Bill > SB5467

This bill modifies existing laws concerning how water-sewer districts, which are local government entities responsible for providing water and sewer services, can sell their surplus property, meaning property they no longer need. Specifically, it increases the threshold for when a district must provide public notice before selling personal property from $2,500 to $5,400, and it raises the limit for private sales of real property from $5,000 to $7,500, after which a more formal appraisal process is required. The bill also clarifies that if real property cannot be sold at 90% of its estimated or appraised value after 120 days, the district can then sell it at the highest price obtainable through a public auction.