The disposal of village property must comply with the requirements of state law and the following procedures:
A. Property Valued At Five Hundred Dollars Or Less: The village president has authority to dispose of village property having an estimated fair market value of five hundred dollars ($500.00) or less where such property is no longer required for village purposes. Disposal may be by sale, donation to another public body or to a charitable, not for profit organization, or discarding such property as substantially worthless.
B. Property Valued In Excess Of Five Hundred Dollars: Any village property having an estimated fair market value in excess of five hundred dollars ($500.00) may only be disposed of by approval of the corporate authorities. Disposal must be by sale unless otherwise expressly authorized by the corporate authorities. (Ord. O-15-15, 9-15-2015)