BILL REQ. #:  S-1588.1 

READ FIRST TIME 02/20/03.   

     AN ACT Relating to the sale of property by water-sewer districts; and amending RCW 57.08.016.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1   RCW 57.08.016 and 1999 c 153 s 5 are each amended to read as follows:
     (1) There shall be no private sale of real property where the initial appraised value exceeds the sum of two thousand five hundred dollars. An initial appraised value shall be determined by the board of commissioners based upon an appraisal from a real estate appraiser as it considers appropriate. Subject to the provisions of subsection (2) of this section, no real property of the district shall be sold for less than ninety percent of the value ((thereof as)). Where the initial appraised value exceeds two thousand five hundred dollars, a formal appraised value shall be established by a written appraisal made not more than six months prior to the date of sale by three disinterested real estate brokers licensed under the laws of the state or by three professionally designated real estate appraisers as defined in RCW 74.46.020. The appraisal shall be signed by the appraisers and filed with the secretary of the board of commissioners of the district, who shall keep it at the office of the district open to public inspection. Any notice of intention to sell real property of the district shall recite the appraised value ((thereof)).
     (2) If no purchasers can be obtained for the property at ninety percent or more of its appraised value after one hundred twenty days of offering the property for sale, the board of commissioners of the district may adopt a resolution stating that the district has been unable to sell the property at the ninety percent amount. The district then may sell the property at the highest price it can obtain at public auction. A notice of intention to sell at public auction shall be published once a week for two consecutive weeks in a newspaper of general circulation in the district. The notice shall describe the property, state the time and place at which it will be offered for sale and the terms of sale, and shall call for bids, fix the conditions thereof, and reserve the right to reject any and all bids for good cause.