(A) The City Clerk shall maintain on file in his or her office an inventory of all real property owned by or leased to the city. This inventory shall be maintained in current status, and during January of each year shall be revised, as may be appropriate, to show changes in value due to depreciation or to repairs, renovations, and the like. For each building or lot such inventory shall also show a brief description, a reference to the deed, devise, lease, or other instrument whereby the city acquired title to or the use thereof, the department, office, or agency charged with custody, the purpose or use, the insurance of all types thereon, together with notes as to premiums payable and anniversary dates, and for property owned by the city and leased to other persons, copies of such leases, and appropriate notes as to the revenues derived therefrom.
(B) Each city officer having custody of items of nonexpendable personal property of value greater than $25, or other amount deemed appropriate by the Municipal Court, owned by or leased to the city shall, during January of each year, prepare in duplicate an itemized inventory of such property, showing for each item its value and a brief description, together with identification (by serial number, where applicable), a reference to the instrument, if any, whereby title or use was acquired, the department, office, or agency having custody, the purpose or use, and the insurance of all types, if any, together with notes as to premiums payable and anniversary dates. The original copy of each such inventory shall be filed in the office of the City Clerk before February 1 of each year, and the duplicate copy shall be retained on file in the office of the person who prepared it.
(Prior Code, § 2-39)