(A) The County Judge is authorized to exchange or transfer personal property with other Arkansas counties or municipalities if the value of each separate item of Sebastian County personal property does not exceed a value of $5,000, said value to be determined by the Sebastian County Assessor, and the personal property or cash received by Sebastian County is at least 75% of the value of the Sebastian County personal property. If personal property other than cash is tendered in exchange by the other county or municipality, then that other property must also be appraised by the Sebastian County Assessor in order to comply with the requirements of this division.
(B) The proposed exchange or transfer of any item of personal property valued greater than $5,000 and any exchange or transfer of real property regardless of appraised value with any Arkansas county, municipality, community college or institution of higher education must be approved by the Sebastian County Quorum Court in an appropriate ordinance therefore pursuant to the requirements of Act 98 of 2015.
(C) This section shall only apply to implement the provisions of Act 98 of 2015 and shall have no effect with respect to the authority of the County Judge under Amendment 55 of the Arkansas Constitution.
(D) The term “personal property” means every tangible thing being the subject of ownership, whether animate or inanimate, and not forming a part of any parcel of real property. For the purpose of this section only, the term “personal property” shall also mean money. “Money” means the medium of exchange authorized by the United States Government and includes cash or a check of another Arkansas county, municipality, community college or institution of higher education.
(E) The County Judge will notify the Quorum Court either in writing within ten days of any exchange or transfer of property, or in the report of the County Judge at the Quorum Court meeting that follows the exchange or transfer of property, whichever is earlier.
(Ord. 2020-12, passed 8-18-20)