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Current as of January 01, 2025 | Updated by Findlaw Staff
A local government entity that sells a procurement item to a buyback purchaser for an amount that exceeds the amount the local government entity paid for the procurement item:
(1) shall require the buyback purchaser to pay cash for the procurement item;
(2) may not accept the excess repurchase amount in the form of a credit, discount, or other incentive on a future purchase that the local government entity makes from the buyback purchaser; and
(3) may not use the excess repurchase amount to acquire an additional procurement item from the person who paid the excess repurchase amount.
Cite this article: FindLaw.com - Utah Code Title 11. Cities, Counties, and Local Taxing Units § 11-54-103. Sale of previously purchased item--Limitations - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-11-cities-counties-and-local-taxing-units/ut-code-sect-11-54-103/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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