(A)   The Town Manager is hereby authorized to dispose of any surplus personal property owned by the town, whenever he or she determines, in his or her discretion, that:
      (1)   The item or group of items has a fair market value of less than  $5,000;
      (2)   The property is no longer necessary for the conduct of public business; and
      (3)   Sound property management principles and financial considerations indicate that the interests of the town would best be served by disposing of the property.
   (B)   The Town Manager may dispose of any such surplus personal property by any means he or she judges reasonably calculated to yield the highest attainable sale price in money or other consideration, including but not limited to the methods of sale provided in Article 12 of G.S. Chapter 160A. Such sale may be public or private, with or without notice and minimum waiting period.
   (C)   The surplus property shall be sold to the party who tenders the highest offer, or exchanged for any property or services useful to the town if greater value may be obtained in that manner. The Town Manager is hereby authorized to execute and deliver any applicable title documents. If no offers are received within a reasonable time, the Town Manager may retain the property, obtain any reasonably available salvage value, or cause it to be disposed of as waste material. No surplus property may be donated to any individual or organization except by resolution of the Town Council.
   (D)   For all property sold under the authority of this section, the Town Manager shall keep a record, which shall generally describe:  the property sold or exchanged; to whom it was sold, or with whom exchanged; and the amount of money or other consideration received for each sale or exchange.
   (E)   This section is enacted pursuant to G.S. § 160A-266(c).
(Ord. passed 3-2-98)