Section 407-691-5 - Right of first refusalA. Assignable right of first refusal. The municipality in which the water resource land is located shall have an assignable right of first refusal to purchase the water resource land as provided by 35-A M.R.S.A. §6109(5).B. No binding contract for the sale of the water resource land under this chapter shall be concluded with any buyer unless the water resource land has been offered to the municipality or municipalities in which the water resource land is located under the same price, terms, and conditions that have been offered to the other buyer.C. Once an offer to the municipality or municipalities has been made under section 5(B) above, the municipality shall have at least 90 days to either accept or reject the offer upon the same terms and conditions of an offer to or from another buyer. The municipality or municipalities may apply to the Commission for an extension of the ninety day period. The Commission, may, in its discretion, approve such an extension for a reasonable period of time.65- 407 C.M.R. ch. 691, § 5