Ordinance or Resolution Providing for Appraisal of Nonsurplus Municipally Owned Utility Property in Indiana

Annotated Indiana Code
Title 8. Utilities and Transportation
Article 1.5. Municipal Utilities
Chapter 2. Transfer, Acquisition, and Improvement of Utilities by Municipalities

8-1.5-2-4 Sale of nonsurplus property; ordinance or resolution providing for appraisal

Sec. 4. Whenever the municipal legislative body determines to sell or otherwise dispose of nonsurplus municipally owned utility property, it shall by ordinance or resolution provide for the following:

(1) The appointment, as follows, of three (3) residents of Indiana to serve as appraisers:

    (A) One (1) disinterested person who is an engineer licensed under IC 25-31-1.

    (B) One (1) disinterested appraiser licensed under IC 25-34.1.

    (C) One disinterested person who is either:

         (i) an engineer licensed under IC 25-31-1; or

         (ii) an appraiser licensed under IC 25-34.1.

(2) The appraisal of the property.

(3) The time that the appraisal is due.

Cite as Ind. Code Ann. § 8-1.5-2-4