All disposal, leases and/or subleases of public property of the city shall be made, as nearly possible, under the conditions and limitations that follow:
A. Whenever property is surplus, unused, obsolete, unsuitable, or otherwise no longer needed and the estimated reasonable value of the property is less than five hundred dollars ($500.00), the city administrator may declare the property surplus and may authorize the disposition of the property. Property with an estimated reasonable value of five hundred dollars ($500.00) or more must be declared as surplus property by the city council at a regular council meeting.
B. The city shall advertise through public notice the sale of any personal property prior to the sale of the property.
C. The disposition of city surplus property may be by public sale, exchange, option to purchase, lease, lease with an option to purchase, trade in, public auction, sale upon public advertisement by sealed bid, or by any other lawful and reasonable means.
D. No disposition of surplus city property shall be made for less than a fair market value and consideration unless the city council determines that it is in the best public interest that disposition of city surplus property be made for less than fair market value.
E. The city council shall designate that the city administrator shall maintain records of the manner and date of the disposal of all city surplus property as well as the amount and nature of consideration received for such property.
F. The city, at the direction of the city council, may lease or sublease any of the city property under fair and appropriate conditions, considering intended use and value, and the best interests of the city. (Ord. 2014-2, 10-14-2014)