(A) Pursuant to the "Home Rule Powers" of the village, the village may convey any surplus real estate when in the opinion of three-fourths of the Board of Trustees then holding office it is determined at any regular meeting or at any special meeting called for that purpose, by resolution, that the property in question is no longer necessary or useful to, or for the best interests of the village.
(B) Upon approval of the resolution providing for the conveyance of the surplus real estate the Board of Trustees shall direct the Village Comptroller/Finance Manager, with the advice of the Village Attorney/Corporation Counsel, to sell or dispose of the surplus real estate pursuant to the following terms and conditions.
(1) The village shall obtain a broker price opinion (hereinunder referred to a BPO), said BPO shall be made available for public inspection.
(2) The subject property shall be listed on the open market with a licensed real estate broker, approved by the Board of Trustees.
(3) The sale of the property shall be conducted pursuant to any one of the following:
(a) Be conducted pursuant to sealed bid;
(b) Be sold pursuant to negotiated sale;
(c) Be sold pursuant to public auction; or
(d) Be sold in any other manner approved by the Board of Trustees.
(C) The highest and best offer shall be presented to the Board of Trustees in the form of a real estate contract for approval.
(Ord. 11-42, passed 9-14-11; Am. Ord. 13-22, passed 8-21-13; Am. Ord. 13-38, passed 12-18-13)