Rationale:
In the Confederation of Democratic Sims, it is the responsibility of the CDS government to ensure that the estate is financially managed in a responsible manner with an overall goal of keeping CDS in the black.
1) Tenancy fluctuations and long term vacancies can negatively impact the financial health of the estate. This bill establishes parameters for selling a CDS region if it remains vacant, in the red and a financial liability.
If the CDS fails to generate more than 90% of its monthly tier expense for and a region fails to generate more than 75% of its monthly tier expense for more than three consecutive months, or the CDS as a whole fails to generate more than 90% of its monthly expenses for six consecutive months.
2) The Chancellor or anyone is to notify the RA for review to determine if it is in the best financial interests of the CDS to divest of a region.
If the decision is made to sell, the Chancellor will determine the sale price of the region based on the average market sale price for regions of that type at that time. The Chancellor must give 90 days notice to all CDS citizens of the intention to sell a region both on the CDS forum and in an in-world CDS group notice.
3) The Chancellor must give 90 days notice of the sale to all citizens of the region via notecard. In the case of group owned land, the Chancellor will provide notice via notecard to the group owner.
Citizen owners’ responsibilities to abandon land and how to collect refund of tier balance.
4) Citizens of the region being sold are responsible for abandoning their land and may subsequently notify the Executive (Chancellor or Estate Manager) to issue a refund of their tier balance from the tier meters before the date of the sale. Otherwise they will be expropriated and refunded on a certain deadline to be announced by the Chancellor.
5)Three days prior to the sale date, the Chancellor will announce his/her intentions to sell the sim in the CDS Group inworld and on the CDS forums.
6) On the scheduled date of sale, the Chancellor will clear the region completely of all objects before placing the region for sale.
7) The Chancellor can confer the responsibility of clearing the region on a CDS estate manager
8.) At the Chancellor’s direction, Rudeen must place the region up for sale in the For Sale By Owner group. The Chancellor is responsible for writing up the text for the sales notice and for giving it to Rudeen.
9) Money from the sale of the region shall remain in the general CDS account (Rudeen).
10) Neufriedstadt is excluded from this act. Given the history of the region and the significance to CDS, Neufreistadt will remain until it is no longer able to pay for itself or SL service ends.