§ 10059. — 10059. (Enacted by Stats. 1951, Ch. 764.)

California § 10059.

• Jurisdiction: California
• Code PUC: Public Utilities Code - PUC
• Div. 5.: DIVISION 5. UTILITIES OWNED BY MUNICIPAL CORPORATIONS
• Ch. 1.: CHAPTER 1. Acquisition, Operation, and Sale of Utilities
• Art. 2.: ARTICLE 2. Sale and Disposal

Text

When a bid is accepted by the legislative body of the municipal corporation, the legislative body may by resolution authorize its mayor, or president of its board of trustees, or other chief executive officer, and its clerk to execute, acknowledge, and deliver on behalf of the municipal corporation, in its name and under its corporate seal, a deed conveying the public utility to the successful bidder upon receiving from him in cash the full amount of the bid and the promise of the bidder to continue to operate the public utility. The deed shall operate to convey to the successful bidder all of the municipality’s right, title, interest, and estate in and to the public utility described in the deed.

Legislative History

Enacted by Stats. 1951, Ch. 764.