17-50-312. Acquisition, management, and disposal of property.
(1)
As used in this section:
Terms Used In Utah Code 17-50-312
Appraisal: A determination of property value.
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
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
Legislative: when used to describe the powers, duties, or functions of a county commission or council, refers to:
(a)
the power and duty to enact ordinances, levy taxes, and establish budgets; and
(b)
those powers, duties, and functions that, under constitutional and statutory provisions and through long usage and accepted practice and custom at the federal and state level, have come to be regarded as belonging to the legislative branch of government. See Utah Code 17-50-101
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(a)
“Adjusted present value” means:
(i)
the disposition price; plus
(ii)
the anticipated future value.
(b)
(i)
“Anticipated future value” means the total value of all reasonably anticipated future benefits to a county from the disposal of a significant parcel of real property, including:
(A)
increased tax revenues; and
(B)
job creation or maintenance.
(ii)
“Anticipated future value” does not include the present fair market value of the significant parcel of real property.
(c)
“Dispose” means to sell or lease.
(d)
“Disposition price” means the price a potential purchaser or lessee offers to pay in exchange for the sale or lease of a significant parcel of real property.
(2)
Subject to Subsection (5), a county may purchase, receive, hold, sell, lease, convey, or otherwise acquire and dispose of any real or personal property or any interest in such property if the action is in the public interest and complies with other law.
(3)
Any property interest acquired by the county shall be held in the name of the county unless specifically otherwise provided by law.
(4)
The county legislative body shall provide by ordinance, resolution, rule, or regulation for the manner in which property shall be acquired, managed, and disposed of.
(5)
(a)
Before a county may dispose of a significant parcel of real property, the county shall:
(i)
provide reasonable notice of the proposed disposition at least 14 days before the opportunity for public comment under Subsection (5)(a)(ii); and
(ii)
allow an opportunity for public comment on the proposed disposition.
(b)
Each county shall, by ordinance, define what constitutes:
(i)
a significant parcel of real property for purposes of Subsection (5)(a); and
(ii)
reasonable notice for purposes of Subsection (5)(a)(i).
(6)
(a)
A county may dispose of a significant parcel of real property in exchange for less than the present fair market value of the significant parcel of real property if the adjusted present value of the significant parcel of real property is equal to or greater than the present fair market value of the significant parcel of real property.
(b)
Subsection (6)(a) does not affect a county’s authority to dispose of a significant parcel of real property in a manner different from Subsection (6)(a) and in accordance with applicable law.
(7)
Before a county agrees to dispose of a significant parcel of real property, the county may require the potential purchaser or lessee to provide evidence that:
(a)
the potential purchaser’s or lessee’s offer is bona fide;
(b)
the potential purchaser or lessee has the ability to pay the disposition price; or
(c)
any future benefits to the county from the disposal of the significant parcel of real property are reasonably anticipated.
(8)
If a county receives an unsolicited offer to purchase or lease a significant parcel of real property:
(a)
the county is not required to consider the offer; and
(b)
a person may not consider the offer in determining the present fair market value of the significant parcel of real property, unless considering the offer is warranted under generally accepted standards of professional appraisal practice.
(9)
A county may presume that the present fair market value of a significant parcel of real property is equal to the average of two appraised values each of which is based upon fair market value and calculated by a unique, independent appraiser who is licensed or certified in accordance with Title 61, Chapter 2g, Real Estate Appraiser Licensing and Certification Act.
