Utility to accept or reject offer to purchase The utility shall reply to such request by delivering its answer in writing to the mayor of the city, the selectboard of the town, or the trustees of the village, within 90 days following the receipt of the request. If the reply is in the negative or if the reply is not made within a period of 90 days, the utility waives any right it may have had to require the purchase of its plant and property by the municipality. If the reply is in the affirmative, it shall, within 90 days, submit the price and terms that it is willing to accept for all such plant and property, together with a detailed schedule of all the plant and property it proposes to sell to the municipality. Any plant and property shall at all reasonable times be open to the examination of the authorities and experts of the municipality or any other persons or boards charged with the duty of determining the fair value of the property. (Amended 2023, No. 85 (Adj. Sess.), § 406, eff. July 1, 2024.)
Vermont Legal Code