No real or personal property owned by or in the name of the city or any department or agency thereof may be sold, exchanged, transferred, or leased until the sale, exchange, transfer, or lease has been approved by the Common Council. The approval shall be set forth in a resolution duly adopted by the Common Council at a regular or special meeting. The approval required herein is in addition to the approval of the Common Council required by I.C. 36-1-11-3(c).
(Prior Code, § 42.01) (Ord. 3563, passed - -1992) Penalty, see § 42.999