A. Except as otherwise provided by this article or another provision of law, all disposals of city land shall be for the fair market value of the interest disposed of. The city may accept in exchange for city land any consideration of sufficient value not prohibited by law.
B. The city may dispose of city land to the United States, the State of Alaska or any political subdivision thereof, or a non-profit corporation or association, or to an individual or entity as settlement of an asserted land claim against the city, for less than the fair market value of the interest disposed of, upon the finding by the council, that the disposal will allow the use of the land for a public purpose of result beneficial to the city.
C. The city may exchange land with any person or organization for less than fair market value or without a determination of fair market value when the city council finds that the land to be received by the city in the exchange has a unique value or benefit to the city or will serve a specific need of the city.
(Ord. 86-06 § 3 (part), 1986; Ord. 92-8 § 2, 1992)