Personal property having historical significance which is no longer needed for Municipal purposes may be sold to a duly organized, non profit, historical organization by the department or division head having supervision or management thereof, upon written approval of the Mayor. A description of the item sold, its general condition at the time of sale, the name of the purchaser and the purchase price shall be maintained in the Mayor's office and shall be available for public inspection.
A contract of sale shall be prepared which shall provide that if the historical organization purchasing the property ceases to exist as an operating museum, the item will be returned to the Village free and clear, at no expense to the Village. Should the organization every desire to dispose of the item for any reason, the Village would receive the right of first refusal to buy the property at the actual invested cost of the organization (not the appraised value).
(Ord. 1992-26. Passed 4-15-92.)