65- 407 C.M.R. ch. 691, § 3

Current through 2024-51, December 18, 2024
Section 407-691-3 - Sale at price below market value
A. Not considered unreasonable. A sale or transfer of water resource land shall not be considered unreasonable or imprudent solely by reason of its sale at a price below market value provided that the utility has fully complied with all provisions of this rule and 35-A M.R.S.A. §6109.
B. Use restrictions. Before the sale or transfer of water resource land under this rule at a price below market value, the utility must certify, or provide evidence to the Commission that the land will be transferred subject in perpetuity to such easements or deed restrictions, enforceable at law, as are necessary to restrict the land to the uses specified in 35-A M.R.S.A. §6109(3).

65- 407 C.M.R. ch. 691, § 3