The municipality is a body corporate and politic. It shall have the power to sue and be sued; to purchase, lease and lease with option to buy; to acquire property by gift or devise; to hold real and personal property within or without the limits of the municipality and real estate sold to satisfy unpaid tax obligations for the use of the municipality in such manner and upon such terms and conditions as may be deemed in the best interests of the municipality; to sell, exchange or lease any personal or real property owned by the municipality, including park land, in such manner and upon such terms and conditions as may be deemed in the best interests of the municipality; provided that, real estate owned by the municipality may be conveyed without consideration to the state or to the state’s Armory Board for state armory sites or, if acquired for state armory sites, shall be conveyed in the manner strictly as provided in Neb. RS 18-1001 through 18-1006; to make all contracts and do all other acts in relation to the concerns of the municipality as may be necessary in the exercise of its corporate powers; and to exercise such other and further powers as may be conferred by law.
(2005 Code, § 1-103)