§54-18  Purchase and sale of waterworksproperty; contracts.  The board of water supply may contract for work, andpurchase supplies, materials, or equipment, when the cost of the same can bemet from the revenues or reserves of the waterworks, or from the proceeds ofbonds authorized for the waterworks.  All contracts shall be executed in thename of the board and shall be signed by the chairperson or acting chairpersonof the board.

The board may sell or otherwise dispose of anybuildings, materials, supplies, or equipment, under its control, when no longerused or useful for its purpose; provided that the buildings, materials,supplies, or equipment shall first be offered at its depreciated or marketvalue to the council.  All documents of transfer of the buildings and personalproperty shall be executed in the name of the board and shall be signed by thechairperson or acting chairperson thereof.  All proceeds of the sale shall bedeposited with the county treasurer and be by the county treasurer placed tothe credit of the board. [L 1961, c 155, pt of §1; Supp, §145A-8; HRS §54-18;gen ch 1985, 1993]