S.B.
190
ACQUISITION OF A BILLBOARD BY EMINENT DOMAIN
senate floor
Amendments
Amendment 1 March 5, 2009 7:13 am
Senator Wayne L. Niederhauser
proposes the following amendments:
1. Page
3, Lines 79 through 80
:
79
the municipality shall pay just compensation
{
for outdoor advertising and all associated property
80
rights pertaining to the outdoor advertising
}
to the billboard owner
in an amount that is the greater
of:
2. Page
3, Lines 86 through 89
:
86
(A) the
{
consideration of the
}
present value, at a fair market capitalization rate, of the
greater of:
87
(I)
{
past
}
actual annual
revenue, less
annual
rent expense; and
88
(II) projected future
annual
revenue, less
annual
rent expense;
89
(B) any
{
property
}
other
right associated with the billboard structure that is acquired;
3. Page
4, Lines 91 through 94
:
91
(D) damage to the economic unit
{
consisting of:
92
(I) the billboard structure actually taken; and
93
(II) remaining property, contiguous and not contiguous, to the outdoor advertising sign
94
company's interest
}
described in Subsection 72-7-510(3)(b), of which the billboard owner's interest
is a part
.
4. Page
6, Lines 175 through 176
:
175
shall pay just compensation
{
for outdoor advertising and all associated property rights pertaining
176
to the outdoor advertising
}
to the billboard owner
in an amount that is the greater of:
5. Page
6, Line 182 through Page 7, Line 185
:
182
(A) the
{
consideration of the
}
present value, at a fair market capitalization rate, of the
greater of:
183
(I)
{
past
}
actual annual
revenue, less
annual
rent expense; and
184
(II) projected future
annual
revenue, less
annual
rent expense;
185
(B) any
{
property
}
other
right associated with the billboard structure that is acquired;
6. Page
7, Lines 187 through 190
:
187
(D) damage to the economic unit
{
consisting of:
188
(I) the billboard structure actually taken; and
189
(II) remaining property, contiguous and not contiguous, to the outdoor advertising sign
190
company's interest
}
described in Subsection 72-7-510(3)(b), of which the billboard owner's interest
is a part
.
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