Section 11-54-103 - Sale of previously purchased item - LimitationsA local government entity that sells a procurement item to a buyback purchaser for an amount that exceeds the amount the local government entity paid for the procurement item:
(1) shall require the buyback purchaser to pay cash for the procurement item;(2) may not accept the excess repurchase amount in the form of a credit, discount, or other incentive on a future purchase that the local government entity makes from the buyback purchaser; and(3) may not use the excess repurchase amount to acquire an additional procurement item from the person who paid the excess repurchase amount.Added by Chapter 180, 2016 General Session ,§ 3, eff. 5/10/2016.