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82.083 Sale or other disposition of city property.

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Page 1 of 1 82.083 Sale or other disposition of city property. (1) A city may sell or otherwise dispose of any of its real or personal property. <br>(2) Before selling or otherwise disposing of any real or personal property, the city shall make a written determination setting forth and fully describing: <br>(a) The real or personal property; <br>(b) Its intended use at the time of acquisition; <br>(c) The reasons why it is in the public interest to dispose of it; and <br>(d) The method of disposition to be used. (3) Real or personal property may be: (a) Transferred, with or without compensation, to another governmental agency; <br>(b) Transferred, with or without compensation, for economic development purposes; (c) Sold at public auction following publication of the auction in accordance with KRS 424.130(1)(b); (d) Sold by electronic auction following publication of the auction, including the uniform resource link (URL) for the site of the electronic auction, in <br>accordance with KRS 424.130(1)(b); or (e) Sold by sealed bids in accordance with the procedure for sealed bids under KRS 45A.365(3) and (4). (4) If a city receives no bids for the real or personal property, either at public or electronic auction or by sealed bid, the property may be disposed of, consistent with <br>the public interest, in any manner deemed appropriate by the city. In those instances, <br>a written description of the property, the method of disposal, and the amount of <br>compensation, if any, shall be made. (5) Any compensation resulting from the disposal of this real or personal property shall be transferred to the general fund of the city. Effective: July 13, 2004 <br>History: Created 2004 Ky. Acts ch. 153, sec. 1, effective July 13, 2004.