Section 100.200

Title VII CITIES, TOWNS AND VILLAGES

Chapter 100

Effective - 22 Jun 1983, see footnote   

  100.200.  Sales of industrial development property acquired with revenue bonds. — Any municipality may sell or otherwise dispose of the property or buildings or plants, acquired with the proceeds from the sale of revenue bonds issued under sections 100.100 to 100.190, to private persons or corporations for manufacturing or industrial development purposes.  The terms and method of the sale or other disposal shall be established so as to reasonably protect and promote the economic well-being and the industrial development of the municipality, but in no case shall the property or buildings or plants be sold for an amount less than one which shall be sufficient to retire all outstanding revenue bonds which were sold for the purchase or construction of the property or buildings or plants.

­­--------

(L. 1967 p. 159 § 71.855, A.L. 1983 S.B. 316)

Effective 6-22-83