(A) Leases or other conveyances, except construction and utility easements, for a specified term of an interest in real property to the city or amendments to such leases or other conveyances shall be submitted to the Council by the Mayor after negotiation when the term of the lease or other conveyance is proposed to be in excess of six months and the income or other consideration to be paid by the city is proposed to be in excess of $500 per month.
(B) All proposals which are submitted to the Council in accordance with the requirements of this section shall be supported by a message setting out the circumstances, benefits, responsibilities and advantages relative thereto.
(C) The Council may approve, take no action or disapprove the proposal.
(D) If the Council disapproves by a majority vote of the members present and voting, the proposal may not be entered into.
(E) The Mayor may withdraw the proposal at any time from the Council and may present revisions thereof. In the event of withdrawal, the proposed lease or other such conveyance shall be a nullity. In the event of revision, the provisions of this section shall apply to the same extent as if a new proposal were being submitted.
('74 Code, § 5-3-6) (Ord. 27-1990; Am. Ord. 22-2007)