A. No real estate, may be sold, traded or purchased by City unless and until the proposed sale, trade or purchase is presented to the City Council for its approval.
B. The City shall not lease any real property for a term more than five (5) years unless the lease is presented to and approved by the City Council. The Mayor is authorized to enter into leases for five (5) years or less.
C. The City may not dispose of a significant parcel of real property as defined herein unless and until the proposed disposition is presented at a public hearing allowing for public comment.
D. "Significant Parcel of Real Property" is defined as any parcel, in whole or in part, owned by the City, regardless of size or value. (Ord. 2017-03, 7-19-2017)