91.120. May acquire water system--procedure. - Missouri Statutes

May acquire water system--procedure.

91.120. 1. The city shall have the right to acquire bypurchase any waterworks system in operation in such city at itsfair and equitable value, to be agreed upon by the city and theperson, firm or corporation owning the waterworks system, andwhenever a proposition is made in writing to the city by theperson, firm or corporation owning such plant to sell to the cityunder sections 91.090 to 91.300 its waterworks system at a pricethat the city council deems fair and equitable, the council orother proper authorities shall, by ordinance, submit the questionto the voters of the city.

2. The question shall be submitted in substantially thefollowing form:

Shall the city acquire the waterworks system and property andissue bonds therefor, which shall be a first lien on thewaterworks system and property, but not a general or personalobligation of the city?

3. And if a majority of the voters of the city voting on thequestion shall vote "Yes", then such city shall acquire saidproperty at the price and on the terms named in the question.

(RSMo 1939 § 7809, A. 1949 H.B. 2039, A.L. 1975 H.B. 947, A.L. 1978 H.B. 971)

Prior revisions: 1929 § 7664; 1919 § 9102; 1909 § 9927