11-54 - Local Government Sale of Procurement Item

Title 11 > 11-54

Sections (3)

11-54-101 - Title.

This chapter is known as “Local Government Sale of Procurement Item.”

11-54-102 - Definitions.

As used in this chapter: 11-54-102(1) “Buyback purchaser” means a person who buys a procurement item from the local government entity to which the person previously sold the procurement item. 11-54-102(2) “Excess repurchase amount” means the difference between:the amount a buyback purchaser pays to a local government entity to purchase a procurement item that the buyback purchaser previously sold to the local government entity; andthe amount the local government entity paid to the buyback purchaser to purchase the procurement item. 11-54-102(3) “Local government entity” means a county, city, town, special district, special service district, community reinvestment agency, conservation district, or school district that is not subject to Title 63G, Chapter 6a, Utah Procurement Code. 11-54-102(4) “Procurement item” means the same as that term is defined in Section 63G-6a-103.

11-54-103 - Sale of previously purchased item — Limitations.

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: 11-54-103(1) shall require the buyback purchaser to pay cash for the procurement item; 11-54-103(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 11-54-103(3) may not use the excess repurchase amount to acquire an additional procurement item from the person who paid the excess repurchase amount.