(a) In accordance with G.S. 160A-266(c), the Town Manager is hereby designated to declare surplus any personal property valued at less than $5,000 for any one item or group of items, to set its fair market value, and to convey title to the property for the Town. The personal property may be either sold or exchanged.
(b) On the first day of February of each year, the Town Manager shall report in writing to the Mayor and Board of Aldermen on any property disposed of under such authorization from July 1 through December 31 of the previous year, and shall on the first day of August report in writing to the Mayor and Board of Aldermen on any property disposed of under such authorization from January 1 through July 30 of that year. The written report shall generally describe the property sold or exchanged, and the amount of money or other consideration received for each sale or exchange since the last such report submitted.
(Ord. of 7/9/02)