No real or personal property owned by or in the lawful possession of the City of Bromley shall at any time be leased, licensed or loaned to any person or entity unless same is accomplished by a written agreement, approved by a majority of the City Council and signed by the Mayor, which contains at a minimum the following terms and conditions:
(A) A specific description of the property;
(B) The duration of the agreement;
(C) The amount of the payments to be made to the city as a weekly, monthly or annual amount; and
(D) A provision that in the event of a breach of the terms of the agreement that the city through its officials or employees shall immediately upon such breach take all legal and necessary action to return possession of the property to the city.
(Ord. 3-2-22, passed 4-13-2022)