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The City Council of the City of Guthrie shall have the power to purchase and acquire any real property, the acquisition of which it deems to be in the best interest of the City, and shall have the power to sell and dispose of any real property now or hereafter owned by said City, provided that the sale of any real property must be authorized by Ordinance passed by the City Council in the same manner as any other Ordinance. No such Ordinance approving the sale of any real property shall become effective for thirty (30) days after the passage and approval of the Ordinance; provided that no contrary provision for emergency passage of an Ordinance shall apply to this Article. Within the thirty (30) day period, the question of the sale of the real property involved may be put to a vote of the people upon the filing with the Clerk of the City of Guthrie of a petition calling for such vote. Said petition shall contain signatures of qualified voters residing within the territorial limits of the City of Guthrie of a number equal to at least twenty-five percent (25%) of the total electors voting at the last preceding City general election. Where the value of the real property sought to be sold exceeds the sum of Twenty-five Thousand Dollars ($25,000.00), the question of its sale shall first be submitted to the electors of said City at an election called for that purpose; and the question submitted thereat shall be substantially as follows:
“Shall the City Council of the City of Guthrie sell (the property to be sold, accurately describing the same), for (the value to be received by the City of Guthrie, precisely stated).”
If the majority of the votes cast in said election shall be in the affirmative, then the City Council shall have the power hereby conferred, but not otherwise.
No real property may be disposed of by gift unless such gift is valid within the constraints of the Oklahoma State Constitution and unless such gift is submitted to a vote of the electors of the City in the same manner as provided for herein for property exceeding the value of Twenty-five Thousand Dollars ($25,000.00). “Value,” as used herein, shall mean market value as defined by law.