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7.13. - Page 5 Section 3 -1/2. ACQUISITION AND DISPOSAL OF PROPERTY: Attachment A Section 3 -1/2 provides in pertinent the conditions for acquiring property and for the sale and lease of property under the jurisdiction of the City Council and property under the jurisdiction of the Port Commissioners. Before purchasing property, the City must first publish a notice in the paper when the value of the property is $2,000 or more unless general law is to be used to condemn property or the property is needed in connection with a public improvement. Sale of city -owned real or personal property under the jurisdiction of the City Council is generally accomplished through advance public notice, an appraisal, and sale to the highest responsible bidder for no less than 90% of the assessed value at a public auction or sealed bids to the Council. This section also sets forth more specific conditions for sale of property depending on value: • City real property having an appraised value of two hundred and fifty dollars ($250) may be sold without public notice. • City personal property having a value of five thousand dollars ($5,000) may be sold without notice for any reasonable amount. • City real property having an appraised value of less than $75,000 may be authorized by 5 /7th vote of the City Council by resolution. • City real property having an appraised value in excess of $75,000 may be authorized only by ordinance adopted by 5 /7th vote of the City Council. • Any ordinance required by this section is subject to the referendum provisions of the Charter. The conditions for sale of City property under the jurisdiction of the Port are the same for the sale of City property under the jurisdiction of the City Council. Leases are handled differently. Lease of real property under the jurisdiction of the City Council for a term of more than one calendar month shall be authorized by the resolution of the City Council, and leases for a lesser period of time may be authorized by motion. Lease of real property under the jurisdiction of the Port is pursuant to Section 48a of the Charter. Sale of lease of harbor lands is addressed separately in Section 48 of the Charter. City property may be exchanged for other property when the value of the property to be received equals or exceeds the value of property to be disposed of by the city. If the proposed Charter amendment is adopted, it would read: Section 3 -1/2. ACQUISITION AND DISPOSAL OF PROPERTY BY PORT: Public notice shall be given by publication in the official newspaper once at least five (5) days prior to the acquisition of any real property by the Board of Port Commissioners C: \PROGRAM FILE&NEEVIA.COM \DOCUMENT CONVERTER \TEMP \8225.DOCX 061711 1