(1) (a) Before holding an election under Subsection 10-7-15(1)(a)(ii), the municipal legislative body shall open to bid the sale or lease of the property mentioned in Section 10-7-15. (b) The municipal legislative body shall cause notice of the bid process to be given by publication for at least three consecutive weeks: (i) in a newspaper published or having general circulation in the city or town; and (ii) as required in Section 45-1-101. (c) The notice described in Subsection (1) shall: (i) give a general description of the property to be sold or leased; (ii) specify the time when sealed bids for the property, or for a lease on the property, will be received; and (iii) specify the time when and the place where the bids will be opened.

(a) Before holding an election under Subsection 10-7-15(1)(a)(ii), the municipal legislative body shall open to bid the sale or lease of the property mentioned in Section 10-7-15.

(b) The municipal legislative body shall cause notice of the bid process to be given by publication for at least three consecutive weeks: (i) in a newspaper published or having general circulation in the city or town; and (ii) as required in Section 45-1-101.

(i) in a newspaper published or having general circulation in the city or town; and

(ii) as required in Section 45-1-101.

(c) The notice described in Subsection (1) shall: (i) give a general description of the property to be sold or leased; (ii) specify the time when sealed bids for the property, or for a lease on the property, will be received; and (iii) specify the time when and the place where the bids will be opened.

(i) give a general description of the property to be sold or leased;

(ii) specify the time when sealed bids for the property, or for a lease on the property, will be received; and

(iii) specify the time when and the place where the bids will be opened.

(2) (a) As used in this section and in Section 10-7-17, "responsible bidder" means an entity with a proven history of successful operation of an electrical generation and distribution system, or an equivalent proven history. (b) Subject to Subsection (2)(c), a municipal legislative body may receive or refuse to receive any bid submitted for the sale or lease of the electrical works and plant. (c) A municipal legislative body may not receive a bid unless the municipal legislative body determines that the bid is submitted by a responsible bidder.

(a) As used in this section and in Section 10-7-17, "responsible bidder" means an entity with a proven history of successful operation of an electrical generation and distribution system, or an equivalent proven history.

(b) Subject to Subsection (2)(c), a municipal legislative body may receive or refuse to receive any bid submitted for the sale or lease of the electrical works and plant.

(c) A municipal legislative body may not receive a bid unless the municipal legislative body determines that the bid is submitted by a responsible bidder.