(a) The members of a public body may hold an executive session only after a majority of a quorum of the public body determines, by a roll call vote, to hold an executive session and only at a regular or special meeting for the sole purpose of the consideration of any of the following matters:
(1) To consider the appointment, employment, dismissal, discipline, promotion, demotion or compensation of a public employee or official, or the investigation of charges or complaints against a public employee, official, licensee or regulated individual, unless the public employee, official, licensee or regulated individual requests a public hearing. Except as otherwise provided by law, no public body shall hold an executive session for the discipline of an elected official for conduct related to the performance of the elected official's official duties or for the elected official's removal from office. If a public body holds an executive session pursuant hereto, the motion and vote to hold that executive session shall state which one or more of the approved purposes listed herein are the purposes for which the executive session is to be held, but need not include the name of any person to be considered at the meeting.
(2) To consider the purchase of property for public purposes, or for the sale of property at competitive bidding, if premature disclosure of information would give an unfair competitive or bargaining advantage to a person whose personal, private interest is adverse to the general public interest. No member of a public body shall use this paragraph as a subterfuge for providing covert information to prospective buyers or sellers. A purchase or sale of public property is void if the seller or buyer of the public property has received covert information from a member of a public body that has not been disclosed to the general public in sufficient time for other prospective buyers and sellers to prepare and submit offers.
If the minutes of the public body show that all meetings and deliberations of the public body have been conducted in compliance with this paragraph, any instrument executed by the public body purporting to convey, lease or otherwise dispose of any right, title or interest in any public property shall be conclusively presumed to have been executed in compliance with this paragraph insofar as title or other interest of any bona fide purchasers, lessees or transferees of the property is concerned.
(3) Conferences with an attorney for the public body concerning disputes involving the public body that are the subject of pending or imminent court action;
(4) Preparing for, conducting or reviewing negotiations or bargaining sessions with public employees concerning their compensation or other terms and conditions of their employment;
(5) Matters required to be kept confidential by Federal law or regulations or State statutes;
(6) Specialized details of security arrangements if disclosure of the matters discussed might reveal information that could be used for the purpose of committing, or avoiding prosecution for, a violation of the law.
(b) If a public body holds an executive session to consider any of the matters listed in paragraphs (a)(2) to (6) hereof, the motion and vote to hold that executive session shall state which one or more of the approved matters listed in paragraphs (a)(2) to (6) hereof, are to be considered at the executive session.
(c) A public body specified in Section 206.02(b)(3) shall not hold an executive session when meeting for the purposes specified in such section.