A. The city shall have the authority to sell, lease, convey and dispose of real and personal property for the benefit of the city as provided by Utah Code Annotated section 10-8-2, as amended.
B. Before the city may dispose of a significant parcel of real property, the city shall:
1. Provide reasonable notice of the proposed disposition at least fourteen (14) days before a scheduled meeting at which the city will hear public comment; and
2. Hold a meeting at which the city council accepts public comment on the proposed disposition.
C. All disposal, leases, or subleases of such property of the city other than a significant parcel of real property, shall be made, as nearly as possible, under the same conditions and limitations as required by city ordinances and state law for the purchase or sale of property.
D. The city council may also authorize at its discretion and under such terms and conditions as it may deem desirable, fair and appropriate, considering intended use, property tax value, and the interests of the city, the sale of any public property, through public auction or other method designed to best serve the interests of city residents and produce a fair return; the trade or exchange of any public property; and the lease or sublease of any public property. Methods for the sale of public property may include, but are not limited to, listing with a broker, auction, or private negotiations. (Ord. 07-05, 3-27-2007)