A. Upon the declaration of any City real property as surplus property, such surplus real property may be disposed of by the City Council subject to the provisions of this section.
B. Unless provided otherwise by this section, the disposition of City surplus real property may be by public sale, private sale, exchange, exchange and sale, option to purchase, lease, lease with an option to purchase, trade in, public auction, private auction, sale upon public advertisement by sealed bid, or by any other lawful and reasonable means.
C. No disposition of surplus property shall be made for less than a fair market value unless the City Council determines that it is in the best public interest that disposition of that surplus property he made for less than its fair market value. The disposition of City surplus property for less than fair market value must also be approved by the City Council. Consideration may be in forms other than cash payment and may include the exchange of property or services as may be reasonably determined by the City Council.
D. The City shall maintain records of the manner and date of the disposal of all City surplus real property as well as the amount and nature of consideration received for such real property.
E. City employees and City officers are not prohibited from purchasing surplus City real property; provided, that the provisions of this section are complied with and disclosure is made of the purchaser's status with the City.
F. If real property was acquired after May 11, 2009, by condemnation or by the threat of condemnation it must be disposed of in accordance with Utah Code Annotated § 78B-6-520.3. (Ord. 2017-03, 7-19-2017)