The Town Manager is hereby authorized, pursuant to G.S. § 160A-265, to dispose of any surplus personal property owned by the town, whenever he or she determines, in his or her discretion, that:
(A) The item or group of items has a fair market value of less than an amount set by the town;
(B) The property is no longer necessary for the conduct of public business; and
(C) Sound property management principles and financial considerations indicate that the interests of the town would best be served by disposing of the property.
(Prior Code, § 23.01)