Nevada Revised Statutes 710.159 – Sale or lease of system: Appraisal of value of system; confidentiality of appraisal; contract to market and sell or lease; negotiations; conditions for accepting offers; power to reject offers; notice of proposed sal…
1. If, at the primary or general election, it is shown that a majority of the ballots cast favors the sale or lease of the telephone system, or the board of county commissioners has adopted a resolution pursuant to paragraph (b) of subsection 1 of NRS 710.151, the board of county commissioners shall contract with a reputable and qualified expert in rural telecommunications to appraise the value of the telephone system. Except as otherwise provided in NRS 239.0115, the appraisal is confidential and must not be disclosed before the completion of the sale or lease of the telephone system.
Terms Used In Nevada Revised Statutes 710.159
- Appraisal: A determination of property value.
- Contract: A legal written agreement that becomes binding when signed.
- county: includes Carson City. See Nevada Revised Statutes 0.033
- 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
2. Upon the return of the appraisal, the board of county commissioners shall contract with a reputable and qualified expert in rural telecommunications, other than the expert who provided the appraisal pursuant to subsection 1, to market and sell or lease the telephone system in a commercially reasonable manner. After entering into the contract, the board or its authorized representatives may enter into negotiations for the sale or lease of the telephone system. If the notice is for the sale of the telephone system, the board shall not accept a sum less than the amount of the appraisal of the telephone system. If the telephone system is leased, the board shall safeguard the county’s interest by demanding a bond for the faithful performance of the covenants contained in the lease. The board may reject any and all offers made for such a sale or lease.
3. The board of county commissioners is not obligated to accept the highest bid for the purchase or lease of the telephone system and shall consider, without limitation:
(a) The return on investment to the county;
(b) The preservation of existing jobs and future employment opportunities within the county;
(c) The preservation of future revenue generated by the telephone system within the county; and
(d) The likelihood of local control and management of the telephone system.
4. Not less than 3 days before the board of county commissioners votes to accept or reject a sale or lease of the telephone system, the board shall cause a notice of the proposed sale or lease to be published at least once in a newspaper published in the county, or if no such newspaper is published, then a newspaper published in this State that has a general circulation in the county.
5. A meeting of the board of county commissioners held to consider the general objectives for a sale or lease, including, without limitation, terms and conditions acceptable to the board, is not subject to the provisions of chapter 241 of NRS. The provisions of this subsection do not apply to any vote by the board to seek offers or to accept an offer.