§ 3.04.060. Negotiated disposals.

Latest version.

A.

The city may dispose of an interest in real property to any person or entity in furtherance of the development of new local trade or industry by negotiation and for less than its appraised value. Any disposal under this subsection shall be by ordinance.

B.

The city may settle disputed claims or litigation by disposal of an interest in real property. If the city council finds that it is in the best interest of the city to dispose of a certain parcel of real property or interest therein it shall adopt an ordinance authorizing the conveyance. The ordinance shall set out the council's finding of public interest and the basis therefor and shall include a summary of the terms of the disposal.

(Ord. 2008-09 § 1, 2008; prior code § 13.01.050)

                    
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