Whenever the municipal legislative body or the municipal executive determines to sell or otherwise dispose of nonsurplus municipally owned utility property, it shall provide for the following in a written document that shall be made available for inspection and copying at the offices of the municipality's municipally owned utility in accordance with IC 5-14-3 .

1. (1) The appointment, as follows, of three (3) residents of Indiana to serve as appraisers:

   1. (A) One (1) disinterested person who is an engineer licensed under IC 25-31-1 .
   2. (B) One (1) disinterested appraiser licensed under IC 25-34.1 .

   3. (C) One disinterested person who is either:

      1. (i) an engineer licensed under IC 25-31-1 ; or
      2. (ii) an appraiser licensed under IC 25-34.1 .
2. (2) The appraisal of the property.

3. (3) The time that the appraisal is due.

   As added by Acts 1982, P.L.74, SEC.1. Amended by P.L.113-2006, SEC.2; P.L.103-2008, SEC.2; P.L.68-2015, SEC.2; P.L.98-2016, SEC.7.