Utah Code 10-7-5. Limitations on lease or purchase
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Utah Code 10-7-5
- City: means a municipality that is classified by population as a city of the first class, a city of the second class, a city of the third class, a city of the fourth class, or a city of the fifth class, under Section
10-2-301 . See Utah Code 10-1-104 - Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Town: means a municipality classified by population as a town under Section
10-2-301 . See Utah Code 10-1-104
It is not lawful for any city or town to lease or purchase any part of such waterworks less than the whole, or to lease the same, unless the contract therefor shall provide that the city or town shall have control thereof and that the net revenues therefrom shall be divided proportionately to the interests of the parties thereto; said contract shall also provide a list of water rates to be enforced during the term of such contract.