100.200. Sales of industrial development property acquired with revenue bonds.
Sales of industrial development property acquired withrevenue bonds.
100.200. Any municipality may sell or otherwise dispose ofthe property or buildings or plants, acquired with the proceedsfrom the sale of revenue bonds issued under sections 100.100 to100.190, to private persons or corporations for manufacturing orindustrial development purposes. The terms and method of thesale or other disposal shall be established so as to reasonablyprotect and promote the economic well-being and the industrialdevelopment of the municipality, but in no case shall theproperty or buildings or plants be sold for an amount less thanone which shall be sufficient to retire all outstanding revenuebonds which were sold for the purchase or construction of theproperty or buildings or plants.
(L. 1967 p. 159 § 71.855, A.L. 1983 S.B. 316)Effective 6-22-83