(1) (a) is for an amount equal to or exceeding the appraised value of the property to be sold, as determined under Subsection 10-7-15(1); or (b) in the judgment of the municipal legislative body, is an adequate price for the property; and
(a) is for an amount equal to or exceeding the appraised value of the property to be sold, as determined under Subsection 10-7-15(1); or
(b) in the judgment of the municipal legislative body, is an adequate price for the property; and
(2) equals or exceeds the total principal and interest on any outstanding bonds and other indebtedness issued for the purpose of constructing the works or plant.
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