HB 1041

Abstract

Amends the Metropolitan Water Reclamation District Act. Provides that the District may lease certain property to others for an initial annual rental of less than 6% of the parcel's fair market value if the parcel contains a special development impediment. Provides that the initial annual rental amount shall be for the first 10 years of the lease. Provides that every lease must be awarded to the highest bidder upon free and open competitive bids. Provides that, if property is leased for an annual rental of less than 6% of the parcel's fair market value because of a special development impediment, the first redetermination of the fair market value shall not occur until the twentieth year of the lease (instead of the tenth year). Provides that the District may lease property to certain parties upon mutually agreeable terms, regardless of whether those terms comply with the provisions of the Act. Makes other changes. Effective immediately.