The Town Manager is hereby authorized, pursuant to G.S. § 160A-266(c), to dispose of any surplus personal property owned by the town whenever he or she determines, in his or her discretion, that:
(A) The item or group of items has a fair market value of less than $500;
(B) The property is no longer necessary for the conducting of public business; and
(C) Sound property management principles and financial considerations indicate that the interests of the town would best be served by disposing of the property.
(2003 Code, § 2-301)