§54-18 Purchase and sale of waterworks property; contracts. The board of water supply may contract for work, and purchase supplies, materials, or equipment, when the cost of the same can be met from the revenues or reserves of the waterworks, or from the proceeds of bonds authorized for the waterworks. All contracts shall be executed in the name of the board and shall be signed by the chairperson or acting chairperson of the board. The board may sell or otherwise dispose of any buildings, materials, supplies, or equipment, under its control, when no longer used or useful for its purpose; provided that the buildings, materials, supplies, or equipment shall first be offered at its depreciated or market value to the council. All documents of transfer of the buildings and personal property shall be executed in the name of the board and shall be signed by the chairperson or acting chairperson thereof. All proceeds of the sale shall be deposited with the county treasurer and be by the county treasurer placed to the credit of the board. [L 1961, c 155, pt of §1; Supp, §145A-8; HRS §54-18; gen ch 1985, 1993]
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