No real estate shall be purchased or leased by or for the City, except in pursuance of an ordinance passed by a majority vote of all members of Council. The ordinance shall contain the following:
(a) The purpose for which the real estate to be purchased or leased is to be used;
(b) A description of the real estate to be purchased or leased;
(c) The price or rental to be paid for the real estate;
(d) The fund from which the purchase price or rental is to be paid;
(e) The kind of conveyance or lease to be accepted by the City.
(Ord. No. 2069-58. Passed 12-15-58, eff. 12-17-58)