(A) The city is authorized to sell, lease as lessor or dispose of any of its real or personal property or any interest therein or any part thereof, as authorized in W. Va. Code 1-5-1 et seq. and 8-12-18, to the United States of America or any agency or instrumentality thereof, or to the state or any agency or instrumentality thereof, for an adequate consideration, without considering, alone the present commercial or market value of such property.
(B) In all other cases involving a lease, the city is hereby authorized to lease as lessor any of its real or personal property or any interest therein, or any part thereof, for a fair and adequate consideration and for a term not exceeding 50 years.
(C) Every sale or lease, as authorized by this section may occur, the sale or lease shall be authorized by resolution of the City Council, which resolution may specify terms and conditions which must be contained in such sale or lease; provided, that before any proposed lease is authorized by resolution of the City Council, a public hearing on the proposed sale or lease shall be held by the City Council after notice of the date, time, place and purpose of the public hearing has been published as a Class I legal advertisement in compliance with the provisions of W. Va. Code 59-3-1 et seq.
(Ord. 15-, passed 6-2-2015)