AZ HB2558

Amends Arizona Revised Statutes section 9-403 regarding the sale of municipal real property valued at more than $1.5 million.

Requires a special election to be held within corporate limits of the city or town before real property exceeding $1.5 million in value can be sold.

Ballots must include a description of the property and the governing body's reasons for the proposed sale, limited to one hundred words in eight-point type.

Allows the governing body to sell the property at public auction to the highest bidder for cash if a majority of voters approve, with the right to reject any or all bids.