53A-2-403 - Purchase of surplus property. - Utah Statutes

53A-2-403. Purchase of surplus property.
(1) An eligible entity may purchase, and each school district shall sell, surplus propertyas provided in this section.
(2) (a) Upon declaring land to be surplus property, each school district shall give writtennotice to each eligible entity in which the surplus property is located.
(b) Each notice under Subsection (2)(a) shall:
(i) state that the school district has declared the land to be surplus property; and
(ii) describe the surplus property.
(3) Subject to Subsection (4), an eligible entity may purchase the surplus property bypaying the school district the purchase price.
(4) (a) The legislative body of each eligible entity desiring to purchase surplus propertyunder this section shall:
(i) within 90 days after the eligible entity receives notice under Subsection (2), adopt aresolution declaring the intent to purchase the surplus property and deliver a copy of theresolution to the school district; and
(ii) within 90 days after delivering a copy of the resolution under Subsection (4)(a)(i) tothe school district, deliver to the school district an earnest money offer to purchase the surplusproperty at the purchase price.
(b) If an eligible entity fails to comply with either of the requirements under Subsection(4)(a) within the applicable time period, the eligible entity forfeits the right to purchase thesurplus property.
(5) (a) An eligible entity may waive its right to purchase surplus property under this partby submitting a written waiver to the school district.
(b) If an eligible entity submits a waiver under Subsection (5)(a), the school district hasno further obligation under this part to sell the surplus property to the eligible entity.
(6) Surplus property acquired by an eligible entity may not be used for any purpose otherthan:
(a) a county, city, or town hall;
(b) a park or other open space; or
(c) a cultural center or community center.
(7) (a) A school district that sells surplus property under this part may use proceeds fromthe sale only for bond debt reduction or school district capital facilities.
(b) Each school district that sells surplus property under this part shall place all proceedsfrom the sale that are not used for bond debt reduction in a capital facilities fund of the schooldistrict for use for school district capital facilities.

Enacted by Chapter 339, 2006 General Session