Vermont Statutes
Chapter 79 - Municipal Plants
§ 2907. Utility to accept or reject offer to purchase

§ 2907. Utility to accept or reject offer to purchase
The utility shall reply to such request by delivering its answer in writing to the mayor of the city, the selectboard of the town, or the trustees of the village, within 90 days of the receipt of such request. If the reply is in the negative or if the reply is not made within such period of 90 days as aforesaid, the utility thereby waives any right it may have had to require the purchase of its plant and property by the municipality. If the reply is in the affirmative, it shall, within 90 days, submit the price and terms which it is willing to accept for all such plant and property, together with a detailed schedule of all the plant and property it proposes to sell to such municipality. Such plant and property shall at all reasonable times thereafter be open to the examination of the authorities and experts of the municipality or any other persons or boards charged with the duty of determining the fair value of such property.

Structure Vermont Statutes