NRS710.159. Sale or lease of system: Appraisal of value of system; confidentiality of appraisal; notice of sale or lease; negotiations; conditions for accepting offers; power to reject offers.

      1.  If, at the primary, general or special election, it is shown that a majority of the ballots cast favors the sale or lease of the telephone system, 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.

      2.  Upon the return of the appraisal, the board of county commissioners shall advertise the sale or lease, for a term of years agreed upon by the board, of the telephone system by notice published at least once a week for 5 consecutive weeks by five weekly insertions a week apart in a newspaper published within the county and having a general circulation therein. After publication of the first such notice, 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 notice is for the lease of the telephone system, the board shall not accept a sum less than an amount to realize not less than 7 percent per annum upon the value of the telephone system as so appraised. 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.

      (Added to NRS by 1963, 543; A 1993, 1094; 2005, 291; 2007, 2163)