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"'CITY OF KANNAPOLIS <br /> <br /> January 30, 1989 <br /> <br /> Cabarrus Country Utilities Advisory Board <br /> <br /> Policy Recommendation <br /> <br /> Subject: Purchase of County Utilities Inside City Limits <br /> <br /> When a'City annexes territory where water and sewer lines have <br /> previously been installed by the County, said lines shall be made <br /> available for purchase by the annexing City. Water transmission lines <br /> and sewer outfall lines passing through the annexed area shall be retained <br /> by the County. <br /> <br /> The City and County shall negotiate a purchase price for tile lines <br /> based on original cost. In the event the parties cannot agree on the <br /> purchase price, a fair price shall be established by an arJoi, tration <br /> committee consisting of three (3) persons: one selected by the City, <br /> one selected by the County, and a third selected by the previous selections. <br /> The decision of the co~nittee shall be binding on both parties. <br /> <br /> In the event there is ir~Jebteness on the water and sewer lines sold <br /> to the City, the CoUnty"shall place the proceeds of the sale into a <br /> sinking fund to assure payment of an appropriate share of principal and <br />.. interest. <br /> <br /> <br />