133.11 SALE OR LEASE OF PROPERTY; REVERSION OF ASSETS UPON DISSOLUTION.

In the event the board of the Spencer Development Authority shall so determine, the Authority may lease or sell all of its property and equipment on such terms and conditions as the Authority may fix and determine. Upon the dissolution of the Authority, all of its assets and property shall revert to and become the property of the City of Spencer.

(Passed 4-5-90.)

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