Before any sale, lease, or disposition of an electric light plant, gas plant, or waterworks plant of any city or town shall be made, the board of aldermen or other governing body shall pass a resolution declaring it to be, in the judgment of said board of aldermen or other governing body, to the best interests of the city or town that the electric plant, gas plant, or waterworks plant of such city or town shall be sold, leased, or disposed of and shall fix in said resolution the minimum price at which the sale, lease, or disposition should be had.
Structure Code of Alabama
Title 11 - Counties and Municipal Corporations.
Title 2 - Provisions Applicable to Municipal Corporations Only.
Chapter 50 - Public Utilities.
Article 4 - Sale, Lease, etc., of Electric, Gas or Waterworks Plants by Municipalities.
Section 11-50-140 - Definitions.
Section 11-50-141 - Authorized.
Section 11-50-142 - Passage of Resolution by Governing Body Providing for Sale, Lease, Etc.
Section 11-50-143 - Ordering of Special Election for Authorization of Sale, Lease, Etc.
Section 11-50-144 - Calling of Election.
Section 11-50-145 - Notice of Election.
Section 11-50-147 - Qualifications for Voting; Provision of Ballots; Conduct of Election Generally.
Section 11-50-148 - Form and Marking of Ballots.
Section 11-50-150 - Execution of Sale, Lease, etc., by Governing Body and Terms Thereof.
Section 11-50-151 - Purchaser to Assume Payment of Existing Bonded Indebtedness Upon Plant.