Sale or lease of system: Appraisal of gross value after election; notice of sale or lease; conditions.
1. If at the primary, general or special election it is shown that a majority of the ballots cast favors the sale or lease of the telephone system, three disinterested persons must be appointed by the district judge of the county to make a correct appraisement of the gross value of the telephone system.
2. Upon the return of the appraisement, the board of county commissioners shall advertise the sale or lease, for a term of years agreed upon by the board, of the telephone system by notice published at least once a week for 5 consecutive weeks by five weekly insertions a week apart in a newspaper published within the county and having a general circulation therein. The notice must require sealed bids, to be accompanied by a certified check for at least 5 percent of the sum bid, to be deposited with the county clerk of the county on or before the date stated in the notice. If the notice is for the sale of the telephone system, no bids may be accepted by the board of county commissioners for a sum less than the amount of the appraisement of the telephone system. If the notice is for the lease of the telephone system, no bids may be accepted by the board of county commissioners for a sum less than an amount to realize not less than 7 percent per annum upon the value of the telephone system as so appraised. If the telephone system is leased, the board shall safeguard the county’s interest by demanding a bond for the faithful performance of the covenants contained in the lease. The board may reject any and all bids made for such a sale or lease.
Last modified: February 26, 2006