Washington SB5467 regulates the sale of surplus property by water-sewer districts, setting minimum sale values and public auction requirements.

Washington SB5467 mandates that water-sewer districts cannot sell surplus property for less than ninety percent of its value. For properties valued over $5,400, the value must be established by a written broker price opinion from three disinterested real estate brokers or a designated appraiser. The sale notice must be published weekly for two weeks in a local newspaper, detailing the property, sale terms, and conditions. If the property remains unsold after 120 days at the required value, the district may sell it at a public auction.

Washington SB5467 regulates the sale of surplus property by water-sewer districts, setting minimum sale values and public auction requirements.

Washington SB5467 mandates that water-sewer districts cannot sell surplus property for less than ninety percent of its value. For properties valued over $5,400, the value must be established by a written broker price opinion from three disinterested real estate brokers or a designated appraiser. The sale notice must be published weekly for two weeks in a local newspaper, detailing the property, sale terms, and conditions. If the property remains unsold after 120 days at the required value, the district may sell it at a public auction.