105.04 EXCHANGE.

   Subject to the provisions on 105.02(c) herein and on the recommendation of the Finance Committee and the Utilities Committee of Council and the Planning Commission that real estate or interest therein owned by the City is no longer needed for any Municipal purpose and can be exchanged for other real estate or interest therein contiguous to public real estate or interest therein needed for expansion of a City service, which can be obtained by an exchange not requiring the expenditure of any money and which real estate or interest therein to be acquired, is determined by such Committees and by Council to be of equal or greater value, Council, by ordinance, adopted by the two-thirds affirmative vote of the members elected to Council, may approve and authorize the Mayor and the Director of Finance to make such exchange and execute the necessary documents to consummate the transaction.

(Ord. 2003-039. Passed 3-10-03.)