Section 12.05. Sales Of Real Property.
No real property of the city shall be disposed of except by ordinance or resolution. The proceeds of any such sale shall be used as far as possible to retire outstanding indebtedness incurred by the city in the purchase, construction or improvement of this or other property for the same public purpose; but if there be no such outstanding indebtedness, then the council may by a resolution adopted by a four-fifths vote designate some other public use for such proceeds.