is obtained and the bid meets the stated price conditions.”

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Subsection 10-7-17(1)

is for an amount equal to or exceeding the appraised value of the property to be sold, as determined under Subsection 10-7-15(1) ; or in the judgment of the municipal legislative body, is an adequate price for the property; and

Section 10-7-17(1)

Subsection 10-7-17(1)(a)

This text sets a threshold: an amount equal to or exceeding the appraised value of the property to be sold, as determined under Subsection 10-7-15(1).

Section 10-7-17(1)(a)

Subsection 10-7-17(1)(b)

in the judgment of the municipal legislative body, is an adequate price for the property; and

Section 10-7-17(1)(b)

Subsection 10-7-17(2)

equals or exceeds the total principal and interest on any outstanding bonds and other indebtedness issued for the purpose of constructing the works or plant.

Section 10-7-17(2)

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Source record from le.utah.gov · Legal dates not recorded

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Showing 5 of 5 provisions

Provision 5

Part 10-7-4

part 10-7-4 Sale or Lease of Power Plants

§ 10-7-17Opening of bids -- Amount to equal or exceed appraised value and amount of outstanding indebtedness.Provision

Source excerpt

The municipal legislative body must open and consider all bids at the noticed time and place, and must accept the highest responsible bid if voter approval is obtained and the bid meets the stated price conditions.

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 body shall, subject to approval of voters at an election held under Section 10-7-15 , accept the bid of the highest responsible bidder, as defined in Section 10-7-16 , if the bid price: is for an amount equal to or exceeding the appraised value of the property to be sold, as determined under Subsection 10-7-15(1) ; or in the judgment of the municipal legislative body, is an adequate price for the property; and equals or exceeds the total principal and interest on any outstanding bonds and other indebtedness issued for the purpose of constructing the works or plant.
Section 10-7-17Verify source
§ 10-7-17(1)Subsection 10-7-17(1)Provision

Source excerpt

is for an amount equal to or exceeding the appraised value of the property to be sold, as determined under Subsection 10-7-15(1) ; or in the judgment of the municipal legislative body, is an adequate price for the property; and

is for an amount equal to or exceeding the appraised value of the property to be sold, as determined under Subsection 10-7-15(1) ; or in the judgment of the municipal legislative body, is an adequate price for the property; and
Section 10-7-17(1)Verify source
§ 10-7-17(1)(a)Subsection 10-7-17(1)(a)Provision

Source excerpt

This text sets a threshold: an amount equal to or exceeding the appraised value of the property to be sold, as determined under Subsection 10-7-15(1).

is for an amount equal to or exceeding the appraised value of the property to be sold, as determined under Subsection 10-7-15(1) ; or
Section 10-7-17(1)(a)Verify source
§ 10-7-17(1)(b)Subsection 10-7-17(1)(b)Provision

Source excerpt

in the judgment of the municipal legislative body, is an adequate price for the property; and

in the judgment of the municipal legislative body, is an adequate price for the property; and
Section 10-7-17(1)(b)Verify source
§ 10-7-17(2)Subsection 10-7-17(2)Provision

Source excerpt

equals or exceeds the total principal and interest on any outstanding bonds and other indebtedness issued for the purpose of constructing the works or plant.

equals or exceeds the total principal and interest on any outstanding bonds and other indebtedness issued for the purpose of constructing the works or plant.
Section 10-7-17(2)Verify source

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